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Tax Audit Amendments

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

Summary of Amendments in Tax Audit Report. :

Clause No Amendments/Insertion
4. (amended) GSTIN to be Mentioned
19. (amended) Allowances under Section 32AD to be reported
24. (amended) Deemed gains u/s 32AD to be reported
26. (amended) Reporting of any sum payable to Railways u/s 43B(g) which is not allowable as deduction for non-payment
29A. (new) Reporting of amount chargeable u/s 56(2)(ix) as ‘income from other sources
29B. (new) Reporting of amount chargeable u/s 56(2)(x) as ‘income from other sources
30A. (new) Reporting details of Primary Adjustments to Transfer Price u/s 92CE(1)
30B. (new) Reporting details of interest expenditure incurred exceeding one crore rupees as referred u/s 94B(1)
30C. (new) Reporting details of impermissible avoidance arrangements, as referred to in section 96
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
34b. (amended) Reporting details of transactions not disclosed in TDS/ TCS Returns
36A. (new) Reporting details of any dividend receipts u/s 2(22)(e)
42. (new) Reporting details of transactions not disclosed/ specified in Form No. 61/ 61A/ 61B
43. (new) Reporting whether assessee or its parent entity or alternate reporting entity is liable to furnish the report (CbCR) u/s 286(2)
44. (new) Reporting Break-up of total expenditure into expenditure with registered or not registered entities under the GST