Income Tax Notifications & Order IT

Amendments made in Form 3CD effective from AY 2024-25

CA Adityavikram Banka

Amendments made in Form 3CD effective from AY 2024-25:

Below are the clauses in which changes are made:
1. Clause 8a (Whether company has opted for the special tax regime with lower tax rates)-
Clause 8a adds the reference to Section 115BAE.

2. Clause 12 (Reporting of profits assessable under presumptive tax schemes credited to P&L)-
A reference to section 44ADA has been specifically added.

3. Clause 18 (Depreciation admissible)-
For the AY 2024-25, individuals/HUF/AOP/BOI etc opting for section 115BAC(1A) are required to adjust the opening WDV in terms of provisions of the section.

4. Clause 19 (Amount admissible as deduction under Sections 35, 35D, etc.)-
Additional entries have been inserted in clause 19 namely – Section 35ABA and Any other relevant section.

5. Clause 21(a) [Amounts debited to P&L covered by Explanation 3 to section 37(1)]- Additional entries have been inserted for amounts paid for compounding of offences, expenses for offences prohibited by law

6. Clause 26 (Amounts covered Section 43B) In this clause, after (g), the word (h) of section 43B has been added.

7. Clause 32 (Brought forward loss or depreciation)- for the figures and letters “115BAD”, the figures and letters “115BAD/115BAE” shall be substituted

CA Adityavikram Banka
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