Tax Audit Report (Form- 3CA, 3CB, 3CD) for AY 2014-15

CBDT has revised the format of Tax Audit Report (Form- 3CA, 3CB, 3CD) for AY 2014-15 vide Notification No. 33/2014 dated 25-07-2014.

The revised report has some clauses which are either new or are different from old 3CD report. Some of them are as follows:

Clause 4. Whether the assessee is liable to pay indirect tax like excise duty, service tax, sales tax, customs duty,etc. if yes, please furnish the registration number or any other identification number allotted for the same.

Clause 8. Indicate the relevant clause of section 44AB under which the audit has been conducted.

Clause 17. Where any land or building or both is transferred during the previous year for a consideration less than value adopted or assessed or assessable by any authority of a State Government referred to in section 43CA or 50C, please furnish:

Details of Property:

Consideration recd. or accrued:

Value adopted or assessed or assessable:

Clause 21(b). Details required to be inserted whether tds paid after due date specified in section 200.

Clause 28. Whether during the previous year the assessee has received any property, being share of a company not being a company in which the public are substantially interested, without consideration or for inadequate consideration as referred to in section 56(2)(viia), if yes, please furnish the details of the same.

Clause 29. Whether during the previous year the assessee received any consideration for issue of shares which exceeds the fair market value of the shares as referred to in section 56(2)(viib), if yes, please furnish the details of the same.

Clause 32(c). Whether the assessee has incurred any speculation loss referred to in section 73 during the previous year, If yes, please furnish the details of the same.

Clause 32(d). Whether the assessee has incurred any loss referred to in section 73A in respect of any specified business during the previous year, if yes, please furnish details of the same.

Clause 32(e).  In case of a company, please state that whether the company is deemed to be carrying on a speculation business as referred in explanation to section 73, if yes, please furnish the details of speculation loss if any incurred during the previous year.

Clause 34. Details of TDS deducted to be filled in full and also interest as per section 201(1a) and 206C(7).  Also details of TDS returns to be given if filed late.

Clause 39. Whether any audit was conducted under section 72A of the Finance Act, 1994 in relation to valuation of taxable services, Finance Act,1994 in relation to valuation of taxable services, if yes, give the details, if any, of disqualification or disagreement on any matter/item/value/quantity as may be reported/identified by the auditor.

Clause 41. Please furnish the details of demand raised or refund issued during the previous year under any tax laws other than Income Tax Act, 1961 and Wealth tax Act, 1957 alongwith details of relevant proceedings.