Tax Audit Breaking: Common Offline Utility for Filing Forms 3CA-3CD & 3CB-3CD released

The Income Tax Department has released a common offline utility tool for filing audit reports and related statements under Section 44AB of the Income Tax Act, 1961. This utility helps taxpayers prepare 3CA-3CD and 3CB-3CD forms together.

Form 3CA-3CD:

This form includes the audit report and the statement of particulars required under Section 44AB of the Income Tax Act 1961. Basically, if your business accounts are audited due to some law apart from income tax, you use this form to submit your audit details to the Income Tax Department. The form provides the Income Tax Department with comprehensive information about the financial activities of taxpayers, ensuring compliance with tax laws.

Form 3CB-3CD:

This form is used by the taxpayers when the audit is done specifically under the Income Tax Act rules, particularly for certain persons mentioned in a particular clause of the law (clause (b) of sub-rule (1) of rule 6G). Like Form 3CA-3CD, this also contains the audit report and statement of particulars under Section 44AB of the Income Tax Act, 1961.

The common offline utility is a software tool that permits taxpayers or auditors to prepare these forms offline on their computers. This means they are not required to be connected to the internet at all times. After filling out the forms using this utility, the data can be saved in the required format and then uploaded to the official portal of the Income Tax Department.