Major Changes in revised form 3CD for FY 17-18 | AY 18-19

Studycafe | Jan 23, 2016 |

Major Changes in revised form 3CD for FY 17-18 | AY 18-19

Major Changes in revised form 3CD for FY 17-18 | AY 18-19 : Some of the major changes in revised form 3CD are given below for reference.

You May Also Like: Click here to view the complete notification revising form 3CD of Income Tax

Major Changes in revised form 3CD for FY 17-18 | AY 18-19

  1. Taxpayer to give GSTN number along with details of other indirect Tax registrations like Sales Tax, Service Tax etc.
  2. The New form 3CD seeks for information of Gifts that are chargeable to tax as per clause (x) of sub-section (2) of section 56 of Income Tax Act 1961.
  3. The revised form 3CD seeks for particulars of payment in amount exceeding limit specified in Section 269ST of Income Tax Act 1961.
  4. Assessee is required to provide details of expenditure in form 3CD whereby they need to provide Expenditure in respect of entities registered under GST  & entities not registered under GST.

5. The new form 3CD will incorporate further reporting requirement related to Transfer pricing as per Section 92 CE and 94 B of Income Tax Act inserted vide Finance Act 2017

6. Further the assessee is required to inform that whether he is required to furnish Statement of Financial Transactions i.e. Form No.61 or Form No. 61A or Form No. 61B as per Income Tax Act.

7. Also the assessee is now required to inform if he has received any deemed dividend as per sub-clause (e) of clause (22) of section 2 of Income Tax Act 1961

8. The form has further added a reporting requirement of Investment in new plant or machinery in notified backward areas in certain States as per Section 32AD of Income Tax Act 1961

DOWNLOAD REVISED FORM 3CA 3CB AND 3CD FOR FY 2017-18/ AY 2018-19 IN PDF/WORD

Form NameDescriptionDownload PDFDownload Word
Form No. : 3CAAudit report under section 44AB of the Income-tax Act, 1961 in a case where the accounts of the business or profession of a person have been audited under any other lawDownload Form 3CA in PDFDownload Form 3CA in WORD
Form No. : 3CBAudit report under section 44AB of the Income-tax Act, 1961, in the case of a person referred to in clause (b) of sub-rule (1) of rule 6GDownload Form 3CB in PDFDownload Form 3CB in WORD
Form No. : 3CDStatement of particulars required to be furnished under section 44AB of the Income tax Act, 1961Download Form 3CD in PDFDownload Form 3CD in WORD

DOWNLOAD REVISED FORM 3CA 3CB AND 3CD FOR FY 2017-18/ AY 2018-19 IN JAVA UTILITY

NameDescriptionUtility
Form 1 (Equalisation levy)Statement of Specified Services [Equalization levy Rules, 2016]Download
Form 3CA-3CDAudit report under section 44AB of the Income-tax Act,1961 in a case where the accounts of the business or profession of a person have been audited under any other lawDownload
Form 3CB-3CDAudit report under section 44AB of the Income-taxAct,1961, in the case of a person referred to in clause (b) of sub-rule (1) of rule 6GDownload
Form 3CEAAReport to be furnished under sub-section (4) of section 92D of the Income-tax Act, 1961Download
Form 3CEADReport by a parent entity or an alternate reporting entity or any other constituent entity, resident in India, for the purposes of sub-section (2) or sub-section (4) of section 286 of the Income-tax Act, 1961Download
Form 3CEBReport from an accountant to be furnished under section92E relating to international transaction(s)Download

Above Form 3CD has been revised recently on 21 July 2018, which is applicable w.e.f. 20 Aug. 2018

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