Income Tax Audit Report : New changes notified in Form 3CD

Income Tax Audit Report

Income Tax Audit Report Form 3CD XML schema for AY 2020-21 updated just few days before the due date. The due date for Income Tax audit for Previous year 2019-20 is extended to 31st October, 2020 due to COVID-19. However, the Income Tax Department notifies Schema Version 1.21 for Form 3CD.

Form No. 3CA, Form No. 3CB and Form No. 3CD are the Income tax forms required to be submitted in case of Income Tax Audit. Form 3CD is a statement of particulars required to be furnished in accordance with Rule 6G and Section 44AB. The clauses in Form 3CD (divided in Part A and Part B) contains disclosures related to loans, deductions, TDS paid etc.

Read Also: FAQs on Income Tax Audit Report – section 44AB of Income Tax Act, 1961

Changes in Income Tax Audit Report Form 3CD

1. New Clauses added

(i) in Part A, after serial number 8 and the entries relating thereto, the following shall be inserted, namely: –

“8a. Whether the assessee has opted for taxation under section 115BA/115BAA/115BAB?”;

(ii) in Part B, –

(I) in serial number 18, after clause (c), the following clauses shall be inserted, namely: –

“(ca) Adjustment made to the written down value under section 115BAA (for assessment year 2020-21 only) ………….

(cb) Adjusted written down value……………………………….. ”;

(II) in serial number 32, for clause (a), the following clause shall be substituted, namely: –

“(a) Details of brought forward loss or depreciation allowance, in the following manner, to the extent available:

Sl NoAssessment YearNature of loss/ allowance (in rupees)Amount as returned*(in rupees)All losses/ allowances not allowed under section 115BAAAmount as adjusted by withdrawal of additional depreciation on account of opting for taxation under section 115BAA^Amounts as assessed (give reference to relevant order)Remarks

*If the assessed depreciation is less and no appeal pending than take assessed.

^ To be filled in for assessment year 2020-21 only.”;

2. Clauses Modified

Form 3CD clauses modified for the exercising of the option of the newly added provisions of 115BA, 115BAA, 115BAB, 115BAC and 115BAD.

The overall picture of New changes in Tax Audit Report schema is as follows-

S.NoXML Root ElementXML element nameChangeChange Description
1PartAclauseModifiedNew Section Code Added
2PartAassignFlagAddedClause 8a Added
3PartATypeAddedNew Section Code Added
4form3CdDeprAllwadjustmentAddedClause 18(ca) Added
5form3CdDeprAllwAdjustmentwrittendownAddedClause 18(cb) Added
sectionModifiedNew Section Code Added
7Form3cdAmtSec269ss DetailloanDepChqDrftFlagModifiedNew Dropdown Values
8form3cdSec269SSDtlsOsAccPyModifiedNew Dropdown Values
repaymentChqDraftFlagModifiedNew Dropdown Values
10form3CdBflDaallnotSection115baaAddedNew Field Added in
Clause 32(a)
11form3CdBflDaamtAdjustedAddedNew Field Added in
Clause 32(a)
FirmAopDescModifiedNew Business Codes


The author of above article is Riya Thawani.

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