Amendment in IT rules regarding Form 3CA-3CB-3CD

Amendment in IT rules regarding Form 3CA-3CB-3CD

1st Change Purpose- Rule 6G

Since there is gap of 1 month between tax audit date and return filing date, that may cover some payments falling u/s 40 (TDS) and 43B. It might be possible to disallow those at time of tax audit but later on in ITR Filing, these may be allowed on payment. Hence revision allowed.

2nd Change Purpose- Clause 8(a)

From AY 2021-22, New tax regime u/s 115BAC on individuals/HUF is applicable and 115BAD on resident cooperative society. Hence required changes are made.

3rd Change – Clause 17

To cover up the changes made in section 56(2)(x) and 43CA

4th Change-Clause 18

To cover the disallowable portion of depreciation u/s 115BAC and 115BAD. Please note 115BAA effect had already been taken in AY 2020-21 form 3CD.

5th Change – Clause 32(a)

To give effect to provisons of new schemes u/s 115BAC and 115BAD corresponding changes have been made in brought forwarded loss and Unabsorbed depreciation schedule as well.

6th Change- Clause 36 Omitted

It is due to abolition of DDT u/s 115O . Now any dividend received after 01-04-2020 is taxable in hands of recipent hence clause 36 which requires information about of dividends declared and DDT by companies is no longer applicable.

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