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Form 3CD

Whether Revision of Income Tax Audit Report possible? Know this Rule

Kavi Priya

A tax audit ensures that a taxpayer’s accounts are correct and that income, expenses, and deductions comply with the Income-tax Act, 1961. It is...

Items Reportable in Tax Audit Report & Key Clauses of Form 3CD [Checklist Here]

Income Tax Deduction claim of Employees Contribution to PF or ESI is allowable only if deposited on...

Rejection of Books u/s 145 Does Not Retrospectively Waive Mandatory Obligation to Furnish Audit...

Documentary Evidence Clears Loan Trail: ITAT Quashes ₹1.63 Crore Addition u/s. 68, Appeal Allowed...

Relief to Axis Finance Ltd: ITAT Allows Club Membership Fees for Employees incurred as Business Expense [Read Order]

In a ruling of the Mumbai bench of the Income Tax Appellate Tribunal (ITAT), which partly allowed the claim of Axis Finance Ltd, it was held that club membership fees for employees incurred by the...

MSME Payment Reporting Overhaul for ITR Filing: Must-Know Updates in Form 3CD Audit Report

The Income Tax Department has implemented many changes to Clause 22 of Form 3CD for the current tax audit season. Businesses must now disclose both on-time and delayed payments to Micro, Small, and...

Income Tax Compliance Calendar for August 2025

The month of August 2025 carries several important income tax compliance deadlines for taxpayers, government offices, and other entities. Staying on top of these due dates is essential to avoid...

CPC Adjustments on Exempt Income and Disallowances Invalid: ITAT Deletes ₹5.95 Cr Additions, Citing Technical Glitches and Lack of Judicial Application [Read Order]

The Mumbai Bench of the Income Tax Appellate Tribunal (ITAT) ruled that adjustments made by the Central Processing Centre (CPC) under Section 143(1) of the Income Tax Act, 1961, were invalid due to ...

ITAT Weekly Round-Up [April 1st-26th]

This weekly round-up analytically summarises the key stories related to the Income Tax Appellate Tribunal (ITAT) reported at Taxscan during this month from April 1st to April 6th 2025 CIT(A)...

ITAT grants Relief on Employer PF/ESI Contributions, Restricts disallowance to Employee Contributions based on Timely Payment u/s 43B of Income Tax Act [Read Order]

The Bangalore Bench of Income Tax Appellate Tribunal ( ITAT ) granted relief to assessee, by restricting the disallowance of Provident Fund ( PF ) and Employees State Insurance ( ESI ) contributions,...

CBDT Issues Corrigendum for Inclusion of Sec. 43B(h) IT Act Disallowance under Clause 22 of Form 3CD [Read Notification]

The Central Board of Direct Taxes ( CBDT ) has issued a corrigendum to include Section 43B(h) disallowance under Clause 22 of Form 3CD. Previously, Notification No. 27/2024 mandated including...