New Clauses 31(ba) to (bd) inserted in Form 3CD

CA Shail Thakkar  on 26 April 2019


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:

  1. Name address and PAN of the payer;
  2. Nature of transaction;
  3. Amount of receipt;
  4. 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:

  1. Name address and PAN of the payer;
  2. 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:

  1. Name address and PAN of the payee;
  2. Nature of transaction;
  3. Amount of receipt;
  4. 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:

  1. Name address and PAN of the payee;
  2. 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;

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