Reporting Requirement under clause 30C and 44 of form 3CD (Tax Audit Report )

Updates related to reporting Requirement under clause 30C and 44 of Tax Audit Report

Central Board of Direct Taxes (CBDT) issued order under section 119 of Income-tax Act 1961 on April 24th April 2020 regarding keeping in abeyance some clauses of form 3CD.

Section 44AB of Income-tax Act, 1961 read with rule 6G of Income-tax Rules, 1962 requires specified person to furnish Tax Audit Report along with certain particulars in form 3CD. The form 3CD was amended vide notification no. GSR 666(E) dated 20th July 1988 w.e.f. 20th August 2018.

However, reporting on clause 30C and 44 of the tax audit report in form 3CD was kept in abeyance till 31st March, 2019 vide circular no. 06/2018 dated 17th August 2018 which was subsequently extended to 31.03.2020 vide circular no. 09/2019.

CBDT, vide circular no. 10/2020 dated 24th April 2020, due to prevailing circumstances due to Global Pandemic spread by CoVID 19 virus has decided to keep clause 30C and 44 of tax audit report in abeyance till 31st March 2021.

Clause 30C of Tax Audit Report is related to GAAR provisions as mentioned in Income-tax Act, 1961 whereas clause 44 related to reporting of  Break-up of total expenditure of entities registered or not registered under the GST.

Source: https://www.incometaxindia.gov.in/communications/circular/circular_no_10_2020.pdf 

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