CBDT has notified revised Tax Audit Report Forms (3CA, 3CB, 3CD) from time to time. On 20/07/2018, Form 3CD has been further revised (applicable w.e.f. 20/08/2018) expanding scope of reporting relating to GST, GAAR, SFT, Cash Transactions, Transfer Pricing, etc., for FY 2017-18/ AY 2018-19 onwards. However, subsequently CBDT has deferred implementation of Clauses 30C (GAAR) and 44 (GST) of revised Form 3CD, upto 31/03/2022.
Revised Tax Audit Report Forms (3CA, 3CB, 3CD) Applicable w.e.f. 20/08/2018 (later deferred to 01/04/2022)
* Form 3CD revised on 20/07/2018 applicable w.e.f. 20/08/2018. However, later CBDT has deferred implementation of newly inserted Clause 30C (GAAR) and 44 (GST) upto 31/03/2022, as under:
Clauses 30C (GAAR)/ 44 (GST) of Revised 3CD further extended upto 31/03/2022: CBDT Order 5/2021
CBDT Notifies Amendments in Form 3CD (Tax Audit Report), applicable from 20/08/2018
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, GAAR, etc. have been prescribed, applicable w.e.f. 20/08/2018.
Summarised details of amendments made in Form 3CD, notified on 20/07/2018:
| Sl. | 3CD Point No. | Remarks |
| 1 | 4 (amended) | GSTIN to be mentioned. |
| 2 | 19 (amended) | Allowances under Section 32AD to be reported (Addl Depreciation, Inv. Allowance, etc.) |
| 3 | 24 (amended) | Deemed gains u/s 32AD to be reported. |
| 4 | 26 (amended) | Reporting of any sum payable to Railways u/s 43B(g) which is not allowable as deduction for non-payment. |
| 5 | 29A (new) | Reporting of amount chargeable u/s 56(2)(ix) as ‘income from other sources’ |
| 6 | 29B (new) | Reporting of amount chargeable u/s 56(2)(x) as ‘income from other sources’ |
| 7 | 30A (new) | Reporting details of Primary Adjustments to Transfer Price u/s 92CE(1) |
| 8 | 30B (new) | Reporting details of interest expenditure incurred exceeding one crore rupees as referred u/s 94B(1) |
| 9 | 30C (new) | Reporting details of impermissible avoidance arrangements (GAAR), as referred to in section 96 |
| 10 | 31(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 |
| 11 | 31(c), 31(d), 31(e) (amended) | Clauses amended. |
| 12 | 34(b) (amended) | Reporting details of transactions not disclosed in TDS/ TCS Returns |
| 13 | 36A (new) | Reporting details of any dividend receipts u/s 2(22)(e) |
| 14 | 42 (new) | Reporting details of transactions not disclosed/ specified in Form No. 61/ 61A/ 61B |
| 15 | 43 (new) | Reporting whether assessee or its parent entity or alternate reporting entity is liable to furnish the report (CbCR) u/s 286(2) |
| 16 | 44 (new) | Reporting Break-up of total expenditure into expenditure with registered or not registered entities under the GST |
CBDT Notification 33/2018 dt. 20/07/2018: Income Tax (8th Amendment) Rules, 2018 (Reporting Changes in Form 3CD) applicable w.e.f. 20/08/2018
Related Posts:
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 (2022 Edition) Applicable for AY 2022-23