Starting FY 2024-25 audits, auditors are required to report loan/advance accepted under Clause 31 – date-wise, lender-wise, and even mode-wise in Form 3CD.
What used to be a summary disclosure has now turned into a huge compliance burden.
Professionals, be prepared. Heavy detailing expected under Clause 31 of Form 3CD.
Section 269SS & 269T & 269ST Alert – Tax Audit Reporting
