Tax
Reckoner of Clauses of Form No. 3CD not relevant/applicable to tax audit
Tax
Reckoner of Clauses of Form No. 3CD not applicable to assessees following cash basis of accountingI-15
CLAUSE 3 OF FORM 3CD: PERMANENT ACCOUNT NUMBER
CLAUSE 4 OF FORM 3CD: REGISTRATIONS UNDER INDIRECT TAX LAWS
CLAUSE 5 OF FORM 3CD: STATUS
CLAUSE 6 OF FORM 3CD: PREVIOUS YEAR
CLAUSE 7 OF FORM 3CD: ASSESSMENT YEAR
CLAUSE 8 OF FORM 3CD: RELEVANT CLAUSE OF SECTION 44AB UNDER WHICH TAX AUDIT IS CONDUCTED
CLAUSE 8A OF FORM 3CD: WHETHER ASSESSEE HAS OPTED FOR SECTION 115BA/115BAA/115BAB/115BAC/115BAD/ 115BAE?
CLAUSE 9 OF FORM NO. 3CD : DETAILS REGARDING FIRMS/ AOPs/LLPs
CLAUSE 10 OF FORM NO. 3CD : NATURE OF BUSINESS/PROFESSION
CLAUSE 11 OF FORM NO. 3CD : BOOKS OF ACCOUNT
CLAUSE 12 OF FORM NO. 3CD : PRESUMPTIVE INCOME
CLAUSE 13 OF FORM NO. 3CD : METHOD
CLAUSE 15 OF FORM NO 3CD: CAPITAL ASSET CONVERTED INTO STOCK IN TRADE
CLAUSE 16 OF FORM NO 3CD: AMOUNTS NOT CREDITED TO PROFIT AND LOSS ACCOUNT
CLAUSE 17 OF FORM NO 3CD: PROPERTY TRANSFERRED AT LESS THAN SDV
CLAUSE 18 OF FORM NO 3CD: DEPRECIATION ADMISSIBLE
CLAUSE 19 OF FORM NO 3CD: AMOUNTS DEDUCTIBLE UNDER SECTIONS 32AC TO 35E
CLAUSE 20 OF FORM NO 3CD: BONUS AND EMPLOYEES’ CONTRIBUTIONS TO PF ESIC
CLAUSE 21 OF FORM NO 3CD: AMOUNTS INADMISSIBLE UNDER SECTIONS 37(1), 40(a), 40(b), 40(ba), 40A(3), 40A(7), 40A(9), 14A AND 36(1)(iii) 534
CLAUSE 22 OF FORM NO. 3CD: AMOUNTS INADMISSIBLE UNDER SECTION 43B(h) OF THE ACT AND UNDER SECTION 23 OF MSMED ACT
CLAUSE 23 OF FORM NO. 3CD: PAYMENTS TO PERSONS SPECIFIED UNDER SECTION 40A(2)(b)
CLAUSE 24 OF FORM NO 3CD: DEEMED PROFITS UNDER SECTION 32AC/32AD/33AB/33ABA/33AC
CLAUSE 25 OF FORM NO. 3CD: AMOUNTS DEEMED TO BE
CLAUSE 26 OF FORM NO. 3CD : SUMS COVERED BY CLAUSES (a) TO (g) OF SECTION 43B
CLAUSE 27 OF FORM NO. 3CD : CENVAT CREDIT & PRIOR PERIOD ITEMS
CLAUSE 28 OF FORM NO. 3CD : “GIFTS” OF UNLISTED SHARES RECEIVED BY LLPs/FIRMS/COMPANIES ON OR BEFORE 31-3-2017 809
CLAUSE 29 OF FORM NO. 3CD : SHARES ISSUED BY CLOSELY-HELD CO. AT PREMIUM & ISSUE PRICE IS ABOVE FMV 810
CLAUSE 29A OF FORM NO. 3CD : AMOUNT TAXABLE UNDER SECTION 56(2)(ix) 811
CLAUSE 29B OF FORM NO. 3CD : GIFTS/DEEMED GIFTS CHARGEABLE UNDER SECTION 56(2)(x) 820
CLAUSE 30 OF FORM NO. 3CD : HUNDI TRANSACTIONS IN CASH 847
CLAUSE 30A: SECONDARY TRANSFER PRICING ADJUSTMENTS 859
30B: THIN CAPITALISATION ADJUSTMENTS
CLAUSE 30C OF FORM NO. 3CD : GAAR (GENERAL ANTI AVOIDANCE RULES) 888
CLAUSE 31 OF FORM 3CD: ACCEPTANCE OR REPAYMENT OF LOAN/DEPOSIT/SPECIFIED SUM ABOVE ` 20,000 LIMIT IN SECTION 269SS/SECTION 269T & RECEIPT/PAYMEMT ABOVE ` 2,00,000
34 OF FORM NO. 3CD : AUDIT OF COMPLIANCE WITH TDS PROVISIONS 1034
CLAUSE 35 OF FORM NO. 3CD: QUANTITATIVE DETAILS IN CASE OF TRADING CONCERNS AND MANUFACTURING CONCERNS 1060
CLAUSE 36 OF FORM NO. 3CD: DIVIDEND DISTRIBUTION TAX 1075
CLAUSE 36A OF FORM NO. 3CD : DEEMED DIVIDEND UNDER SECTION 2(22)(e) 1076
CLAUSE 37 OF FORM NO. 3CD : COST AUDIT REPORT 1092
CLAUSE 38 OF FORM NO. 3CD : CENTRAL EXCISE AUDIT REPORT
CLAUSE 39 OF FORM NO. 3CD : SERVICE TAX AUDIT FOR VALUATION OF SERVICES 1105
CLAUSE 40 OF FORM NO. 3CD : ACCOUNTING RATIOS 1106
CLAUSE 41 OF FORM NO. 3CD : DEMANDS RAISED & REFUNDS ISSUED UNDER TAX LAWS OTHER INCOME TAX ACT & WEALTH TAX ACT 1119
CLAUSE 42 OF FORM 3CD : FURNISHING OF FORM NOS. 61,
CLAUSE 43 OF FORM 3CD: FURNISHING OF COUNTRY BY COUNTRY REPORTING UNDER SECTION 286 1140
CLAUSE 44 OF FORM 3CD: BREAKUP OF TOTAL EXPENDITURE INCURRED BY ASSESSEE ACCORDING TO GST REGISTRATION STATUS OF PAYEES 1151
CLAUSE 13 OF FORM NO. 3CD : METHOD
Para 25.2
25.2.1
[Para 25.2.1.2]
[Para 25.2.1.3]
Para 25.2.2
[Para 25.2.1.1]
Para
Para 25.2.3
25.2.4
25.2.5
Para 25.3
Para 25.5
Para 25.4
Para
Para
[Para 25.5.1]
[Para 25.5.2]
Para 25.6
a [Para 25.6.1]
b [Para 25.6.2]
c [Para 25.6.3]
d [Para 25.6.4]
e [Para 25.6.5]
f [Para 25.6.6]
[Para 25.6.7]
[Para 25.6.8]
[Para 25.6.9]
[Para 25.6.10]
[Para 25.6.11]
[Para 25.6.12]
[Para 25.9.13]
[Para 25.6.14] Para 25.7]
[Para 25.7.1]
[Para 25.7.2]
[Clause 13(e)]
[Para 25.7.2.1]
) [Para 25.7.2.2]
Worksheets of adjustments required to give effect to ICDS-II [Clause 13(e)] [Para 25.7.3]
Worksheet showing adjustments to net profit/loss as per AS financials required to comply with ICDS-II (Revised) [Para 25.7.3.1]
Worksheet showing adjustments to net profit/loss as per Ind AS financials required to comply with ICDS-II (Revised) [Para 25.7.3.2]
[Clause 13(e)]
[Para 25.7.4]
Worksheet showing adjustments to net profit/loss as per AS financials required to comply with ICDS-III (Revised) [Para 25.7.4.1]
Worksheet showing adjustments to net profit/loss as per Ind AS financials required to comply with ICDS-III (Revised) [Para 25.7.4.2]
[Clause 13(e)]
[Para 25.7.5]
Worksheet showing adjustments to net profit/loss as per AS financials required to comply with ICDS-IV (Revised) [Para 25.7.5.1]
Worksheet showing adjustments to net profit/loss as per Ind AS financials required to comply with ICDS-IV (Revised) [Para 25.7.5.2]
[Para 25.7.6]
[Para 25.7.7]
[Para 25.7.8]
[Clause 13(e)]
[Para 25.7.6.1]
[Para 25.7.6.2]
[Para 25.7.7.1]
[Para 25.7.7.2]
[Para 25.7.8.1]
[Para 25.7.8.2]
[Clause 13(e)] [Para 25.7.9]
Para 25.7.9.1]
[Para 25.7.9.2]
[Para 25.7.10]
[Para 25.7.11]
[Para 25.7.10.2]
[Para 25.7.11.1]
[Para 25.7.11.2]
Para 25.8
Para 25.10
What this Clause Requires?
25.2.1
Para 25.9
Para 25.11
Para 25.12
Para 25.2.2
Para 25.2.3 Para
25.2.4 Para
Mercantile SystemCash System
i.e.,
Technical Guide on Income Computation and Disclosure Standards
vide Circular No. 717, dated 14th August 1995
25.2.1-1 Mercantile System/Accrual Basis of Accounting“
Guidance Note on Accrual Basis of Accounting”
Tools Ltd. Jt. CIT
How do we ensure that the accrual basis has been followed? -
25.2.1-2 Cash basis of accounting http://financial-dictionary. thefreedictionary.com
Cash basis accounting.
www.answers.com
Two types of cash-basis accounting exist: strict cash-basis and modified cash-basis. Strict cash-basis follows the cash flow exactly. Modified cash-basis includes some elements from accrual-basis accounting such as inventory and property capitalization.”
Commissioner of the Inland Revenue Cock, Russell & Co. Ltd.
CIT A. Krishnaswami Mudaliar
Technical Guide on Preparation of Financial Statements under Cash basis of Accounting
General Principles
Plant, Property and Equipment (AS-10)
Intangible assets (AS-26)
Revenue Recognition (AS-9)
Interest, royalties, rental on investments and dividends (AS-9)
Revenue not received on which TDS has been deducted by the payer
Government grants (AS-12)
Employee benefits (AS-15)
Borrowing Costs (AS-16)
Lease payments (AS-19)
Foreign currency transactions and Losses or gains arising due to exchange rate variation on de-recognition of monetary assets or liabilities (AS-11)
The Effects of Changes in Foreign Exchange Rates
Recognition of depreciation and impairment of assets [(AS-10) and (AS-28)]
Bad debts written off
Krishnaswami Mudaliar
Differences arising on valuation of inventories (AS-2)
Commissioner of the Inland Revenue Cock, Russell & Co. Ltd.
Recognition of income-tax paid (AS-22)reasonably certain
