Details regarding newly inserted Clauses 31 (ba) to (bd) in Form 3CD by IT (Eighth Amdt.) Rules, 2018.
Reporting to be done is as follows:
31 (ba) Particulars of each receipt of Two lakh or more, in aggregate from
- A person in a day or
- In respect of single transaction or
- In respect of transactions relating to one event or occasion from a person,
During the previous year, where such receipt is otherwise than by
- Cheque or
- Bank draft or
- Use of electronic clearing system through a bank account.
Details to be reported are as given follows:
- Name address and PAN of the payer;
- Nature of transaction;
- Amount of receipt;
- Date of receipt;
31 (bb) Particulars of each receipt of Two lakh or more, in aggregate from
- A person in a day or
- In respect of single transaction or
- In respect of transactions relating to one event or occasion from a person
Received by a cheque or bank draft not being
- An account payee cheque or
- An account payee bank draft.
During the previous year
Details to be reported are as given follows:
- Name address and PAN of the payer;
- Amount of receipt;
31 (bc) Particulars of each payment MADE of Two lakh or more, in aggregate TO
- A person in a day or
- In respect of single transaction or
- In respect of transactions relating to one event or occasion to a person
Otherwise than by a
- Cheque or
- Bank draft or
- Use of electronic clearing system through a bank account,
During the previous year
Details to be reported are as given follows:
- Name address and PAN of the payee;
- Nature of transaction;
- Amount of receipt;
- Date of receipt;
31 (bd) Particulars of each payment MADE of Two lakh or more, in aggregate TO
- A person in a day or
- In respect of single transaction or
- In respect of transactions relating to one event or occasion to a person
MADE by a cheque or bank draft not being
- An account payee cheque or
- An account payee bank draft or
During the previous year
Details to be reported are as given follows:
- Name address and PAN of the payee;
- Amount of receipt;
IMPORTANT NOTE:- Particulars in (ba), (bb), (bc) and (bd) need not to given in case of receipt BY or PAYMENT to:
- A Government Company,
- A banking Company,
- A post office savings bank,
- A cooperative bank
- In case of transaction referred in section 269SS i.e. transaction of loan or deposit.
- In case of persons referred in Notification No. S.O. 2065(E) dated 3rd July 2017;