Amendment in form 3CD under Income Tax Act 1961

FORM NO. 3CD
(as amended by Notification no. 208/2006, dated 10-8-2006)
[See rule 6 G(2)]

Statement of particulars required to be furnished under section 44AB of the Income-tax Act 1961


PART - A

1. Name of the assessee
2. Address
3. Permanent Account Number
4. Status
5. Previous year ended
6. Assessment year

PART - B

7. (a) If firm or Association of Persons, indicate names of partners/members and their

profit sharing ratios.

(b) If there is any change in the partners or members or in their profit sharing ratio since the

last date of the preceding year, the particulars of such change

8. (a) Nature of business or profession (if more than one business or profession is carried on

during the previous year, nature of every business or profession)

(b) If there is any change in the nature of business or profession, the particulars of such

change.

9. (a) Whether boos of account are prescribed under section 44AA, if yes, list of books so
Prescribed.

(b) Books of account maintained.
(In case books of account are maintained in a computer system, mention the books of
account generated by such computer system.)

(c) List of books of account examined.

10. Whether the profit and loss account includes any Profits and gains assessable on

presumptive basis, if yes, indicate the amount and the relevant section (44AD, 44AE, 44AF,

44B, 44BB, 44BBA, 44BBB or any other relevant section.)

11. (a) Method of accounting employed in the previous year

(b) Whether there had been any change in the method of accounting employed vis-à-vis

the method employed in the immediately Preceding previous year.

(c) If answer to (b) above is in the affirmative, give details of such change, and the effect

Thereof on the profit or loss.

(d) Details of deviation, if any, in the method of accounting employed in the previous

year from accounting standards prescribed under section 145 and the effect thereof on

the profit or loss.

12. (a) Method of valuation of closing stock employed in the previous year.

(b) Details of deviation, if any, from the method of valuation prescribed under section

145A, and the effect thereof on the profit or loss.

12A Give the following particulars of the capital asset converted into stock-in-trade: -
(a) Description of capital asset,
(b) Date of acquisition;
(c) Cost of acquisition;
(d) Amount at which the asset is converted into stock-in-trade.

13. Amounts not credited to the profit and loss Account, being, -

(a) the items falling within the scope of section 28;

(b) the proforma credits, drawbacks, refund of duty of customs or excise or service tax, or

refund of sales tax or value added tax where such credits, drawbacks or refunds are

admitted as due by the authorities concerned;

(c) escalation claims accepted during the previous year;

(d) any other item of income;

(e) capital receipt, if any.

14. Particulars of depreciation allowable as per the Income-tax Act, 1961 in respect of each asset

or Block of assets, as the case may be, in the Following form :-
(a) Description of asset/block of assets.

(b) Rate of depreciation.

(c) Actual cost of written down value, as the case may be.

(d) Additions/deductions during the year with dates; in the case of any addition of an asset,
date put to use; including adjustments on account of
i) Modified Value Added Tax credit claimed and allowed under the Central Excise
rules, 1944, in respect of assets acquired on or after 1st March, 1994,

ii) change in rate of exchange of currency, and

iii) subsidy or grant or reimbursement, by whatever name called.

(e) Depreciation allowable.

(f) Written down value at the end of the year

15. Amounts admissible under sections -
(a) 33AB
(b) 33ABA
(c) 33AC (wherever applicable)
(d) 35
(e) 35ABB
(f) 35AC
(g) 35CCA
(h) 35CCB
(i) 35D
(j) 35DD
(k) 35DDA
(l) 35E”

(a) debited to the profit and loss account (showing the amount debited and deduction

allowable under each section separately);

(b) not debited to the profit and loss account

16. (a) Any sum paid to an employee as bonus or commission for services rendered, where such

sum was otherwise payable to him as profits or dividend. [Section 36(1)(ii)]

(b) Any sum received from employees towards contributions to any provident fund or

superannuation fund or any other fund mentioned in section 2(24)(x); and due date for
payment and the actual date of payment to the concerned authorities under section

36(1) (va).


17. Amounts debited to the profit and loss account, being :-
(a) expenditure of capital nature;

(b) expenditure of personal nature;

(c) expenditure on advertisement in any souvenir, brochure, tract, pamphlet or the like,

published by a political party;

(d) expenditure incurred at clubs, -

(i) as entrance fees and subscriptions.

(ii) as cost for club services and facilities used.

(e) (i) expenditure by way of penalty or fine for violation of any law for the time being in

force;
(ii) any other penalty or fine :

(iii) expenditure incurred for any purpose which is an offence or which is prohibited by law;

(f) amounts inadmissible under section 40(a);

(g) interest, salary, bonus, commission or remuneration inadmissible under section

40(b)/40(ba) and computation thereof;

(h) (A) whether a certificate has been obtained from the assessee regarding payments

relating to any expenditure covered under section 40A(3) that the payments were

made by account payee cheques drawn on a bank or account payee bank draft, as the

case may be, [Yes/No]

(B) amount inadmissible under section 40A(3), read with rule 6DD [with break-up of

inadmissible amounts]

(i) provision for payment of gratuity not allowable under section 40A(7);

(j) any sum paid by the assessee as an employer not allowable under section 40A(9);

(k) particulars of any liability of a contingent nature.

(l) amount of deduction inadmissible in terms of section 14A in respect of the expenditure

incurred in relation to income which does not form part of the total income, amount

inadmissible under the proviso to section 36(1)(iii)

17A Amount of Interest inadmissible under section 23 of Micro, Small and Medium Enterprises

Development Act, 2006

(This Point has been inserted in form 3CD for the Financial Year 2008-09 onwards)

18. Particulars of payments made to persons specified under section 40A(2)(b).

19. Amounts deemed to be profits and gains under section 33AB or 33ABA or 33AC.

20. Any amount of Profit chargeable to tax under section 41 and computation there of

21. *(i) In respect of any sum referred to in clause (a),(b), (c), (d), (e) of section 43B, the

liability for which;

(A) pre-existed on the first day of the previous year but was not allowed in the

assessment of any preceding previous year and was
(a) paid during the previous year;
(b) not paid during the previous year;


(B) was incurred in the previous year and was

(a) paid on or before the due date for furnishing the return of income of

the previous year under section 139(1);

(b) not paid on or before the aforesaid date.

* State whether sales tax, customs duty, excise duty or any other indirect tax, levy, cess,

impost etc. is passed through the profit and loss account.

22. (a) Amount of Modified Value Added Tax credits availed of or utilised during the

previous year and its treatment in the profit and loss account and treatment of

outstanding Modified Value Added Tax credits in the Accounts.

23. Details of any amount borrowed on hundi or any amount due thereon (including interest on

the amount borrowed) repaid, otherwise than through an account payee cheque.

[Section 69D]

24. *(a) Particulars of each loan or deposit in an amount exceeding the limit specified in

section 269SS taken or accepted during the previous year :-
(i) name, address and permanent account number (if available with the assessee)

of the lender or depositor;

(ii) amount of loan or deposit taken or accepted;

(iii) whether the loan or deposit was squared up during the previous year;

(iv) maximum amount outstanding in the account at any time during the

previous year;

(v) whether the loan or deposit was taken or accepted otherwise than by an account

payee cheque or an account payee bank draft.

*(These particulars needs not be given in the case of a Government company, a banking

company or a corporation established by a Central, State or Provincial Act.)

(b) Particulars of each repayment of loan or deposit in an amount exceeding the limit

specified in section 269T made during the previous year :-
(i) name, address and permanent account number (if available with the assessee) of the

payee;

(ii) amount of the repayment;
(iii) maximum amounts outstanding in the account at any time during the previous year;
(iv) Whether the repayment was made otherwise than by account payee cheque or account

payee bank draft.
(c) Whether a certificate has been obtained from the assessee regarding taking or accepting

loan or deposit, or repayment of the same through an account payee cheque or an account

payee bank draft. [Yes/No]

The particulars (i) to (iv) at (b) and the Certificate at (c) above need not be given in the case of a repayment of any loan or deposit taken or accepted from Government, Government company, banking company or a corporation established by a Central, State or Provincial Act

25(a) Details of brought forward loss or depreciation allowance, in the following manner, to the

extent available:

Serial Assessment Nature of Amount as Amount as Remarks

Number Year Loss/allowance Returned Assessed

(b) whether a change in shareholding of the company has taken place in the previous year due

to which the losses incurred prior to the previous year cannot be allowed to be carried

forward in terms of section 79.

26. Section-wise details of deductions, if any, Admissible under Chapter VIA.

27. (a) Whether the assessee has complied with the provisions of Chapter XVII-B regarding

deduction of tax at source and regarding the payment thereof to the credit of the Central

Government. [Yes/No]
(b) If the provisions of Chapter XVII-B have not been complied with, please give the

following details*, namely:-

(i) Tax deductible and not deducted at all

(ii) shortfall on account of lesser deduction than required to be deducted

(iii) tax deducted late

(iv) tax deducted but not paid to the credit of the Central Government

“Please give the details of cases covered in (i) to (iv) above.”

28. (a) In the case of a trading concern, give quantitative details of principal items of goods

traded :
(i) Opening Stock;
(ii) Purchases during the previous year;
(iii) Sales during the previous year;
(iv) Closing Stock;
(v) Shortage/excess, if any

(b) In the case of a manufacturing concern, give quantitative details of the principal items of

raw materials, finished products and by-products :
A Raw Materials :
(i) opening stock;
(ii) Purchases during the previous year;
(iii) Consumption during the previous year;
(iv) sales during the previous year;
(v) closing stock;
(vi)* yield of finished products;
(vii)* Percentage of yield;
(viii)* Shortage/excess, if any.

B. Finished products/By-products :
(i) opening stock;
(ii) purchase during the previous year;
(iii) quantity manufactured during the previous year;
(iv) sales during the previous year;
(v) closing stock;
(vi) shortage/excess, if any.
*Information may be given to the extent available.

29. In the case of a domestic company, details of tax on distributed profits under section 115O in

the following form :-
(a) total amount of distributed profits;
(b) total tax paid thereon;
(c) dates of payment with amounts.

30. Whether any cost audit was carried out, if yes, Enclose a copy of the report of such audit

[See section 139(9)].

31. Whether any audit was conducted under the Central Excise Act, 1944, if yes, enclose a

copy of the report of such audit.

32. Accounting ratios with calculations as follows :-

(a) Gross profit/Turnover;
(b) Net profit/Turnover;
(c) Stock-in-trade/Turnover;
(d) Material consumed/Finished goods produced.