1 Replies
CA Sunil Kumar
(Chartered Accountant)
(4524 Points)
Replied 25 July 2018
*Tax Audit 3CD Revised!*
_*6 Amendments + 9 Insertions = Total 15 Changes*_
*Summary of Amendments:*
1. *4* - GSTIN to be mentioned.
2. *19* - Allowance under Section 32AD is to be reported.
3. *24* - Deemed gains under Section 32AD to be reported.
4. *26* - Clause (g) of Section 43B (sum payable to Indian Railways for use of assets) is to be reported.
5. *31* - *Cash receipts more than INR 2,00,000 under Section 269ST is to be reported now.*
6. *34* - *Details with respect to transactions not disclosed in TDS Return/ TCS Return is to be mentioned.*
*Summary of Insertions:*
1. *29A* - *Advance received on capital asset forfeited to be reported here {Section 56(2)(ix)}.*
2. *29B* - Income of gifts exceeding INR 50,000 to be reported here {Section 56(2)(x)}.
3. *30A* - Details about "Primary Adjustments" in transfer pricing to be reported here as per Section 92CE.
4. *30B* - Limitation of Interest deductions for borrowings from a AE upto 30% of EBITDA is to be furnished here.
5. *30C* - Details of Impermissible Avoidance Agreement to be furnished as referred to in Section 96.
6. *36A* - *Dividend received under Section 2(22)(e) is required to be reported here.*
7. *42* - Details w.r.t. Form 61 (details of no PAN Form 60 received), Form 61A (SFT) and Form 61B (SRA) is to be provided here.
8. *43* - *Details w.r.t. CbC Reporting as referred to in Section 286 is required to be reported.*
9. *44* - *BREAK UP of total expenditure in respect of GST Registered and Unregistered Entities is required to be given.*
*Notification 33/2018 dated 20.07.2018 (effective from 20.08.2018).*
_*6 Amendments + 9 Insertions = Total 15 Changes*_
*Summary of Amendments:*
1. *4* - GSTIN to be mentioned.
2. *19* - Allowance under Section 32AD is to be reported.
3. *24* - Deemed gains under Section 32AD to be reported.
4. *26* - Clause (g) of Section 43B (sum payable to Indian Railways for use of assets) is to be reported.
5. *31* - *Cash receipts more than INR 2,00,000 under Section 269ST is to be reported now.*
6. *34* - *Details with respect to transactions not disclosed in TDS Return/ TCS Return is to be mentioned.*
*Summary of Insertions:*
1. *29A* - *Advance received on capital asset forfeited to be reported here {Section 56(2)(ix)}.*
2. *29B* - Income of gifts exceeding INR 50,000 to be reported here {Section 56(2)(x)}.
3. *30A* - Details about "Primary Adjustments" in transfer pricing to be reported here as per Section 92CE.
4. *30B* - Limitation of Interest deductions for borrowings from a AE upto 30% of EBITDA is to be furnished here.
5. *30C* - Details of Impermissible Avoidance Agreement to be furnished as referred to in Section 96.
6. *36A* - *Dividend received under Section 2(22)(e) is required to be reported here.*
7. *42* - Details w.r.t. Form 61 (details of no PAN Form 60 received), Form 61A (SFT) and Form 61B (SRA) is to be provided here.
8. *43* - *Details w.r.t. CbC Reporting as referred to in Section 286 is required to be reported.*
9. *44* - *BREAK UP of total expenditure in respect of GST Registered and Unregistered Entities is required to be given.*
*Notification 33/2018 dated 20.07.2018 (effective from 20.08.2018).*
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