https://www.taxtmi.com/highlights?id=87024 The CBDT has issued the Income-tax (Eighth Amendment) Rules, 2025, effective April 1, 2025, significantly modifying Form 3CD used for tax audit reports under Section 44AB. Key amendments include: insertion of Section 44BBC references; removal of obsolete deduction rows; addition of reporting requirements for settlement expenditures related to contraventions; comprehensive restructuring of MSME payment reporting requirements; modifications to Section 43B reporting; elimination of clauses 28 and 29; introduction of coded classifications for loan/deposit transactions with a detailed 12-category coding system; and new disclosure requirements for share buyback transactions, including amounts received and acquisition costs of shares bought back. en-us Mon, 31 Mar 2025 15:51:06 +0530 Mon, 31 Mar 2025 15:51:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=87024 The CBDT has issued the Income-tax (Eighth Amendment) Rules, 2025, effective April 1, 2025, significantly modifying Form 3CD used for tax audit reports under Section 44AB. Key amendments include: insertion of Section 44BBC references; removal of obsolete deduction rows; addition of reporting requirements for settlement expenditures related to contraventions; comprehensive restructuring of MSME payment reporting requirements; modifications to Section 43B reporting; elimination of clauses 28 and 29; introduction of coded classifications for loan/deposit transactions with a detailed 12-category coding system; and new disclosure requirements for share buyback transactions, including amounts received and acquisition costs of shares bought back. Highlights Income Tax Mon, 31 Mar 2025 15:51:06 +0530 https://www.taxtmi.com/highlights?id=87024