Reporting Under FORM 3CD – A READY RECKONER EDITION 2025(Paperback, CA. KAMAL GARG)
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Include Clause 44BBC: Check if entities—especially non‑residents involved in broadcasting or cruise operations—fall under Section 44BBC and report accordingly. Skip obsolete deductions: Clauses referencing defunct sections (32AC, 32AD, 35AC, 35CCB) are no longer relevant. Disclose settlement expenses: Any legal/settlement-related outflow due to regulatory contravention must be captured in Clause 21. MSME Payment Disclosure: Use Clause 22 to reflect timely vs delayed payments, amounts payable, and interest disallowed. Section 43B clarity: Review your deductions to ensure alignment with modified Clause 26 wording. Loan & deposit granularity: Be prepared to code each transaction using the dropdown list based on its nature. Include share buy‑back details: Report relevant buyback amounts and acquisition cost in new Clause 36B. e‑filling readiness: Update internal systems or audit checklists to align with new schema changes (over 70 updates across 3CA/3CD forms) Time management: Be vigilant about the upcoming September and October deadlines for audit and ITR filings respectively.