CBDT has revised Tax Audit Form 3CD Revised vide Notification 33/2018 dated 20.07.2018 (effective from 20.08.2018) by which it has made  6 Amendments and  9 Insertions  in Tax Audit Report Form 3CD.

Read here at a glance…!!

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. 

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4 Comments

  1. k v koteswara says:

    sir
    as per revised 3CB- 3CB clause no 27(a) its asking cenvat credit/ ITC utilised during the year whether it is essentail to show Gst input tax credit in that.

  2. cayogesh21191 says:

    Yes..Notification 33/2018 dated 20.07.2018 amending Form 3CD is effective from 20.08.2018.

    So, tax audit reports filed after the said date (20.08.2018) will fall under amendments.

    Department has given the content one month prior to make us friendly about the new requirements and meantime to update its utilities.

  3. VINOD KUMAR GUPTA says:

    New form no. 3CD after incorporating said amendment has been notified or not. As far as my knowledge is concern these amendment would be applicable from 20th AUG 2018. it means the audit report which has been loaded on income tax site before 20th Aug would not in old format. Thereafter in new format.Please clarify.

    1. Yogesh Raheja says:

      Yes…!! Notification 33/2018 as summarized above is applicable from 20.08.2018 and filing of tax audit reports thereafter only will come under the new format.

      In my opinion, Department will be updating its utility as per amendments in the meantime. Thats why notification has been issued one month prior.

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