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CBDT notifies changes in Tax Audit Report for AY 2021-22

extension of form 10a / 10ab

The Central Board of Direct Taxes (CBDT) has notified the following changes in the Form 3CD and inserted a sub rule which are as follows:-

a.  For the purpose of revising the Tax Audit Report, the same may be revised before the end of the relevant assessment year, if there is payment by such person after furnishing of report under sub rule (1) and (2) which necessitates recalculation of disallowance under section 40 or section 43B.

b. The Clause 8A shall be substituted and shall be read as under

“Whether the assessee has opted for taxation under section 115BA / 115BAA / 115BAB / 115BAC / 115BAD?

c. The clause 17 shall be substituted and shall be read as under:

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 43CAor 50C,

Details of propertyConsideration

received or accrued

Value adopted or

assessed or assessable

Whether provisions of

second proviso to subsection

(1) of section 43CA

or fourth proviso to clause

(x) of sub-section (2) of

section 56 applicable?

[Yes/No]

    

d. The sub clauses (ca) and (cb) for clause 18 shall be substituted and shall be read as under

(ca) Adjustment made to the written down value under section 115BAC/115BAD (for assessment year 2021-2022 only)……

(cb) Adjustment made to written down value of Intangible asset due to excluding value of goodwill of a business or profession…..

e. The sub clause (a) in clause 32 shall be substituted and shall be read as under:-

(a) Details of brought forward loss or depreciation allowance, in the following manner, to the extent available

Serial

Number

Assessment

Year

Nature of

loss/

allowance

(in

rupees)

Amount

as

returned*

(in

rupees)

All

losses/allowances

not allowed under

section 115BAA/

115BAC/115BAD

Amount as

adjusted by

withdrawal of

additional

depreciation on

account of opting

for taxation under

section

115BAC/115BAD^

Amounts

as

assessed

(give

reference

to

relevant

order)

Remarks

f. The Clause 36 of the Form shall be omitted.

To view and download the notification click here

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