Revised Forms 3CA, 3CB, 3CD: Tax Audit Report FY 2017-18/ AY 2018-19

CBDT has notified revised Tax Audit Report Forms (3CA, 3CB, 3CD) from time to time. On 20 July 2018, Form 3CD has been further revised (applicable w.e.f. 20 Aug. 2018) expanding scope of reporting relating to GST, GAAR, SFT, Cash Transactions, Transfer Pricing, etc., for FY 2017-18/ AY 2018-19. However, subsequently CBDT has deferred implementation of Clauses 30C (GAAR) and 44 (GST) of revised Form 3CD, upto 31 March 2020.

Revised Tax Audit Report Forms (3CA, 3CB, 3CD) Applicable w.e.f. 20 Aug. 2018/ 1 April 2020

* Form 3CD revised on 20 July 2018 applicable w.e.f. 20 Aug. 2018. However, on 17 Aug. 2018/ 14 May 2019/ 24 April 2020, CBDT defers implementation of newly inserted Clause 30C (GAAR) and 44 (GST) upto 31 March 2019/ 31 March 2020/ 31 March 2021: Clauses 30C (GAAR)/ 44 (GST) of Revised 3CD further extended upto 31 March 2021

CBDT Notifies Amendments in Form 3CD (Tax Audit Report), applicable from 20 Aug. 2018: Income-tax (8th Amendment) Rules, 2018

The CBDT has notified the Income-tax (8th Amendment) Rules, 2018 making substantial changes in the Format of Tax Audit Report (Form 3CD), whereby new/ revised reporting requirements relating to GST, SFT, Cash Transactions, Transfer Pricing, etc. have been prescribed, applicable w.e.f. 20 Aug. 2018:

Summarised details of amendments made in Form 3CD, notified on 20 July 2018:

Sl.3CD Point No.Remarks
14 (amended)GSTIN to be mentioned.
219 (amended)Allowances under Section 32AD to be reported (Addl  Depreciation, Inv. Allowance, etc.)
324 (amended)Deemed gains u/s 32AD to be reported.
426 (amended)Reporting of any sum payable to Railways u/s 43B(g) which is not allowable as deduction for non-payment.
529A (new)Reporting of amount chargeable u/s 56(2)(ix) as ‘income from other sources’
629B (new)Reporting of amount chargeable u/s 56(2)(x) as ‘income from other sources’
730A (new)Reporting details of Primary Adjustments to Transfer Price u/s 92CE(1)
830B (new)Reporting details of interest expenditure incurred exceeding one crore rupees as referred u/s  94B(1)
930C (new)Reporting details of impermissible avoidance arrangements, as referred to in section 96
1031(ba), 31(bb), 31(bc), 31(bd) (new)Reporting details of each cash receipt or payment in excess of the limit specified u/s 269ST
1131(c), 31(d), 31(e) (amended)Clauses amended.
1234(b) (amended)Reporting details of transactions not disclosed in TDS/ TCS Returns
1336A (new)Reporting details of any dividend receipts u/s 2(22)(e)
1442 (new)Reporting details of transactions not disclosed/ specified in Form No. 61/ 61A/ 61B
1543 (new)Reporting whether assessee or its parent entity or alternate reporting entity is liable to furnish the report (CbCR) u/s 286(2)
1644 (new)Reporting Break-up of total expenditure into expenditure with registered or not registered entities under the GST

Income Tax (8th Amendment) Rules, 2018 (Changes in Form 3CD): CBDT Notification No. 33/2018 dt. 20 July 2018

Related Posts:

ITR/ TAR Due Date Extended upto 31 Oct. 2019 (AY 2019-20): CBDT

ICAI’s ‘Implementation Guide’ for ‘Revised Form 3CD’ Applicable from 20 Aug. 2018

CBDT’s Revised ICDS (applicable from AY 2017-18) along with Clarifications/ FAQs

Specified Number of Tax Audits (Ceiling Limit): Amendments/ Clarifications by ICAI

ICAI’s Revised Guidance Note on Tax Audit (2014 Edition) Applicable for AY 2018-19 also

Hi there,

We have recently started sharing updates using Telegram App. In case you are using the Telegram app, then please JOIN our Channel 'CA Club Updates', using the link below (from a device where you are already logged in to Telegram App):

https://t.me/caclubupdates

Leave a Reply