Income-tax (8th Amendment) Rules, 2018 - 33/2018 - Income Tax

Form 3CD amendments expand audit disclosures for GST, transfer pricing primary adjustments, interest limitation and cash transaction reporting.

Amendments to Form No. 3CD expand disclosure obligations to capture GST identifiers, additional schedule entries, primary transfer pricing adjustments including repatriation and imputed interest, interest limitation details with carry forward information, impermissible avoidance arrangement particulars and aggregate tax benefit, and detailed payer/payee particulars for receipts or payments exceeding statutory cash limits. The form also updates repayment wording, extends tax deduction statement reporting requirements, adds entries for certain dividend receipts and electronic reporting obligations, country by country reporting details, and a GST expenditure breakup.