Tax Audit Report 3CD Revised, know About Changes Made

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Tax Audit 3CD Revised for Assessment Year 2018-19: (6 Amendments + 9 Insertions)

Summary of Amendments:

4 – GSTIN to be mentioned.
19 – Allowance under Section 32AD is to be reported.
24 – Deemed gains under Section 32AD to be reported.
26 – Clause (g) of Section 43B (sum payable to Indian Railways for use of assets) has to be reported.
31 – Cash receipts more than INR 2,00,000 under Section 269ST is to be reported.
34 – Details with respect to transactions not disclosed in TDS Return/ TCS Return is to be reported.

Summary of Insertions:

29A – Advance received on capital asset forfeited to be reported here {Section 56(2)(ix)}.
29B – Income of gifts exceeding INR 50,000 to be reported here {Section 56(2)(x)}.

30A – Details about “Primary Adjustments” in transfer pricing to be reported here as per Section 92CE.
30B – Limitation of Interest deductions for borrowings from a AE upto 30% of EBITDA is to be furnished here.
30C – Details of Impermissible Avoidance Agreement to be furnished as referred to in Section 96.
36A – Dividend received under Section 2(22)(e) is required to be reported here.
42 – Details w.r.t. Form 61 (details of no PAN Form 60 received), Form 61A (SFT) and Form 61B (SRA) is to be provided here.
43 – Details w.r.t. CbC Reporting as referred to in Section 286 is required to be reported.
44 – BREAK UP of total expenditure in respect of GST Registered and Unregistered Entities is required to be given.


Credit: Copy from CA Raj Chawla Facebook wall.

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