Excel Form-3CD Tax Audit Report u/s 44AB download with Annexures for AY 2018-19 |Updated on 02-09-2018|

CBDT has Revised Tax Audit Report Form 3CD for AY 2018-19 for audit reports issued on or after 20th August 2018 Download revised Form 3CD Click Here >>

Ealrier. CBDT Revised Tax Audit Report Form 3CD applicable from AY 2017-18 to reflect effect of adjustments and disclosures on account of ICDS notified u/s 145(2) Download revised Form 3CD Click Here >>

Central Board of Direct Taxes (CBDT )has vide notification No. 33 dated 25-07-2014 has notified new Form No. 3CA, Form No. 3CB and Form No. 3CD applicable from AY 2014-15.

Form-3CD is a Statement of Particulars which is required to be furnished under section 44AB of the Income Tax Act, 1961.Section 44AB requires the audit (popularly referred to as Tax Audit) of the persons carrying business or professions. The audit requirement is mandatory where during the previous year;

1. The gross sales, turnover or gross receipts of a business exceed one crore rupees.

2. The gross receipts of a profession exceed twenty five lakh rupees

3. The income claimed in a business of playing, hiring, leasing of gods carriage is lower than as per deeming provisions under section 44AE, 44BB or 44BBB

4.  The income claimed is less than eight percent in a business (other than 3 above) with turnover up to one crore as per section 44AD

Previously there were thirty one reporting clauses and one Annexure in Form-3CD whereas in the new revised form-3CD there are 41 reporting clauses.

The revision in new the reporting requirement has significantly increased the responsibility of the tax auditors (Chartered Accountants). As per section 44AB only chartered accountants can perform tax audits.The massive change in the reporting requirement in the format of form-3CD should not be viewed in isolation but as only first step in plugging the tax evasion, money laundering through the close scrutiny of the reports.

If on scrutiny the particulars as furnished in Form 3CD are found to be inaccurate or false, the tax auditors might face strict action. Attention is invited to section 276C related to prosecution for willful attempt to evade tax, etc.

Tax auditors must be very careful in discharging their responsibility while reporting all forty one clauses. They should preserve their working notes  and make suitable observations/qualifications in clause (3) of Form No. 3CA or Clause (5) of Form No. 3CB as the case may be. The Revised (2014) Guidance Note on Tax Audit  issued by ICAI gives vital guidance which must be adhered to.

ABCAUS Excel Form 3CD gives a neatly formatted and Annexure supported option for filling and generating physical copies of Form 3CD.