Form 3CD Revised – Tax Audit Report- Summary of Amendments

Summary of Amendments:

1. 4 – GSTIN to be mentioned.

2. 19 – Allowance under Section 32AD is to be reported.

3. 24 – Deemed gains under Section 32AD to be reported.

4. 26 – Clause (g) of Section 43B (sum payable to Indian Railways for use of assets) has to be reported.

5. 31 – Cash receipts more than INR 2,00,000 under Section 269ST is to be reported.

6. 34 – Details with respect to transactions not disclosed in TDS Return/ TCS Return is to be reported.

Summary of Insertions:

1. 29A – Advance received on capital asset forfeited to be reported here {Section 56(2)(ix)}.

2. 29B – Income of gifts exceeding INR 50,000 to be reported here {Section 56(2)(x)}.

3. 30A – Details about “Primary Adjustments” in transfer pricing to be reported here as per Section 92CE.

4. 30B – Limitation of Interest deductions for borrowings from a AE upto 30% of EBITDA is to be furnished here.

5. 30C – Details of Impermissible Avoidance Agreement to be furnished as referred to in Section 96.

6. 36A – Dividend received under Section 2(22)(e) is required to be reported here.

7. 42 – Details w.r.t. Form 61 (details of no PAN Form 60 received), Form No. 61A (SFT) and Form No. 61B (SRA) is to be provided here.

8. 43 – Details w.r.t. CbC Reporting as referred to in Section 286 is required to be reported.

9. 44 – BREAK UP of total expenditure in respect of GST Registered and Unregistered Entities is required to be given.