{"id":198946,"date":"2018-07-26T11:51:23","date_gmt":"2018-07-26T06:21:23","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=198946"},"modified":"2018-07-26T11:51:23","modified_gmt":"2018-07-26T06:21:23","slug":"the-income-tax-8th-amendment-rules-2018-amendments-in-form-no-3cd-tax-audit-report-applicable-from-20th-august-2018","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2018\/07\/26\/the-income-tax-8th-amendment-rules-2018-amendments-in-form-no-3cd-tax-audit-report-applicable-from-20th-august-2018\/","title":{"rendered":"The Income Tax (8th Amendment) Rules, 2018 | Amendments in Form No. 3CD (Tax Audit Report), applicable from 20th August 2018"},"content":{"rendered":"

G.<\/strong>S<\/strong>.<\/strong>R<\/strong>. 666(E). <\/strong>\u2013 In exercise of the powers conferred by Section 44AB read with Section 295 of the Income Tax Act, 1961 (43 of 1961) (hereinafter referred to as the Income Tax Act), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income Tax Rules, 1962, namely:<\/p>\n

1.(1) These rules may be called the Income Tax (8th Amendment) Rules, 2018.<\/p>\n

(2) They shall come into force from the 20th day of August, 2018.<\/p>\n

2. In the Income-tax Rules, 1962, in Appendix II, in Form No. 3CD,-<\/p>\n

(i) in serial number 4,-<\/p>\n

(a) after the words \u201csales tax,\u201d, the words \u201cgoods and services tax,\u201d shall be inserted;<\/p>\n

(b) after the words \u201cregistration number or\u201d, the words \u201cGST number or\u201d shall be inserted;<\/p>\n

(ii) in serial number 19, in the table, after the row with entry \u201c32AC\u201d, the row with entry \u201c32AD\u201d shall be inserted;<\/p>\n

(iii) in serial number 24, after the words \u201c32AC or\u201d, the words \u201c32AD or\u201d shall be inserted;<\/p>\n

(iv) in serial number 26, for the words \u201cor (f)\u201d, the words \u201c, (f) or (g)\u201d shall be substituted;<\/p>\n

(v) after serial number 29 and the entries relating thereto, the following shall be inserted, namely:<\/p>\n

\u201c29A. (a) Whether any amount is to be included as income chargeable \u00a0under the head \u2018income from other sources\u2019 as referred to in clause (ix) of sub-section (2) of Section 56? (Yes\/No)<\/p>\n

(b) If yes, please furnish the following details:<\/p>\n

(i) Nature of income:<\/p>\n

(ii) Amount thereof:<\/p>\n

29B. (a) Whether \u00a0any amount\u00a0 is to be included \u00a0as income \u00a0chargeable \u00a0under the head \u2018income \u00a0from other sources\u2019 as referred to in clause (x) of sub-section (2) of section 56? (Yes\/No)<\/p>\n

(b) If yes, please furnish the following details:<\/p>\n

(i) Nature of income:<\/p>\n

(ii) Amount (in Rs.) thereof:\u201d;<\/p>\n

(vi) after serial number 30 and the entries relating thereto, the following shall be inserted, namely:<\/p>\n

\u201c30A. (a) Whether primary adjustment to transfer price, as referred to in sub-section (1) of Section 92CE, has been made during the previous year? (Yes\/No)<\/p>\n

(b) If yes, please furnish the following details:<\/p>\n

(i) Under which clause of sub-section (1) of Section 92CE primary adjustment is made?<\/p>\n

(ii) Amount (in Rs.) of primary adjustment:<\/p>\n

(iii) Whether the excess money available with the associated enterprise is required to be repatriated to India as per the provisions of sub-section (2) of Section 92CE? \u00a0(Yes\/No)<\/p>\n

(iv) If yes, whether the excess money has been repatriated within the prescribed time (Yes\/No)<\/p>\n

(v) \u00a0If \u00a0no, \u00a0the \u00a0amount \u00a0(in \u00a0Rs.) \u00a0of \u00a0imputed \u00a0interest \u00a0income \u00a0on \u00a0such \u00a0excess \u00a0money \u00a0which \u00a0has \u00a0not \u00a0been repatriated within the prescribed time:<\/p>\n

30B. (a) Whether \u00a0the assessee \u00a0has incurred\u00a0 expenditure \u00a0during the previous \u00a0year by way of interest \u00a0or of similar nature exceeding one crore rupees as referred to in sub-section (1) of Section 94B? (Yes\/No)<\/p>\n

(b) If yes, please furnish the following details:<\/p>\n

(i) Amount (in Rs.) of expenditure by way of interest or of similar nature incurred:<\/p>\n

(ii) Earnings before interest, tax, depreciation and amortization (EBITDA) during the previous year (in Rs.):<\/p>\n

(iii) Amount (in Rs.) of expenditure \u00a0by way of interest or of similar nature as per (i) above which exceeds 30% of EBITDA as per (ii) above:<\/p>\n

(iv) Details of interest expenditure brought forward as per sub-section (4) of Section 94B:<\/p>\n\n\n\n\n
A.Y.<\/td>\nAmount (in Rs.)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

(v) Details of interest expenditure carried forward as per sub-section (4) of Section 94B:<\/p>\n\n\n\n\n
A.Y.<\/td>\nAmount (in Rs.)<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

30C. (a) Whether \u00a0the assessee \u00a0has entered \u00a0into an impermissible \u00a0avoidance \u00a0arrangement, \u00a0as referred to in Section 96, during the previous year? (Yes\/No)<\/p>\n

(b) If yes, please specify:<\/p>\n

(i) Nature of the impermissible avoidance arrangement:<\/p>\n

(ii) \u00a0Amount \u00a0(in \u00a0Rs.) \u00a0of \u00a0tax \u00a0benefit \u00a0in \u00a0the \u00a0previous \u00a0year \u00a0arising, \u00a0in \u00a0aggregate, \u00a0to \u00a0all \u00a0the \u00a0parties \u00a0to \u00a0the arrangement:\u201d;<\/p>\n

(vii) in serial number 31,-<\/p>\n

(A) after clause (b), the following clauses and entries relating thereto shall be inserted, namely:<\/p>\n

\u201c(ba) Particulars of each receipt in an amount exceeding the limit specified in Section 269ST, in aggregate from a person \u00a0in a day or in respect \u00a0of a single \u00a0transaction \u00a0or in respect \u00a0of transactions \u00a0relating \u00a0to one event \u00a0or occasion from a person, during the previous year, where such receipt is otherwise than by a cheque or bank draft or use of electronic clearing system through a bank account:<\/p>\n

(i) Name, address and Permanent Account Number (if available with the assessee) of the payer;<\/p>\n

(ii) Nature of transaction;<\/p>\n

(iii) Amount of receipt (in Rs.);<\/p>\n

(iv) Date of receipt;<\/p>\n

(bb) Particulars of each receipt in an amount exceeding the limit specified in Section 269ST, in aggregate from a person\u00a0 in a day or in respect \u00a0of a single \u00a0transaction \u00a0or in respect \u00a0of transactions \u00a0relating \u00a0to one event \u00a0or occasion from a person, received by a cheque or bank draft, not being an account payee cheque or an account payee bank draft, during the previous year:<\/p>\n

(i) Name, address and Permanent Account Number (if available with the assessee) of the payer;<\/p>\n

(ii) Amount of receipt (in Rs.);<\/p>\n

(bc) Particulars of each payment made in an amount exceeding the limit specified in Section 269ST, in aggregate to a person in a day or in respect \u00a0of a single transaction \u00a0or in respect \u00a0of transactions \u00a0relating to one event or occasion to a person, otherwise than by a cheque or bank draft or use of electronic clearing system through a bank account during the previous year:<\/p>\n

(i) Name, address and Permanent Account Number (if available with the assessee) of the payee;<\/p>\n

(ii) Nature of transaction;<\/p>\n

(iii) Amount of payment (in Rs.);<\/p>\n

(iv) Date of payment;<\/p>\n

(bd) Particulars \u00a0of each payment \u00a0in an amount exceeding \u00a0the limit specified \u00a0in Section \u00a0269ST, in aggregate \u00a0to a person\u00a0 in a day or in respect \u00a0of a single \u00a0transaction \u00a0or in respect \u00a0of transactions \u00a0relating \u00a0to one event \u00a0or occasion to a person, made by a cheque or bank draft, not being an account payee cheque or an account payee bank draft, during the previous year:<\/p>\n

(i) Name, address and Permanent Account Number (if available with the assessee) of the payee;<\/p>\n

(ii) Amount of payment (in Rs.);<\/p>\n

(Particulars \u00a0at \u00a0(ba), \u00a0(bb), \u00a0(bc) \u00a0and \u00a0(bd) \u00a0need \u00a0not \u00a0be \u00a0given \u00a0in \u00a0the \u00a0case \u00a0of \u00a0receipt \u00a0by \u00a0or \u00a0payment \u00a0to\u00a0 a Government company, a banking Company, a post office savings bank, a cooperative bank or in the case of transactions \u00a0referred \u00a0to in Section 269SS \u00a0or in the \u00a0case \u00a0of \u00a0persons \u00a0referred \u00a0to in Notification \u00a0No. \u00a0S.O. 2065(E) dated 3rd July, 2017)\u201d;<\/p>\n

(B) in item (c), in sub-item (v), for the words \u201ctaken or accepted\u201d, the word \u201crepaid\u201d shall be substituted;<\/p>\n

(C) in item (d), in sub-item (ii), after the words \u201camount of\u201d, the words \u201crepayment of\u201d shall be inserted;<\/p>\n

(D) in item (e), in sub-item (ii), after the words, \u201camount of\u201d, the words \u201crepayment of\u201d shall be inserted; (viii) in serial number 34, for item (b), the following item shall be substituted, namely:<\/p>\n

\u201c(b) whether the assessee is required to furnish the statement of tax deducted or tax collected. If yes, please furnish the details:<\/p>\n\n\n\n\n
Tax deduction and collection Account Number (TAN)<\/td>\n\n

Type of Form<\/p>\n<\/td>\n

Due date for furnishing<\/td>\nDate of furnishing, if furnished<\/td>\nWhether the statement of tax deducted or collected contains information about all details\/transactions \u00a0which are required\u00a0 to be reported. \u00a0If not, please \u00a0furnish\u00a0 list of details\/transactions \u00a0which \u00a0are\u00a0 not reported.\u201d;<\/td>\n<\/tr>\n
<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

(ix) after serial number 36 and the entries relating thereto, the following shall be inserted, namely:<\/p>\n

\u201c36A. (a) Whether \u00a0the assessee \u00a0has received \u00a0any amount in the nature of dividend as referred to in sub-clause \u00a0(e) of clause (22) of Section 2? (Yes\/No)<\/p>\n

(b) If yes, please furnish the following details:<\/p>\n

(i) Amount received (in Rs.):<\/p>\n

(ii) Date of receipt:\u201d;<\/p>\n

(x) after serial number 41 and the entries relating thereto, the following shall be inserted, namely:<\/p>\n

\u201c42. (a) Whether \u00a0the assessee \u00a0is required \u00a0to furnish \u00a0statement \u00a0in Form No.61 \u00a0or Form No. 61A\u00a0 or Form No. 61B? (Yes\/No)<\/p>\n

(b) If yes, please furnish:<\/p>\n\n\n\n\n
\n

Income-tax Department Reporting\u00a0\u00a0\u00a0\u00a0\u00a0 Entity Identification Number<\/p>\n<\/td>\n

Type of Form<\/td>\n\n

Due date\u00a0\u00a0\u00a0\u00a0 for furnishing<\/p>\n<\/td>\n

\n

Date of furnishing,\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 if furnished<\/p>\n<\/td>\n

\n

Whether the Form\u00a0 contains information about all details\/ transactions which are required to be reported. If not, please furnish list of the details\/transactions which are not reported.<\/p>\n<\/td>\n<\/tr>\n

<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
    \n
  1. (a) Whether the assessee or its parent entity or alternate reporting entity is liable to furnish the report as referred to in sub-section (2) of Section 286 (Yes\/No)<\/li>\n<\/ol>\n

    (b) if yes, please furnish the following details:<\/p>\n

    (i) Whether report has been furnished by the assessee or its parent entity or an alternate reporting entity<\/p>\n

    (ii) Name of parent entity<\/p>\n

    (iii) Name of alternate reporting entity (if applicable)<\/p>\n

    (iv) Date of furnishing of report<\/p>\n

      \n
    1. Break-up of total expenditure of entities registered or not registered under the GST:<\/li>\n<\/ol>\n\n\n\n\n\n\n
      Sl. No.<\/td>\nTotal amount \u00a0of Expenditure incurred during the year<\/td>\nExpenditure in respect \u00a0of entities registered under GST<\/td>\nExpenditure\u00a0 \u00a0relating to entities not registered under GST<\/td>\n<\/tr>\n
      <\/td>\n<\/td>\nRelating \u00a0to goods\u00a0\u00a0\u00a0\u00a0 \u00a0or services exempt from GST<\/td>\nRelating\u00a0\u00a0 to entities falling under composition scheme<\/td>\nRelating to other registered entities<\/td>\nTotal payment to registered entities<\/td>\n<\/td>\n<\/tr>\n
      (1)<\/td>\n(2)<\/td>\n(3)<\/td>\n(4)<\/td>\n(5)<\/td>\n(6)<\/td>\n(7)\u201d<\/td>\n<\/tr>\n
      <\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

      [Notification No. \u00a033\/2018\/F.No. 370142\/9\/2018-TPL]<\/p>\n

      N<\/strong>ote: <\/strong>The Principal Rules were published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii) vide notification \u00a0number S.O. 969(E) dated the 26th of March, 1962 and were last amended vide notification \u00a0number G.S.R 647 (E) dated 13.07.2018.<\/p>\n

      \n","protected":false},"excerpt":{"rendered":"

      G.S.R. 666(E). \u2013 In exercise of the powers conferred by Section 44AB read with Section 295 of the Income Tax Act, 1961 <\/p>\n","protected":false},"author":91,"featured_media":52961,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[31154,31153,31155],"class_list":["post-198946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations","tag-form-3cd","tag-income-tax-8th-amendment-rules","tag-tax-audit-report"],"yoast_head":"\nThe Income Tax (8th Amendment) Rules, 2018 | Amendments in Form No. 3CD (Tax Audit Report), applicable from 20th August 2018 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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