form 3cd

Form 3CA/3CB /3CD Upload Process A.Y. 21-22 on New Income Tax Portal

Income Tax - PREREQUISITES 1. TAX AUDIT REPORT READY WITH ALL ANNEXURES 2. SCANNED – SIGNED BS PL 3. CLIENT DSC ( check not expired)( In case of P.firm /LLP/ Company , You need Login ID Password of Authorized Signatory as well for register DSC of such Authorized Signatory) (One time exercise) 4. CA DSC (You need to […]...

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Return filing process for Tax Audits under New Income Tax Portal

Income Tax - Return filing process for Tax Audits under New Income Tax Portal-Form 3CB, 3CD and DSC registration for Tax professionals(CA) How to file 3CB & 3CD for Tax Audit Cases under New Income Tax Portal : Step 1 : First  login to  taxpayers account   –  https://eportal.incometax.gov.in/iec/foservices/#/login Step 2 : Navigate to ...

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Income Tax audit under section 44AB​: FAQs

Income Tax - ​Articles deals with Income Tax Audit Provisions in India. It explains What is tax audit, objective of tax audit, who is compulsorily required to get his accounts audited, What are Form Nos. 3CA/3CB and 3CD, Due Date for Tax Audit, penalty for not getting the accounts audited as required by section 44AB....

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Amendments in Tax Audit Report for AY 2021-22

Income Tax - Purpose of Rule 6G: This rule tells about the name of the forms applicable in the case of 44AB Audit and from 1st April 2021 sub-rule (3) is inserted. Rule 6G: (1) The report of audit of the accounts of a person required to be furnished under section 44AB shall,— (a) In the case of […]...

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CBDT defers reporting in Clause 30C & 44 of Tax Audit Report till 31.03.2022

Income Tax - Tax Audit Report (Form 3CD- Applicability of Clause 30C and Clause 44 by one more year i.e. will be applicable for the Financials year 2022-23 Now. Central Board of Direct Taxes (CBDT) has issued Circular No. 05/2021 dated March 25, 2021 by which the CBDT has deferred the applicability of certain Clause of Form 3CD […]...

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Submission of Form 3CA-3CD,3CB-3CD enabled

Income Tax - Submission of Form 3CA-3CD,3CB-3CD for AY 2021-22, AY 2020-21 is enabled on e-Filing portal www.incometax.gov.in. Download and use only the latest Offline Utility available in the “Download” section under “Income-tax Forms” page on the portal. This version of the offline utility can be used for Tax Audits in cases ...

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Revised Form 3CD Schema released after 21 days of Applicability

Income Tax - Form 3CD revised wef 01.10.2020 vide Notification No. 82/2020-Income Tax Dated: 1st October, 2020 but Schema for the same changed on 22.10.2020. Now the Question arises here is what is the status of Tax Audit Report Submitted on or after 01.10.2020 until the release of New Schema. Are they invalid Tax Audit Reports & Who […]...

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Guide to new Tax Audit Report Clauses WEF 20.08.2018

Income Tax -  Implementation Guide w.r.t. Notification No. 33/2018 dated 20.07.2018 effective from 20.08.2018 – (23-08-2018) The Central Board of Direct Taxes, vide Notification No. 33/2018/F No. 370142/9/2018-TPL dated 20th July 2018, notified amendments to Form No. 3CD enhancing substantially the reporting requirements and the role of tax aud...

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ICAI represents on Revised Form 3CD – Demands Deferment of Revised 3CD

Income Tax - ICAI vide its representation suggested CBDT to that changes made in Form No. 3CD be implemented from AY 2019-20 for smooth implementation and compliance. It is further suggested that the new clauses may be reconsidered and appropriately modified preferably after due consultation with the stakeholders....

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Tax Audit Date Extended?- Fake Order doing rounds

Income Tax - 10 Reasons, why you cannot rely on order dated 26.09.2015 which says that due date for Income Tax Return been extended to 15th October 2015.1. We confirmed with CBDT officials and they denied issue of any such Notifications. 2. We checked the official Websites of Income Tax, Government of India and Finance ministry and have not found any ...

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Penalty cannot be levied for mere filing of Form No. 3CB instead of Form 3CA

M/s. PMC Rubber Chemicals India Pvt. Ltd. Vs ACIT (ITAT Kolkata) - M/s. PMC Rubber Chemicals India Pvt. Ltd. Vs ACIT (ITAT Kolkata) We note that the assessee has filed form no. 3CD and 3CB and the same has not been disputed therefore the tax audit report was on record and hence the penalty should not be levied. However the Assessing Officer disputed that instead of...

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Loss from a Business Activity cannot be disallowed for mere non mention of that Activity in Form 3CD

ACIT Vs Sh. Amarjeet Singh Sethi (ITAT Delhi) - We have heard rival submission and perused the material on record. It is not disputed that the assessee had started the business of trading in shares from A.Y. 2007-08. For A.Y. 2007-08, assessee had earned profit of Rs.7,73,143/- which has been declared as “business income”...

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Download Gujarat HC Judgment on Extension of ITR Due Date

All Gujarat Federation of Tax Consultants Vs CBDT (Gujarat High Court) - CBDT is directed to modify the notification dated 20th August, 2014 issued in exercise of powers under section 119 of the Act by extending the due date for furnishing the return of income to 30th November, 2014....

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CBDT Defers GST & GAAR reporting till 31.03.2022

Circular No. 05/2021-Income Tax - (25/03/2021) - The Central Board of Direct Taxes (CBDT) deferred the Tax Audit Clause 30C and 44  till 31st Mar 2022 due to COVID-19. F.No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division New Delhi **** Circular No. 05/2021, Dated 25th Mar...

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CBDT amends Form 3CD, Form No 3CEB, ITR6, & Inserted New Forms & Rules

Notification No. 82/2020-Income Tax [G.S.R. 610(E)] - (01/10/2020) - Amendment of the Income-tax Rules, 1962 to prescribe manner relating to option under section 115BAC and 115BAD, and that of determination of depreciation under section 115BAA to 115BAD, of the Income-tax Act, 1961 CBDT vide Notification No. 82/2020-Income Tax notifies changes in Form 3CD, Form No 3C...

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CBDT defers furnishing of GST & GAAR details in Form 3D till 31.03.2020

Circular No. 09/2019-Income Tax - (14/05/2019) - Reporting requirements under clause 30C (pertaining to General Anti-Avoidance Rules (GAAR)) and clause 44 (pertaining to Goods and Services Tax (GST) compliance) of the Form No. 3CD is been kept in abeyance till 31st March, 2020. Circular No. 09/2019-Income Tax F. No. 370142/9/2018-TPL Government of...

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No need to report clause 30C (GAAR) & 44 (GST) of Revised 3CD Report till 31.03.2019

Circular No. 6/2018-Income Tax - (17/08/2018) - Representations have been received by the Board that the implementation of reporting requirements under the proposed clause 30C (pertaining to General Anti-Avoidance Rules (GAAR)) and proposed clause 44 (pertaining to Goods and Services Tax (GST) compliance) of the Form No. 3CD may be deferred....

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CBDT Amends Format of Form No. 3CD wef 20th August, 2018

Notification No. 33/2018-Income Tax [G.S.R. 666(E)] - (20/07/2018) - CBDT has vide Notification No. 33/2018, Dated: July 20, 2018 Amended Income Tax Audit Form No. 3CD with effect from 20th August, 2018 to incorporate further reporting requirement related to Goods and Service Tax (GST) , Transfer pricing, Statement of Financial Transactions, Section 32AD, Income from...

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Recent Posts in "form 3cd"

Form 3CA/3CB /3CD Upload Process A.Y. 21-22 on New Income Tax Portal

PREREQUISITES 1. TAX AUDIT REPORT READY WITH ALL ANNEXURES 2. SCANNED – SIGNED BS PL 3. CLIENT DSC ( check not expired)( In case of P.firm /LLP/ Company , You need Login ID Password of Authorized Signatory as well for register DSC of such Authorized Signatory) (One time exercise) 4. CA DSC (You need to […]...

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Posted Under: Income Tax |

Return filing process for Tax Audits under New Income Tax Portal

Return filing process for Tax Audits under New Income Tax Portal-Form 3CB, 3CD and DSC registration for Tax professionals(CA) How to file 3CB & 3CD for Tax Audit Cases under New Income Tax Portal : Step 1 : First  login to  taxpayers account   –  https://eportal.incometax.gov.in/iec/foservices/#/login Step 2 : Navigate to ...

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Posted Under: Income Tax |

Submission of Form 3CA-3CD,3CB-3CD enabled

Submission of Form 3CA-3CD,3CB-3CD for AY 2021-22, AY 2020-21 is enabled on e-Filing portal www.incometax.gov.in. Download and use only the latest Offline Utility available in the “Download” section under “Income-tax Forms” page on the portal. This version of the offline utility can be used for Tax Audits in cases ...

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Posted Under: Income Tax |

Income Tax audit under section 44AB​: FAQs

​Articles deals with Income Tax Audit Provisions in India. It explains What is tax audit, objective of tax audit, who is compulsorily required to get his accounts audited, What are Form Nos. 3CA/3CB and 3CD, Due Date for Tax Audit, penalty for not getting the accounts audited as required by section 44AB....

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Amendments in Tax Audit Report for AY 2021-22

Purpose of Rule 6G: This rule tells about the name of the forms applicable in the case of 44AB Audit and from 1st April 2021 sub-rule (3) is inserted. Rule 6G: (1) The report of audit of the accounts of a person required to be furnished under section 44AB shall,— (a) In the case of […]...

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Posted Under: Income Tax |

CBDT defers reporting in Clause 30C & 44 of Tax Audit Report till 31.03.2022

05/2021 25/03/2021

Tax Audit Report (Form 3CD- Applicability of Clause 30C and Clause 44 by one more year i.e. will be applicable for the Financials year 2022-23 Now. Central Board of Direct Taxes (CBDT) has issued Circular No. 05/2021 dated March 25, 2021 by which the CBDT has deferred the applicability of certain Clause of Form 3CD […]...

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Posted Under: Income Tax |

CBDT Defers GST & GAAR reporting till 31.03.2022

Circular No. 05/2021-Income Tax 25/03/2021

The Central Board of Direct Taxes (CBDT) deferred the Tax Audit Clause 30C and 44  till 31st Mar 2022 due to COVID-19. F.No. 370142/9/2018-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division New Delhi **** Circular No. 05/2021, Dated 25th March, 2021 Order under section 119 of [&he...

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7 Clauses in Tax Audit Report causing Dilemma & Hardships

Seven Reporting Clauses in Tax Audit Report (Form 3CA/CB read with 3CD) causing Dilemma & Hardships for Tax Auditor & Auditee, if Tax Audit Due Date for AY 2020-21 remains 31.12.2020 All of us know that presently the Tax Audit due date for AY 2020-21 is 31.12.2020 and the due date for filing of Returns […]...

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Posted Under: Income Tax |

Analysis of Form 3CA, Form 3CB and Form 3CD – Part 1

Article is first part of series of articles in which Author will Analyse Form 3CA, Form 3CB and Form 3CD related to Tax Audit under Income Tax Act, 1961- 1. Form  3CA – Audit Report under Section 44AB in a case where the accounts of the business or profession of a person have been audited […]...

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Posted Under: Income Tax |

Contradiction between Dates in Form 3CD & dates for submission of Audit Reports

Clauses of Form 3CD which can’t be answered while submitting it by 30th November 2020 The Income Tax Act has been amended by the Finance Act 2020 and further amended by The Taxation And Other Laws (Relaxation And Amendment Of Certain Provisions) Act, 2020 to provide certain restrictions and/or relaxations in the existing provisions and ...

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