Form 3CD, Download Income Tax Form 3CD in PDF Format

FORM NO. 3CD for For an Assessee Carrying on Business or Profession. FORM NO. 3CD is prescribed in the case of both corporate and non-corporate assessee carrying on business or profession as annexure to the Audit report in form no. 3CA or 3CB, and has been designed with a view to facilitating the determination of the assessee’s income from business or profession

FORM NO. 3CD

[See rule 6G (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

:

31st March

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 books 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 sections (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 has been any change in the method of accounting employed vis-a-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 or 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;

(m)

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

17A. Amount of interest inadmissible under section 23 of the Micro Small and Medium Enterprises Development Act, 2006.

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 thereof.

21.

(i) In respect of any sum referred to in clause (a), (b), (c), (d), (e) or (f) 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.

(ii) [***]

*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 utilized 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.

(b)

Particulars of income or expenditure of prior period credited or debited to the profit and loss account.

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 need 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 amount 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.     Details of brought forward loss or depreciation allowance, in the following manner, to the extent available:

(a)

Serial Number

Assessment Year

Nature of loss/allowance (in rupees)

Amount as returned (in rupees)

Amount as assessed (give reference to relevant order)

Remarks

(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:-

Amount

(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)

purchases 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 115-O 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.

* Signed

Place
    Name:

Date


    Address:

Annexure I

PART A

1.

Name of the assessee

:

2.

Address

:

3.

Permanent Account Number

:

4.

Status

:

5.

Previous year ended

:

31st March

6.

Assessment year

:

PART B

Nature of business or profession in respect of every business or profession carried on during the previous year

Code*

Sl. No.

Parameters

Current year

Preceding year

1.

Paid-up share capital/capital of partner/proprietor

2.

Share Application Money/Current Account of Partner or Proprietor, if any

3.

Reserves and Surplus/Profit and Loss Account

4.

Secured loans

5.

Unsecured loans

6.

Current liabilities and provisions

7.

Total of Balance Sheet

8.

Gross turnover/gross receipts

9.

Gross profit

10.

Commission received

11.

Commission paid

12.

Interest received

13.

Interest paid

14.

Depreciation as per books of account

15.

Net Profit (or loss) before tax as per Profit and Loss Account

16.

Taxes on income paid/provided for in the books

Signed

Place:

Date:

Note:

*Please enter the relevant code pertaining to the main area of your business activity. The codes are as follows:

Sector

Sub-Sector

Code

(1)

Manufacturing Industry

Agro-based industries

0101

Automobile and Auto parts

0102

Cement

0103

Diamond cutting

0104

Drugs and Pharmaceuticals

0105

Electronics including Computer Hardware

0106

Engineering goods

0107

Fertilizers, Chemicals, Paints

0108

Flour & Rice Mills

0109

Food Processing Units

0110

Marble & Granite

0111

Paper

0112

Petroleum and Petrochemicals

0113

Power and energy

0114

Printing & Publishing

0115

Rubber

0116

Steel

0117

Sugar

0118

Tea, Coffee

0119

Textiles, Handloom, Powerlooms

0120

Tobacco

0121

Tyre

0122

Vanaspati & Edible Oils

0123

Others

0124

(2)

Trading

Chain stores

0201

Retailers

0202

Wholesalers

0203

Others

0204

(3)

Commission Agents

General Commission Agents

0301

(4)

Builders

Builders

0401

Estate agents

0402

Property Developers

0403

Others

0404

(5)

Contractors

Civil Contractors

0501

Excise Contractors

0502

Forest Contractors

0503

Mining Contractors

0504

Others

0505

(6)

Professionals

Chartered Accountants, Auditors, etc.

0601

Fashion designers

0602

Legal professionals

0603

Medical professionals

0604

Nursing Homes

0605

Specialty hospitals

0606

Others

0607

(7)

Service Sector

Advertisement agencies

0701

Beauty Parlours

0702

Consultancy services

0703

Courier Agencies

0704

Computer training/educational and coaching institutes

0705

Forex Dealers

0706

Hospitality services

0707

Hotels

0708

I.T. enabled services, BPO service providers

0709

Security agencies

0710

Software development agencies

0711

Transporters

0712

Travel agents, tour operators

0713

Others

0714

(8)

Financial Service Sector

Banking Companies

0801

Chit Funds

0802

Financial Institutions

0803

Financial service providers

0804

Leasing Companies

0805

Money Lenders

0806

Non-Banking Financial Companies

0807

Share Brokers, Sub-brokers, etc.

0808

Others

0809

(9)

Entertainment Industry

Cable T.V. productions

0901

Film distribution

0902

Film laboratories

0903

Motion Picture Producers

0904

Television Channels

0905

Others

0906.

Annexure – II

VALUE OF FRINGE BENEFITS IN TERMS OF SECTION 115WC READ WITH SECTION 115WB FOR THE ASSESSMENT YEAR

Sl. No.

Section under which chargeable to Fringe Benefit Tax

Nature of expenditure/payment

Amount of expenditure incurred or payment made

Deductions, if any

Total

Percentage of expenditure/ Payment being fringe benefits

Value of fringe benefits

(1)

(2)

(3)

(4)

(5)

(6)

(4-5)

(7)

(8)

Debited to the Profit and Loss Account

Accounted for in the balance sheet

Reimburse-ment

Any other head

Total

1.

115WB(1)(b)

Free or concessional ticket provided by the employer for private journeys of his employees or their family members

100%

2.

115WB(1)(c)

Any contribution by the employer to any approved Superannuation fund for employees

(see Note 1)

100%

3.

115WB(2)(A)

Entertainment

20%


4.

115WB(2)(B)

Provision of Hospitality of every kind by the employer to any person

(see Note 2)

20%

(see Note 3)

5.

115WB(2)(C)

Conference

(other than fee for participation by the employees in any conference

(see Note 4)

20%


6.

115WB(2)(D)

Sales promotion including publicity

(see Note 5)

20%


7.

115WB(2)(E)

Employees’ Welfare

(see Note 6)

20%


8.

115WB(2)(F)

Conveyance, tour and travel

(including foreign travel)

(see Note 7)

20%

(see Note 8)

9.

115WB(2)(G)

Use of hotel, boarding and lodging facilities

20%

(see Note 9)

10.

115WB(2)(H)

Repair, running

(including fuel),

maintenance of motor cars and the amount of depreciation thereon

20%

(see Note 10)

11.

115WB(2)(I)

Repair, running

(including fuel) and maintenance of aircrafts and the amount of depreciation thereon

20%

(see Note 11)


12.

115WB(2)(J)

Use of telephone (including mobile phone)

other than expenditure on leased telephone lines

20%


13

115WB(2)(K)

Maintenance of any accommodation in the nature of guest house other than accommodation used for training purposes

20%


14.

115WB(2)(L)

Festival celebrations

50%


15.

115WB(2)(M)

Use of health club and similar facilities

50%


16.

115WB(2)(N)

Use of any other club facilities

50%


17.

115WB(2)(O)

Gifts

50%


18.

115WB(2)(P)

Scholarships

50%


19.

115WB(2)(Q)

Tour and Travel (including foreign travel)

(see Note 12)

5%


20.

Total


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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