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Amended Form 3CD for Assessment Year 2020-21

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Form No. 3D for Assessment Year 2020-21 i.e. Financial Year 2019-20 is amended by CBDT vide Notification No. 82/2020-Income Tax/G.S.R. 610(E) dated 01st October 2020. We have compiled the same based on changes made on 01.10.2020 and reproduced the same below-

”FORM NO. 3CD”
[See rule 6G(2)]
Statement of particulars required to be furnished under
Section 44AB of the Income-tax Act, 1961

PART – A

1. Name of the assessee  
2. Address
3. Permanent Account Number (PAN)
4. Whether the assessee is liable to pay indirect tax like excise duty, service tax, sales tax, The Goods & Services Tax(GST), customs duty, etc. if yes, please furnish the registration number or goods & service tax number or any other identification number allotted for the same.  
5. Status  
6. Previous year
7. Assessment year
8. Indicate the relevant clause of section 44AB under which the audit has been conducted  
8a. Whether the assessee has opted for taxation under section 115BA/115BAA/115BAB  

PART – B

9.
(a)
If firm or association of Persons, indicate names of partners/members and their profit sharing ratios.
(b)
If there is any change in the partners or members or in their profit sha-ring ratio since the last date of the preceding year, the particulars of such change.
10.
(a)
Nature of business or profession (if more than one business or profession is carried on during the previous year, nature of every business or profession).
(b)
If there is any change in the nature of business or profession, the particulars of such change.
11.
(a)
Whether books of account are prescribed under section 44AA, if yes, list of books so prescribed.
(b)
List of books of account maintained and the address at which the books of account are kept.
(In case books of account are maintained in a computer system, mention the books of account generated by such computer system. If the books of accounts are not kept at one location, please furnish the addresses of locations along with the details of books of accounts maintained at each location.)
(c)
List of books of account and nature of relevant documents examined.
12.
Whether the profit and loss account includes any profits and gains assessable on presumptive basis, if, yes, indicate the amount and the relevant section (44AD, 44AE, 44AF, 44B, 44BB, 44BBA, 44BBB, Chapter XII-G, First Schedule or any other relevant section.).
13.
(a)
Method of accounting employed in the previous year.
(b)
Whether there has been any change in the method of accounting employed vis-à-vis the method employed in the immediately preceding previous year.
(c)
If answer to (b) above is in the affirmative, give details of such change and the effect thereof on the profit or loss.
(d)
Whether any adjustment is required to be made to the Profits or Loss for complying with the provisions of income computation and disclosure standards notified under section 145(2)
(e)
If answer to (d) above is in the affirmative, give details of such adjustments.
(f)
Disclosure as per ICDS:
ICDS I – Accounting Policies
ICDS II – Valuation of inventories
ICDS III – Construction Contracts
ICDS IV – Revenue recognition
ICDS V – Tangible Fixed Assets
ICDS VII – Government Grants
ICDS IX – Borrowing cost
ICDS X – Provisions, Contingent Liabilities and Contingent Assets
14.
(a)
Method of valuation of closing stock employed in the previous year.
(b)
In case of deviation from the method of valuation prescribed under section 145A, and the effect thereof on the profit or loss.
15.
Give the following particulars of the capital asset converted into stock-in- trade:-
(a)
Description of capital asset ,
(b)
Date of acquisition;
(c)
Cost of acquisition;
(d)
Amount at which asset is converted into stock-in-trade.
16.
Amounts not credited to the profit and loss account, being:-
(a)
the items falling within the scope of section 28;
(b)
the proforma credits, drawbacks, refund of duty of customs or excise, or service tax, or refund of sales tax or value added tax, where such credits, drawbacks or refunds are admitted as due by the authorities concerned;
(c)
escalation claims accepted during the previous year;
(d)
Any other item of income;
(e)
capital receipt, if any.
17.
Where any land or building or both is transferred during the previous year for a consideration less than value adopted or assessed or assessable by any auth-ority of a State Government referred to in section 43CA or 50C.
18.
Particulars of depreciation allowable as per the Income-tax Act, 1961 in respect of each asset or block of assets, as the case may be, in the following form:-
(a)
Description of asset/block of assets
(b)
Rate of depreciation
(c)
Actual cost or written down value, as the case may be.
 
(ca)
Adjustment made to the written down value under section 115BAA (for assessment year 2020-21 only)
 
(cb)
Adjusted written down value
(d)
Additions/deductions during the year with dates; in the case of any addition of an asset, date put to use; including adjustments on account of :
(i)
Central Value Added Tax credit claime-d and allowed under the Central Excise rules, 1944, in respect of assets acquired on or after 1stMarch, 1994,
(ii)
change in rate of exchange of currency, and
(iii)
Subsidy or grant or reimbursement by whatever name called.
(e)
Depreciation allowable
(f)
Written down value at the end of the year.
19
Amounts admissible under sections:
Section
Am-ount debited to profit and loss acc-ount
Amounts adm-issible as per the provi-sions of the Income Tax Act, 1961 and also fulfils the con-ditions, if any specified under the relevant prov-isions of Income Tax Act, 1961 or Income Tax Rules, 1962 or any other guid-elines, circular, etc., issued in this behalf.
32AC
Nil
32AD
Nil
33AB
Nil
33ABA
Nil
35(1)(i)
Nil
35(1)(ii)
Nil
35(1)(iia)
Nil
35(1)(iii)
Nil
35(1)(iv)
Nil
35(2AA)
Nil
35(2AB)
Nil
35ABB
Nil
35AC
Nil
35AD
Nil
35CCA
Nil
35CCB
Nil
35CCC
Nil
35CCD
Nil
35D
Nil
35DD
Nil
35DDA
Nil
35E
Nil
20.
(a)
Any sum paid to an employee as bonus or commission for services rendered, where such sum was otherwise payable to him as profits or dividend. [Section 36(1) (ii)].
(b)
Details of contributions received from employees for various funds as referred to in section 36(1) (va).
21.
(a)
Please furnish the details of amounts debited to the profit and loss account, being in the nature of capital, personal, advertisement expenditure etc.
(i)
expenditure of capital nature
(ii)
expenditure of personal nature
(iii)
Expenditure on advertisement in any souvenir, brochure, tract, pam-phlet, or the like, published by a political party.
(iv)
expenditure incurred at clubs being entrance fees and subscriptions
(v)
expenditure incurred at clubs being cost for club services and facilities used
(vi)
expenditure by way of penalty or fine for violation of any law for the time being in force;
(vii)
expenditure by way of any other penalty or fine not covered above
(viii)
expenditure incurred for any purpose which is an offence or which is prohibited by law;
(b)
Amounts inadmissible under section 40(a):
(i)
as payment to non-resident referred to in sub-clause (i)
(A) Details of payment on which tax is not deducted:
(I) date of payment
(II) amount of payment
(III) nature of payment
(IV) name and address of the payee
(B) Details of payment on which tax has been deducted but has not been paid during the previous year or in the subsequent year before the expiry of time prescribed under section 200(1)
(I) date of payment
(II) amount of payment
(III) nature of payment
(IV) name and address of the payee
(V) amount of tax deducted
(ii)
as payment referred to in sub-clause (ia)
(A) Details of payment on which tax is not deducted:
(I) date of payment
(II) amount of payment
(III) nature of payment
(IV) name and address of the payee
(B) Details of payment on which tax has been deducted but has not been paid on or before due date specified insub-section (1) of section 139.
(I) date of payment
(II) amount of payment
(III) nature of payment
(IV) name and address of the payee
(V) amount of tax deducted
(VI) amount out of (V) deposited, if any
(iii)
under sub-clause (ic) [Wherever applicable]
(iv)
under sub-clause (iia)
(v)
under sub-clause (iib)
(vi)
under sub-clause (iii)
(A) date of payment
(B) amount of payment
(C) name and address of the payee
(vii)
under sub-clause (iv)
(viii)
under sub-clause (v)
(c)
Amounts debited to profit and loss account being, interest, salary, bonus, commission or remuneration inadmissible under section 40(b)/40(ba) and computation thereof;
(d)
Disallowance/deemed income under section 40A(3):
(A)
On the basis of the examination of books of account and other relevant documents/evidence, whether the expenditure covered under section 40A(3) read with rule 6DD were made by account payee cheque drawn on a bank or account payee bank draft. If not, please furnish the details:-
(B)
On the basis of the examination of books of account and other relevant documents/evidence, whether the payment referred to in section 40A(3A) read with rule 6DD were made by account payee cheque drawn on a bank account payee bank draft If not, please furnish the details of amount deemed to be the profits and gains of business or profession under section 40A(3A);
(e)
Provision for payment of gratuity not allowable under section 40A(7);
(f)
Any sum paid by the assessee as an employer not allowable under section 40A(9);
(g)
Particulars of any liability of a contingent nature
(h)
Amount of deduction inadmissible in terms of section 14A in respect of the expenditure incurred in relation to income which does not form part of total income.
(i)
Amount inadmissible under the proviso to section 36(1)(iii)
22.
Amount of interest inadmissible under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006. (MSMED)
23.
Particulars of any payments made to persons specified under section 40A (2) (b).
24.
Amounts deemed to be profits and gains under section 32AC or 32AD or 33AB or 33ABA or 33AC.
25.
Any amount of profit chargeable to tax under section 41 and computation thereof.
26.
(i)
In respect of any sum referred to in clause (a); (b), (c), (d), (e), (f) or (g) of section 43B, the liability for which:-
(A)
Pre-existed on the first day of the previous year but was not allowed in the asse-ssment of any preceding previous year and was:
(a)
paid during the previous year;
(b)
not paid during the previous year
(B)
was incurred in the previous year and was:
(a)
paid on or before the due date for furnishing the return of income of the previous year under sect-ion 139(1);
(b)
not paid on or before the aforesaid date.
*State whether sales tax, customs duty, excise duty or any other indirect tax, levy, cess, impost etc. is passed through the profit and loss account.
27.
(a)
Amount of Central Value Added Tax credits availed of or utilised during the previous year and its treatment in the profit and loss account and treatment of outstanding Central Value Added Tax credits in the acco-unts.
(b)
Particulars of income or expenditure of prior period credited or debited to the profit and loss account.
28.
Whether during the previous year the assessee has received any property, being share of a company not being a company in which the public are substantially interested, without consideration or for inadequate consideration as referred to in section 56(2)(viia), If yes, please furnish the details of the same.
29.
Whether during the previous year the assessee received any consideration for issue of shares which exceeds the fair market value of the shares as referred to in section 56(2)(viib), If yes, please furnish the details of the same.
29A(a)
(b)
Whether any amount is to be included as income chargeable under the head ‘Income from Other Sources’ as referred to in clause (ix) of sub section 2 of section 56?
If yes, please furnish the following details:
(i) Nature of Income
(ii) Amount of Income
29B(a)
(b)
Whether any amount is to be included as income chargeable under the head ‘Income from Other Sources’ as referred to in clause (x) of sub section 2 of section 56?
If yes, please furnish the following details:
(i) Nature of Income
(ii) Amount of Income
30.
Details of any amount borrowed on hundi or any amount due thereon (including interest on the amount borrowed) repaid, otherwise than through an account payee cheque. [Section 69D].
30A(a)
(b)
Whether primary adjustment to transfer price, as referred to in sub section 1 of section 92CE, has been made during the previous year.
If yes, please furnish the following details:
(i) Under which clause of sub section 1 of section 92CE primary adjustment is made.
(ii) Amount of primary adjustment
(iii) Whether the excess money available with associated enterprises is required to be repatriated India as per the provisions of sub section (2) of section 92CE.
30B(a)
Whether the assessee has incurred expenditure during the previous year by way of interest or of similar nature exceeding Rs one crore as referred to in sub secion 1 of section 94B.
31.
(a)
Particulars of each loan or deposit in an amount exceeding the limit specified in section 269SS taken or accepted during the previous year :-
(i)
name, address and permanent account number (if available with the assessee) of the lender or depositor;
(ii)
amount of loan or deposit taken or accepted;
(iii)
whether the loan or deposit was squared up during the previous year;
(iv)
maximum amount outstanding in the account at any time during the previous year;
(v)
Whether the loan or deposit was taken or accepted by cheque or bank draft or use of electronic clearing system through a bank account.
(vi)
In case the loan or deposit was taken or accepted by cheque or bank draft, whether the same was taken or accepted by an account payee cheque or an account payee bank draft.
(b)
Particulars of each specified sum in an amount exceeding the limit specified in section 269SS taken or accepted during the previous year:
(i)
name, address and permanent account number (if available with the assessee) of the person from whom specified sum is received;
(ii)
amount of specified sum taken or accepted;
(iii)
whether the specified sum was taken or accepted by cheque or bank draft or use of electronic clearing system through a bank account;
(iv)
in case the specified sum was taken or accepted by cheque or bank draft, whether the same was taken or accepted by an account payee cheque or an account payee bank draft.
(Particulars at (a) and (b) need not be given in the case of a Government company, a banking company or a corporation established by the Central, State or Provincial Act.)
B(a)
Particulars of each receipt in an amount exceeding the limit specified in section 269ST, in aggregate from a person in a day or in respect of a single transaction or in respect of transaction relating to one event or occasion from a person, during the previous year, where such receipt is otherwise than by a cheque or bank draft or use of electronic clearing system through a b-ank account.
(i)
Name of payer
(ii)
Address of the payer
(iii)
PAN(if available with the assessee of the payer)
(iv)
Nature of transaction
(v)
Amount of receipt
(vi)
Date of receipt
B(b)
Particulars of each receipt in an amount exceeding the limit specified in section 269ST, in aggregate from a person in a day or in respect of a single transaction or in respect of transactions relating to one event or occasion from a person, received by a cheque or bank draft, not being an account payee cheque or an account payee bank draft, during the previous year.
(i)
Name of the payer
(ii)
Address of the payer
(iii)
PAN(if available with the assessee of the payer)
(iv)
Amount of receipt
B(C)
Particulars of each payment made in an amount exceeding the limit specified in section 269ST,in aggregate to a person in a day or in respect of a single transaction or in respect of transactions relating to one event or occasion to a person, otherwise than by a cheque or bank draft or use of electronic clearing system through a bank account during the previous year
(i)
Name of the payee
(ii)
Address of the payee
(iii)
Permanent Account Number (if available with the assessee) of the Payee
(iv)
Nature of transaction
(v)
Amount of Payment
(vi)
Date of Payment
B(d)
Particulars of each payment in an amount exceeding the limit specified in section 269ST,in aggregate to a person in a day or in respect of a single transaction or in respect of transactions relating to one event or occasion to a person, made by a cheque or bank draft not being an account payee cheque or an account payee bank draft, during the previous year
(i)
Name of the payee
(ii)
Address of the payee
(iii)
Permanent Account Number (if available with the assessee) of the Payee
(iv)
Amount of Payment
(c)
Particulars of each repayment of loan or deposit or any specified advance in an amount exceeding the limit specified in Section 269T made during the previous year:-
(i)
name, address and permanent account number (if available with the assessee) of the payee;
(ii)
amount of the repayment;
(iii)
maximum amount outstanding in the account at any time during the previous year;
(iv)
whether the repayment was made bycheque or bank draft or use of electronic clearing system through a bank account;
(v)
In case the repayment was made by cheque or bank draft, whether the same was taken or accepted by an account payee cheque or an account payee bank draft.
(d)
Particulars of repayment of loan or deposit or any specified advance in an amount exceeding the limit specified in Section 269T received otherwise than by a cheque or bank draft or use of electronic clearing system through a bank account during the previous year:-
(i)
name, address and Permanent Account Number (if available with the assessee) of the payer;
(ii)
Amount of loan or deposit or any specified advance received otherwise than by a cheque or bank draft or use of electronic clearing system through a bank account during the previous year.
(e)
Particulars of repayment of loan or deposit or any specified advance in an amount exceeding the limit specified in Section 269T received by a cheque or bank draft which is not an account payee cheque or account payee draft during the previous year:-
(i)
name, address and Permanent Account Number (if available with the assessee) of the payer;
(ii)
amount of loan or deposit or any specified advance received by a cheque or bank draft which is not an account payee cheque or account payee draft during the previous year.
(Particulars at (c), (d) and (e) need not be given in the case of a repayment of any loan or deposit or any specified advance taken or accepted from the Government, Government company, banking company or a corporation established by the Central, State or Provincial Act)
32.
(a)
Details of brought forward loss or depreciation allowance, in the following manner, to the extent available:
(1)
Serial number
(2)
Assessment year 
(3)
Nature of loss/ depreciation allowance (in Rupees) 
(4)
Amount as returned (if the assessed depreciation is less and no appeal pending then take assessed) 
(5)
All Losses/allowances not allowed under 115BAA
(6)
Amount as adjusted by withdrawal of additional depreciation on account of opting for taxation under section 115BAA (to be filled in for assessment year 2020-21 only)
(7)
Amount as assessed (give reference to relevant order)
(8)
Remarks
(b)
Whether a change in shareholding of the company has taken place in the previous year due to which the losses incurred prior to the previous year cannot be allowed to be carried forward in term of section 79.
(c)
Whether the assessee has incurred any speculation loss referred to in section 73 during the previous year, if yes, please furnish the details of the same.
(d)
Whether the assessee has incurred any loss referred to in section 73A in respect of any specified business during the previous year, if yes, please furnish details of the same.
(e)
In case of a company, please state that whether the company is deemed to be carrying on a speculation business as referred in explanation to section 73, if yes, please furnish details of speculation loss if any incurred during the previous year.
33.
Section- wise details of deductions, if any, admissible under Chapter VIA or Chapter III (Section 10A, Section 10AA).
34.
(a)
Whether the assessee is required to deduct or collect tax as per the provisions of Chapter XVII-B or Chapter XVII-BB.
Tax de-du-ction and coll-ection Acc-ount Nu-mber (TAN)
Secti-on
Na-ture of pay-ment
Total am-ount of pay-ment or receipt of the nature spe-cified in col-umn (3)
Total am-ount on which tax was req-uired to be de-du-cted or coll-ected out of (4)
Total amo-unt on which tax was ded-ucted or coll-ected at spec-ified rate out of (5)
Am-ount of tax ded-ucted or col-lected out of (6)
Total am-ount on which tax was de-ducted or coll-ected at less than spe-cified rate- out of (7)
Amount of tax ded-ucted or coll-ected on (8)
Amo-unt of tax ded-ucted or colle-cted not depo-sited to the credit of the Ce-ntral Gove-rnment out of (6) and (8)
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(b)
Whether the assessee is required to furnish the statement of tax deducted or tax collected. If yes, please furnish the following details.
Tax ded-uction and collec-tion Acc-ount Nu-mber (TA-N)
Type of Fo-rm
Due date for furn-ish-ing
Date of furn-ishing, if furn-ished
Whether the state-ment of tax dedu-cted or collected contains infor-mation about all tran-sactions which are req-uired to be rep-orted
If not,please furnish list of details/tran-sactions which are not reported.
(c)
Whether the assessee is liable to pay interest under section 201(1A) or section 206C(7). If yes, please furnish the details:
Tax ded-uction and colle-ction Account Number (TAN)
Amount of interest under Section 201(1A)/206C(7) is payable
Am-ount paid out of col-umn (2) along with date of paym-ent.
35.
(a)
In the case of a trading concern, give quantitative details of principal items of goods traded:
(i)
opening stock;
(ii)
Purchases during the previous year;
(iii)
sales during the previous year;
(iv)
closing stock;
(v)
Shortage /excess, if any.
(b)
In the case of a manufacturing concern, give quantitative details of the principal items of raw materials, finished products and by products :
A. Raw materials :
(i)
opening stock;
(ii)
purchases during the previous year;
(iii)
consumption during the previous year;
(iv)
sales during the previous year
(v)
closing stock;
(vi)
yield of finished products:
(vii)
percentage of yield:
(viii)
Shortage/excess, if any.
B. Finished products/By products
(i)
Opening stock;
(ii)
Purchases during the previous year
(iii)
quantity manufactured during the previous year;
(iv)
sales during the previous year;
(v)
closing stock;
(vi)
Shortage /excess, if any.
36.
In the case of a domestic company, details of tax on distributed profits under section 115-O in the following form:-
(a)
total amount of distributed profits
(b)
amount of reduction as referred to in section 115-O(1A)(i);
(c)
amount of reduction as referred to in section 115-O(1A)(ii);
(d)
total tax paid thereon;
(e)
dates of payment with amounts.
36A
(a)
Whether the assessee has received any amount in the nature of dividend as referred to in sub-clause (e) of clause (22) of section 2
37.
Whether any cost audit was carried out, if yes, give the details, if any, of disqualification or disagreement on any matter/ item /value/ quantity as may be reported/identified by the cost auditor.
38.
Whether any audit was conducted under the Central Excise Act, 1944, if yes, give the details, if any, of disqualification or disagreement on any matter/ item/ value/ quantity as may be reported / identified by the auditor.
39.
Whether any audit was conducted under Section 72A of the Finance Act, 1994 in relation to valuation of taxable services, if yes, give the details, if any, of disqualification or disagreement on any matter/item/value/quantity as may be reported/ identified by the auditor.
40.
Details regarding turnover, gross profit, etc., for the previous year and preceding previous year:
1.
Total turnover of the assessee
2.
Gross profit/Turnover;
3.
Net profit/Turnover;
4.
Stock-in-trade/Turnover;
5.
Material consumed/finished goods produced.
41.
Please furnish the details of demand raised or refund issued during the prev-ious year under any tax laws other than Income tax Act, 1961 and Wealth tax Act, 1957 along with details of relevant proceedings.
42.
Whether the assessee is required to furnish statement in Form No. 61 or Form No. 61A or Form No. 61B.
If yes please furnish the following details
Inc-ome-tax Depar-tment Rep-orting Entity Iden-tific-ation Nu-mber
Type of Fo-rm
Due Date for furn-ishing
Date of furn-ishing, if furn-ished
Whether the form contains information about all details/furni-shed trans-actions which are required to be reported.
If not, please furnish list of the details/trans-act-ions which are not reported.
43.
(a) Whether the assessee or its parent entity or alternate reporting entity is liable to furnish the report as referred to in sub-section (2) of Section 286
(b) If yes, please furnish the following details
Whether report has been furnished by the assessee or its parent entity or an alt-ernate repo-rting entity
Name of parent entity
Name of alt-ernate reporting entity (if applicable)
Date of furn-ishing of report
(‘c) If not due, Please enter expected date of furnishing the report

The above particulars have been furnished based on the books of account, records, documents and information made available to the Auditors’.

*****

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Author Bio

Name: CA Shankar Kumar Jha
Qualification: CA in Practice
Company: Thakur, Vaidyanath Aiyar & Co. Chartered Accounts New Delhi India
Location: New Delhi, New Delhi, IN
Member Since: 05 Oct 2020 | Total Posts: 1
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