The income tax department on Thursday issued revised guidelines for compounding offences under the I-T law by simplifying the process and lowering the charges. The revised guidelines will apply to pending as well as new applications for compounding of offences. It has done away with the categorisation of offences and removed the limit for filing applications, among others, the Central Board of Direct Taxes (CBDT) said in a statement. To facilitate the compounding of offences by companies and HUFs, the requirement of the main accused filing the application has been dispensed with. The offences of the main accused as well as any or all co-accused can be compounded on payment of relevant compounding charges by the main accused and/or any of the co-accused, under the revised guidelines. The compounding charges have also been rationalised by abolishing interest chargeable on delayed payment of compounding charges, reducing rates for various offences, such as for TDS defaults multiple ra