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SECTION 44AB: AUDIT OF ACCOUNTS OF CERTAIN PERSONS CARRYING ON BUSINESS OR PROFESSION 1
PERSONS CARRYING ON BUSINESS WHO ARE OBLIGED TO COMPLY WITH PROVISIONS OF SECTION 44AB AS REGARDS COMPULSORY AUDIT OF ACCOUNTS 19
TURNOVER-LINKED COMPULSORY AUDIT OBLIGATIONS U/S 44AB(a) ON CERTAIN PERSONS CARRYING ON BUSINESS 22
COMPULSORY AUDIT OBLIGATIONS U/S 44AB( c)/( e ) ON CERTAIN PERSONS CARRYING ON BUSINESS REGARDLESS OF T H E I R T U R NOV ER /G R O SS RE C E I PTS / S AL ES ( N ONTURNOVER-LINKED AUDIT OBLIGATIONS) 32
PERSONS CARRYING ON BUSINESS WHO ARE EXEMPT FROM TAX AUDIT (COMPULSORY AUDIT OBLIGATIONS U/S 44AB) 33 WHEN PERSON CARRYING ON PROFESSION IS REQUIRED TO GET HIS ACCOUNTS AUDITED U/S 44AB(b) & U/S 44AB(d)
OR GROSS RECEIPTS
CLAUSE 1 OF FORM 3CD: NAME OF THE ASSESSEE
2 OF FORM 3CD: ADDRESS
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 OF ACCOUNTING AND ICDS
CLAU SE 14 OF FO R M NO . 3 CD : M ET HOD OF STOCK VALUATION
CLAUSE 15 OF FORM NO. 3CD: CAPITAL ASSET CONVERTED INTO STOCK IN TRADE 338
CLAUSE 16 OF FORM NO. 3CD: AMOUNTS NOT CREDITED TO PROFIT AND LOSS ACCOUNT 354
CLAUSE 17 OF FORM NO. 3CD: PROPERTY TRANSFERRED AT LESS THAN SDV 394
CLAUSE 18 OF FORM NO. 3CD: DEPRECIATION ADMISSIBLE 428
CLAUSE 19 OF FORM NO. 3CD: AMOUNTS DEDUCTIBLE UNDER SECTIONS 32AC TO 35E 479
CLAUSE 20 OF FORM NO. 3CD: BONUS AND EMPLOYEES’ CONTRIBUTIONS TO PF/ESIC 520
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) 538
CLAUSE 22 OF FORM NO. 3CD: AMOUNTS INADMISSIBLE UNDER SECTION 43B(h) OF THE ACT AND UNDER SECTION 23 OF MSMED ACT 699
CLAUSE 23 OF FORM NO. 3CD: PAYMENTS TO PERSONS SPECIFIED UNDER SECTION 40A(2)(b) 753
CLAUSE 24 OF FORM NO. 3CD: DEEMED PROFITS UNDER SECTION 32AC/32AD/33AB/33ABA/33AC 766
CLAUSE 25 OF FORM NO. 3CD: AMOUNTS DEEMED TO BE PROFITS AND GAINS UNDER SECTION 41 779
CLAUSE 26 OF FORM NO. 3CD : SUMS COVERED BY OF SECTION 43B 798
CLAUSE 27 OF FORM NO. 3CD : CENVAT CREDIT & PRIOR PERIOD ITEMS 821
CLAUSE 28 OF FORM NO. 3CD : “GIFTS” OF UNLISTED SHARES RECEIVED BY LLPs/FIRMS/COMPANIES ON OR BEFORE 31-3-2017 833
CLAUSE 29 OF FORM NO. 3CD : SHARES ISSUED BY CLOSELY-HELD CO AT PREMIUM & ISSUE PRICE IS ABOVE FMV 834
CLAUSE 29A OF FORM NO. 3CD : AMOUNT TAXABLE UNDER SECTION 56(2)(ix) 835
CLAUSE 29B OF FORM NO. 3CD : GIFTS/DEEMED GIFTS
CHARGEABLE UNDER SECTION 56(2)(x) 844
CLAUSE 30 OF FORM NO. 3CD : HUNDI TRANSACTIONS IN CASH 871
CLAUSE 30A: SECONDARY TRANSFER PRICING ADJUSTMENTS 883
CLAUSE 30B: THIN CAPITALISATION ADJUSTMENTS 896
CLAUSE 30C OF FORM NO. 3CD : GAAR (GENERAL ANTI AVOIDANCE RULES) 912
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 LIMIT IN SECTION 269ST 929
CLAUSE 32 OF FORM NO. 3CD : UNABSORBED LOSS/DEPRECIATION 1025
CLAUSE 33 OF FORM NO. 3CD : CHAPTER VI-A DEDUCTIONS 1060
CLAUSE 34 OF FORM NO. 3CD : AUDIT OF COMPLIANCE WITH TDS PROVISIONS 1070
CLAUSE 35 OF FORM NO. 3CD: QUANTITATIVE DETAILS IN CASE OF TRADING CONCERNS AND MANUFACTURING CONCERNS 1096
CLAUSE 36 OF FORM NO. 3CD: DIVIDEND DISTRIBUTION TAX 1111
CLAUSE 36A OF FORM NO. 3CD : DEEMED DIVIDEND UNDER SECTION 2(22)(e) 1112
CLAUSE 36B OF FORM NO. 3CD: DEEMED DIVIDEND UNDER SECTION 2(22)(f): AMOUNT RECEIVED FOR BUYBACK OF SHARES 1128
CLAUSE 37 OF FORM NO. 3CD : COST AUDIT REPORT 1136
CLAUSE 38 OF FORM NO. 3CD : CENTRAL EXCISE AUDIT REPORT 1143
CLAUSE 39 OF FORM NO. 3CD : SERVICE TAX AUDIT FOR VALUATION OF SERVICES 1149
CLAUSE 40 OF FORM NO. 3CD : ACCOUNTING RATIOS 1150
CLAUSE 41 OF FORM NO. 3CD : DEMANDS RAISED & REFUNDS ISSUED UNDER TAX LAWS OTHER INCOME TAX ACT & WEALTH TAX ACT 1163
CLAUSE 42 OF FORM 3CD : FURNISHING OF FORM NOS. 61, 61A AND 61B 1172
CLAUSE 43 OF FORM 3CD: FURNISHING OF COUNTRY BY COUNTRY REPORTING UNDER SECTION 286 1184
CLAUSE 44 OF FORM 3CD: BREAKUP OF TOTAL EXPENDIT U RE INCU RRE D B Y A SSESSEE ACCO R DING T O G ST REGISTRATION STATUS OF PAYEES 1195
CLAUSE 36B OF FORM NO. 3CD:
DIVIDEND UNDER SECTION 2(22)(f): AMOUNT RECEIVED FOR BUYBACK OF SHARES
36B. (a) Whether the assessee has received any amount for buyback of shares as referred to in sub-clause (f) of clause (22) of section 2? (Yes/No)
(b) If yes, please furnish the following details:
(i) Amount received (in Rs.):
(ii) Cost of acquisition of shares bought back See Para 54A.11 below
[Para 54A.6]
[Para 54A.8]
[Para 54A.7]
[Para 54A.9]
[Para 54A.10] [Para 54A.11] [Para 54A.12]
[Para 54A.13]
[Para 54A.14] [Para 54A.15]
f on purchase of its own shares from a shareholder in accordance with the provisions of section 68 of the Companies Act, 2013
Details/MRL to be obtained from the auditee
Linkages of this clause with Form 3CA or Form 3CB or with other clauses of Form 3CD 54A.8 prima facie
Linkages with statutory audit report/audited accounts/annual report in the case of a company-assessee 54A.9 Tax Audit checklist for Clause 36B of Form No.3CD
Para 54A.10
S. No.
Particulars
Yes/ No/N/A
Comment
Precautions for reporting
Where tax auditor reports in sub-clause (a) by selecting “yes” and reports amount received and COA in sub-clause (b)
Where tax auditor reports in sub-clause (a) by selecting “no”
Auditing issues/issues of interpretation of tax laws/FAQs 54A.15
(1) Whether it is necessary to report any amount received for buy back of shares by domestic company which takes place before 01.10.2024 but consideration is received on or after 01.10.2024?
(2) Whether reporting is required in Clause 36B if TDS has been deducted by the investee company under section 194 from the payment for buy back of shares and such TDS deduction is reflected in Form No. 26AS/AIS/TIS of the assessee?
(3) Is the tax auditor required to report the amount taxable under Section 2(22)(f)?
(4) Is the tax auditor required to report in Clause 36B the amount received on buy back of shares if the buy back is part of a compromise or arrangement sanctioned by NCLT under Section 230 of the Companies Act, 2013?
(5) If amount is received by the assessee under a buy back for which reduction of capital sanctioned by NCLT under section 66 of CA 2013, is the amount to be reported in Clause 36B?
(6) Is the tax auditor required to verify that the buy back is in accordance with section 68 of the Companies Act, 2013?