Form 3CD - CBDT makes various amendments in Form 3CD for reporting some additional transactions and reference to various sections updated - Income-tax (Fourth Amendment) Rules, 2024

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....ncome-tax (Fourth Amendment) Rules, 2024.      (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, in Appendix II,-- a) in Form No. 3CD,-- (i) in PART A, in clause 8a, for the figures and letters "115BAD", the figures and letters "115BAD/115BAE" shall be substituted; (ii) in PART B,-- A. in clause 12, for the figures and letters "44AD", the figures and letters "44AD, 44ADA" shall be substituted; B. in clause 18, for sub-clause (ca), the following sub-clauses shall be substituted, namely:-- "(ca) Adjustment made to the written down value-- (i) under the proviso to sub-section (3) of s....

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.... to a person, whether or not carrying on a business or exercising a profession, and acceptance of such benefit or perquisite by such person is in violation of any law or rule or regulation or guideline, as the case may be, for the time being in force, governing the conduct of such person" shall be substituted; (II) in sub-clause (b), in paragraph (ii), in sub-paragraph (B), in item (IV), for the word "payer", the word "payee" shall be substituted; ^1[E. in clause 22, after the figures "2006", the words and figures " or any other amount not allowable under clause (h) of section 43B of the Income-tax Act, 1961" shall be inserted;] F. in clause 32, in sub-clause (a),-- (I) in the table, in column (5), for th....

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....s computed by the assessee having regard to the arm's length price. (d) Method used for determining the arm's length price [See sub-section (1) of section 92C]. Yes/No."; c) In Form No. 65,-- (i) under the heading "Verification", after clause (4), the following clause shall be inserted, namely:-- " (5) *I certify that the applicant company is a unit of an International Financial Services Centre and has filed the application within three months from the date on which the deduction under section 80LA of the Income- tax Act, 1961 is no longer applicable."; (ii) in the Annexure, in PART A, for clause 6, the following clauses shall be substituted, namely:-- " 6. Date on which the c....