Revised Form 3CD, 3CA & 3CB

Revised Form 3CD, Form No. 3CA and Form No. 3CB has been notified.

Refer Notification 33/2014

Download Form 3CA, 3CB & 3CD

The Extract of Major changes in revised Form 3CD is highlighted here :-

  1. Information about applicability of Indirect taxes with respect to excise duty, service tax, sales tax, customs duty, etc. is required and if applicable registration number for same is required to be reported in form 3CD.
  1. Specific Clause of section 44AB under which tax audit is applicable, is require to be mention in form 3CD.
  2. Previous year from………………………. is to be mentioned.
  3. Address where books of accounts are kept has to be stated. If books of accounts are kept at more than one location, all such addresses have to be mentioned along with details of books of accounts maintained at each such location.
  4. Nature of the documents examined by auditor apart from books of accounts during audit has to be stated.
  5. Particulars about sale/transfer of Land and Building , consideration received and the stamp duty value thereof has to be furnished.
  6. Details of speculation loss, deemed speculation loss have to be given in assertive manner.
  7. Name & PAN of payee is also required to be reported for disallowance/deemed income u/s 40A(3) and 40A(3A).
  1. If any assessee received shares of closely held company for without/inadequate consideration, the same has to be reported with details.
  2. If any company received consideration for issuance of shares, which exceeds the FMV of shares then same has to be reported with details.
  3. Now government takes one more step ahead to stringent the compliance of TDS/TCS by increasing more reporting in form 3CD. The following new details are required :-
    • Nature of payment on which TDS/TCS is applicable to the respective assessee.
    • Gross total payment/receipt w.r.t above mentioned “nature of payment” (Whether TDS/TCS deducted/collected or not)
    • Total payment/receipt w.r.t above on which tax is required to be deducted/collected.
    • Total payment/receipt w.r.t above on which actually tax is deducted/collected.
    • Amount of TDS/TCS deducted/collected
    • TAN, type of form, date of filling TDS Return and whether TDS return contains all transactions or not.
    • Amount of interest payable and actually paid u/s 201(1A) or 206C(7)
  4. Detailed information regarding Dividend Distribution tax has to be given.
  5. Information about adverse comment/qualification in Cost audit report, Central excise audit report, service tax audit report,etc. has to be given.
  6. Auditor observations and qualifications, subject to which this report is given are to be mentioned in details in the report.
  7. Details of demand raised or refund issued during the previous year under any tax laws other than Income-tax Act, 1961 and Wealth tax Act, 1957 has require to be reported along with details of relevant proceedings.

 Refer Guidance Note on Revised Form 3CD – Edition 2014

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