Reporting under clause 31(c) of Form 3CD

2098 views 2 replies

In case of reporting under clause 31(c) of Form 3CD "Particulars of each repayment of loan or deposit or any specified advance in an amount exceeding the limit specified in section 269T made during the previous year:"

---------

 Scenario

Suppose, loan taken in 2019-20 amounting to Rs. 5,00,000/-

during 2020-21 Interest credited @ 12% Rs 60,000/- (TDS Deducted and paid Rs. 4,500/- @ 10% subject to 25% rate cut ) 

Loan repaid on 31-03-2021, amount paid Rs. 5,55,500/-

Question

1. While reporting under clause 31(c), whether Rs. 5,55,500/- (exclusive of TDS) will be reported or Rs. 5,60,000/-  (Inclusive of TDS) will be reported ?

2. In case of "Maximum amount outstanding in the account at any time during the previous year" whether Rs 5,60,000/- or Rs. 5,55,500/- will be reported  ?

(Interest, TDS and Repayment all recorded on 31/03/2021)

Replies (2)
Loan amount inclusive of interest should be reported.
In my view, Maximum amount outstanding in the account at any time during the previous year shall be Rs.5,55,500/-(exclusive of TDS) because that TDS portion does not belongs to the Account of loan provider.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 28 June 2026
Article Assistant

Sharma Chetan And Company

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 14 July 2026
Article Assistants

R Shyam and Associates

New Delhi

CA Final

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details