Please clarify that reply to question no. 22 in last line it has been clarified that “assessee covered under prosecution is not eligible to file unless prosecution is compounded before filing the declaration.” For compounding assessee has to pay Tax, Interest, penalty relating to offence, further undertakes to pay compounding charges, withdraw the appeals . Is it mean that the assessee had first to pay compounding fee equal to 125\/150 percent of tax sought to be evaded, compounding charges then only he can go for VSV. Then what benefit such assessee gets from this scheme.
\nFurther what will be the effect on right of compounding in future as compounding is one time feature.<\/p>\n","protected":false},"excerpt":{"rendered":"
Please clarify that reply to question no. 22 in last line it has been clarified that “assessee covered under prosecution is not eligible to file unless prosecution is compounded before filing the declaration.” For compounding assessee has to pay Tax, Interest, penalty relating to offence, further undertakes to pay compounding charges, withdraw the appeals . Is it mean that the assessee had first to pay compounding fee equal to 125\/150 percent of tax sought to be evaded, compounding charges then only he can go for VSV. Then what benefit such assessee gets from this scheme. Further what will be the effect on right of compounding in future as compounding is one time feature.<\/p>\n