Form No. 3 – Frequently Asked Questions (FAQs)

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....orm No. 3 – Frequently Asked Questions (FAQs)<BR>Income Tax<BR>Dated:- 24-3-2026<BR><BR>Form No. 3 - Frequently Asked Questions (FAQs) Form no. 3 - Frequently Asked Questions (FAQs) Certificate of an Accountant under rule 7 (Zero Coupon Bonds) 1. What is Form no. 3? Form no. 3 is a certificate prescribed under rule 7 to certify utilisation of funds raised through notified Zero Coupon....

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.... Bonds. 2. Who is required to file Form no. 3? Every issuer of a notified Zero Coupon Bond, namely: • Infrastructure capital company • Infrastructure capital fund • Infrastructure debt fund • Public sector company 3. Is filing of Form no. 3 mandatory? Yes. It is mandatory for each relevant tax year. 4. Who must certify Form no. 3? ....

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.... An accountant as defined under section 515(3)(b) of the Act. 5. When should Form no. 3 be filed? Within two months from the end of the relevant tax year. 6. How many times is Form no. 3 required to be filed? It is year-specific and must be filed for each applicable tax year. 7. What information is reported in Form no. 3? Issuer details, bond notification details, investments m....

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....ade, and year-wise utilisation. 8. Are there special requirements for Infrastructure Debt Funds? Yes. Certification of maintenance of a sinking fund invested in Government securities. 9. Can Form no. 3 be filed offline? No. It must be filed electronically. 10. Can Form no. 3 be revised after filing? Revision is generally not permitted unless enabled by the system. 11. What doc....

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....uments should be maintained? Bank statements, investment records, project progress reports, and sinking fund records. 12. What are the consequences of non-filing or incorrect filing? Withdrawal of notification, loss of tax benefits, and possible statutory action. 13. Why is Form no. 3 important? It ensures annual monitoring, compliance, and transparency in utilisation of ZCB proceed....

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