Timely Payment Limited is engaged in manufacturing and distribution of clocks and watches. It has committed multiple offences over different…

Timely Payment Limited is engaged in manufacturing and distribution of clocks and watches. It has committed multiple offences over different financial years. The details of the application made for compounding of such offences and their status is given below: Application Date Status Details 10/01/2021 Compounded Offence u/s 276B for F.Y. 2015-16 15/12/2022 Compounded Offence u/s 276C(1) for F.Y. 2018-19 14/09/2023 Rejected Compounding application for offence u/s 276B for F.Y. 2016-17 – rejected due to non payment of tax 20/07/2024 Pending Application filed for offence u/s 276CC for F.Y. 2019-20 – not disposed of till 17.10.2024 15/11/2024 Consolidated application Fresh application filed covering:Offence u/s 276B for F.Y. 2016-17Offence u/s 276C(1) for F.Y. 2021-22Offence u/s 275A for F.Y. 2023-24 18/12/2024 New application Application for offence u/s 276B for F.Y. 2022-23. Prosecution initiated on 10/08/2023 Other Relevant Facts: All dues including tax, interest, penalty have been paid before filing the application.The applicant has filed necessary undertakings and agreed to withdraw related appeals.Compounding application fees of 50,000 and - 25,000 were paid for consolidated and single applications, respectively. The company has delayed in depositing the tax deducted at source for the first quarter of F.Y. 2024-25 of 1,25,00,000 for 135 days. However, no prosecution proceedings yet commenced for such offence. Company has paid all TDS, interest, penalty etc. Assume that the normal compounding charges in each of the above offence is 45,000.