LIVE GST Certification Course by CA Arun Chhajer begins 21st April. Register Now!!

3CD

Suresh Pai S (Tax Consultant) (1029 Points)

09 September 2017

What is the requirements of clause 36 of 3CD?

Reply
Follow
Share

4 Replies

Pranay Teja (49 Points)
Replied 09 September 2017

This clause discloses profits distributed excluding deemed dividend u/s 2(22)e. Profits distributed during the previous year, tax on that amount is required to be disclosed.

Tax auditor need not enquire as to how dividend is arrived at

Pranay Teja (49 Points)
Replied 09 September 2017

Suresh Pai S (Tax Consultant) (1029 Points)
Replied 09 September 2017

So if partnership firm has distributed profit, that needs to be shown there?

Pranay Teja (49 Points)
Replied 09 September 2017

Sir, the wordings of the clause starts with "In the case of domestic company, details of tax on distributed profits...."

Therefore this clause is applicable to only domestic companies and not to partnership firms