3CD FORMAT FOR A.Y 2016-17

FORM NO. 3CD
[See rule 6G (2)]
Statement of particulars required to be furnished under section 44AB of the Income Tax Act, 1961
PART – A
1.
Name of the assessee
………………………
2.
Address
……………………………………………….
3.
PAN
……………………………………………
4.
Whether the assessee is liable to pay indirect tax like excise duty, service tax, sales tax, customs duty etc. If yes, please furnish the registration number or any other identification number allotted for the same
……………………………………………
5.
Status
………………………………
6.
Previous year
From April 1, 2015to March 31, 2016
7.
Assessment year
2016-2017
8.
Indicate the relevant clause of section 44AB under which the audit has been conducted
Clause 44AB(a)- Total sales/turnover/gross receipts in business exceeding Rs. 1 crore
PART – B
9. (a)
If firm or Association of Persons, indicate names of partners/members and their profit sharing ratios.
As per Annexure No. 1
    (b)
If there is any change in the partners or members or in their profit sharing ratio since the last date of the preceding year, the particulars of such change.
Nil
10. (a)
Nature of business or profession (if more than one business or profession is carried on during the previous year, nature of every business or profession).
……………………………..
     (b)
If there is any change in the nature of business or profession, the particulars of such change.
Nil
11. (a)
Whether books of accounts are prescribed under section 44AA, if yes, list of books so prescribed.
No
     (b)
List of Books of accounts maintained and the address at which the books of accounts are kept.(In case books of account are maintained in a computer system, mention the books of account generated by such computer system.If the books of accounts are not kept at one location, please furnish the addresses of locations along with the details of books of accounts maintained at each location.)
……………………………………….
     (c)
List of books of accounts and nature of relevant documents examined
As per Annexure No. 2
12.
Whether the profit and loss account includes any profit and gains assessable on presumptive basis, if yes, indicate the amount and the relevant sections(44AD, 44AE, 44AF, 44B, 44BB, 44BBA, 44BBB,Chapter XII-G, First Schedule or any other relevant section.)
No
Page 1 of 9
13. (a)
Method of accounting employed in the previous year.
Mercantile system
      (b)
Whether there had been any change in the method of accounting employed vis-a-vis the method employed in the immediately preceding previous year.
No
      (c)
If answer to (b) above is in the affirmative, give details of such change, and the effect thereof on the profit or loss.
Nil
      (d)
Details of deviation, if any, in the method of accounting employed in the previous year from accounting standards prescribed under section 145 and the effect thereof on the profit or loss.
Nil
14. (a)
Methods of valuation of closing stock employed in the previous year.
At Cost
      (b)
In case of deviation from the method of valuation prescribed under section 145A, and the effect thereof on the profit or loss, please furnish:
Nil
15.
Give the following particulars of the capital asset converted into stock in trade :
Nil
      (a)
Description of capital asset
      (b)
Date of acquisition;
      (c)
Cost of acquisition;
      (d)
Amount at which the asset is converted into stock-in-trade.
16.
Amounts not credited to the profit and loss account, being, :-
      (a)
the items falling within the scope of section 28;
Nil
      (b)
the proforma credits, drawbacks, refunds of duty of customs or excise or service tax, or refund of sales tax or value added tax where such credits, drawbacks or refunds are admitted as due by the authorities concerned;
Nil
      (c)
escalation claims accepted during the previous year;
Nil
      (d)
any other item of income;
Nil
      (e)
capital receipt, if any.
Nil
17.
Where any land or building or both is transferred during the previous year for a consideration less than value adopted or assessed or assessable by any authority of State Government referred to in section 43CA or 50C, please furnish:
Nil
18.
Particulars of depreciation allowable as per the Income-tax Act, 1961 in respect of each asset or block of assets, as the case may be, in the following form :-
As per Annexure No. 3
Page 2 of 9
      (a)
Description of asset/block of assets.
      (b)
Rate of depreciation.
      (c)
Actual cost or written down value, as the case may be.
      (d)
Additions/deductions during the year with dates; in the case of any addition of an asset, date put to use; including adjustments on account of –
           (i)
Central Value Added Tax credit claimed and allowed under the Central Excise Rules, 1944, in respect of assets acquired on or after 1st March, 1994,
           (ii)
change in rate of exchange of currency, and
           (iii)
subsidy or grant or reimbursement, by whatever name called.
      (e)
Depreciation allowable.
      (f)
Written down value at the end of the year.
19.
Amount admissble under sections :32AC, 33AB, 33ABA, 35(1)(i), 35(1)(ii), 35(1)(iia), 35(1)(iii), 35(1)(iv), 35(2AA), 35(2AB), 35ABB, 35AC, 35AD, 35CCA, 35CCB
Nil
20. (a)
Any sum paid to an employee as bonus or commission for services rendered, where such sum was otherwise payable to him as profits or dividend. [ Section 36(1)(ii)]
Nil
      (b)
Details of contributions received from employees for various funds as referred to in section 36(1)(va);
Nil
21. (a)
Please furnish the details of amounts debited to the profit and loss account, being in the nature of capital, personal, advertisement expenditure etc
           (i)
expenditure of capital nature ;
Nil
           (ii)
expenditure of personal nature ;
Nil
           (iii)
expenditure on advertisement in any souvenir, brochure, tract, pamphlet or the like published by a political party ;
Nil
           (iv)
Expenditure incurred at clubs being entrance fees and subscriptions.
Nil
           (v)
Expenditure incurred at clubs being cost for club services and facilities used.
Nil
           (vi)
Expenditure by way of penalty or fine for violation of any law for the time being in force.
Nil
           (vii)
Expenditure by way of any other penalty or fine not covered above.
Nil
           (viii)
Expenditure incurred for any purpose which is an offence or which is prohibited by law.
Nil
Page 3 of 9
    (b)
amounts inadmissible under section 40(a) ;
        (i)
as payment to non-resident referred to in sub-clause (i)
           (A)
Detail of payment on which tax is not deducted:
Nil
           (B)
Details of payment on which tax has been deducted but has not been paid during the previous year or in the subsquent year before the expiry of time prescribed under section200(1)
Nil
        (ii)
as payment referred to in sub-clause (ia)
           (A)
Details of payment on which tax is not deducted:
Nil
           (B)
Details of payment on which tax has been deducted but has not been paid on or before the due date specified in sub- section(1) of section 139.
Nil
        (iii)
fringe benefit tax under sub-clause (ic)
Nil
        (iv)
wealth tax under sub-clause (iia)
Nil
        (v)
royalty, license fee, service fee etc. under sub-clause (iib)
Nil
        (vi)
salary payable outside India/ to a non resident without TDS etc. under sub-clause (iii)
Nil
        (vii)
payment to PF / other fund etc. under sub-clause (iv)
Nil
        (viii)
tax paid to employer for perquisites under sub-clause (v)
Nil
    (c)
Amount debited to profit and loss account being, interest, salary, bonus, commission or remuneration inadmissible under section 40(b)/40(ba) and computation thereof
Nil
    (d)
Disallowance/deemed income under section 40A(3):
(A) On the basis of the examination of books of account and other relevant documents/evidence, whether the expenditure covered under section 40A(3) read with rule 6DD were made by account payee cheque drawn on a bank or account payee bank draft. If not, please furnish the detail
Yes
(B) On the basis of the examination of books of account and other relevant documents/evidence, whether the payment referred to in section 40A(3A) read with rule 6DD were made by account payee cheque drawn on a bank or account payee bank draft. If not, please furnish the details of amount deemed to be the profits and gains of bussiness or profession under section 40A(3A).
Yes
    (e)
provision for  payment of gratuity not allowable under section 40A(7)
Nil
Page 4 of 9
    (f)
any sum paid by the assessee as an employer not allowable under section 40A(9)
Nil
    (g)
particulars of any liability of a contingent nature
Nil
    (h)
amount of deduction inadmissible in terms of section 14A in respect of the expenditure incurred in relation to income which does not form part of the total income
Nil
    (i)
amount inadmissible under the proviso to section 36(1)(iii)
Nil
22.
Amount of interest inadmissible under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006
Nil
23.
Particulars of payments made to persons specified under sections 40A(2)(b) .
As per Annexure No. 4
24.
Amounts deemed to be profits and gains under section 32AC or 33AB or 33ABA or 33AC.
Nil
25.
Any amount of profit chargeable to tax under section 41 and computation thereof.
Nil
26.  (i)
In respect of any sum referred to in clause (a), (b), (c), (d), (e) or (f) of section 43B, the liability for which :-
          (A)
pre-existed on the first day of the previous year but was not allowed in the assessment of any preceding previous year and was
Nil
               (a)
paid during the previous year ;
Nil
               (b)
not paid during the previous year ;
Nil
          (B)
was incurred in the previous year and was
               (a)
paid on or before the due date for furnishing the return of  income of the previous year under section 139(1)
As per Annexure No. 5
               (b)
not paid on or before the aforesaid date.
Nil
*
(State whether sales tax, customs duty, excise duty or any other indirect tax, levy cess, impost, etc., is passed through the profit & loss account.)
27. (a)
Amount of Central Value Added Tax credits availed of or utilised during the previous year and its treatment in the profit and loss account and treatment of outstanding Central Value Added Tax credits in the accounts.
Nil
      (b)
Particulars of income or expenditure of prior period credited or debited to the profit and loss account.
Nil
Page 5 of 9
28.
Whether during the previous year the assessee has received any property, being share of a company not being a company in which the public are substantially interested, without consideration or for inadequate consideration as referred to in section 56(2)(viia), if yes, please furnish the details of the same.
No
29.
Whether during the previous year the assessee has received any consideration for issue of share which exceeds the fair market value of the shares as referred to in section 56(2)(viib), if yes, please furnish the details of the same
NA
30.
Details of any amount borrowed on hundi or any amount due thereon (including interest on the amount borrowed) repaid, otherwise than through an account payee cheque. [Section 69D]
Nil
31. (a)*
Particulars of each loan or deposit in an amount exceeding the limit specified in section 269SS taken or accepted during the previous year :-
As per Annexure No. 6
           (i)
name, address and permanent account number (if available with the assessee) of the lender or depositor;
           (ii)
amount of loan or deposit taken or accepted;
           (iii)
whether the loan or deposit was squared up during the previous year;
           (iv)
maximum amount outstanding in the account at any time during the previous year;
           (v)
whether the loan or deposit was taken or accepted otherwise than by an account payee cheque or an account payee bank draft.
*
(These particulars need not be given in the case of a Government Company, a banking company or a corporation established by a Central, State or Provincial Act.)
    (b)
Particulars of each repayment of loan or deposit in an amount exceeding the limit specified in section 269T made during the previous year :-
As per Annexure No. 7
           (i)
name, address and permanent account number (if available with the assessee) of the payee;
           (ii)
amount of the repayment;
           (iii)
maximum amount outstanding in the account at any time during the previous year;
           (iv)
whether the repayment was made otherwise than by an account payee cheque or an account payee bank draft;
Page 6 of 9
      (c)
Whether the taking or accepting loan or deposit, or repayment of the same were made by an account payee cheque drawn on a bank or account payee bank draft based on the examination of books of account and other relevant documents.(The particulars (i) to (iv) at (b) and the comment at (c) above need not be given in the case of a repayment of any loan or deposit taken or accepted from Government, Government company, banking company or a corporation established by a Central, State or Provincial Act.)
Yes
32. (a)
Details of brought forward loss or depreciation allowance, in the following manner, to the extent available :-
Nil
      (b)
Whether a change in shareholding of the company has taken place in the previous year due to which the losses incurred prior to the previous year cannot be allowed to be carried forward in terms of section 79.
NA
      (c)
Whether the assessee has incurred any speculation loss referred to in section 73 during the previous year, if yes, please furnish the details of the same.
No
      (d)
Whether the assessee has incurred any loss referred to in section 73A in respect of any specified business during the previous year, if yes, please furnish details of the same.
No
      (e)
In case of the company, please state that whether the company is deemed to be carrying on a speculation business as reffered in explanation to section 73, if yes, please furnish the details of speculation loss if incurred during the previous year.
NA
33.
Section-wise details of deductions, if any, admissible under Chapter VIA or Chapter III(section 10A, section 10AA)
Nil
34. (a)
Whether the assessee is required to deduct or collect tax as per the provisions of  Chapter XVII-B or Chapter XVII-BB, if yes please furnish :-
Nil
      (b)
Whether the assessee has furnished the statement of tax deducted or tax collected within the prescribed time. If not, please furnish the details :
N.A.
      (c)
Whether the assessee is liable to pay interest under section 201(1A) or section 206C(7), If yes please furnish:
N.A.
35. (a)
In the case of a trading concern, give quantitative details of principal items of goods traded :-
Nil
           (i)
opening stock;
           (ii)
purchases during the previous year;
           (iii)
sales during the previous year;
           (iv)
closing stock;
Page 7 of 9
           (v)
shortage/ excess, if any.
    (b)
In the case of a manufacturing concern, give quantitative details of the principal items of raw materials, finished products and by-products :
        (A)
Raw Materials :
Nil
           (i)
opening stock;
           (ii)
purchases during the previous year;
           (iii)
consumption during the previous year;
           (iv)
sales during the previous year;
           (v)
closing stock;
           (vi) **
yield of finished products;
           (vii)**
percentage of yield;
           (viii)
shortage/ excess if any.
         (B)
Finished products/ By-products :
Nil
          (i)
opening stock:
          (ii)
purchases during the previous year;
          (iii)
quantity manufactured during the previous year;
          (iv)
sales during the previous year;
          (v)
closing stock;
          (vi)
shortage/ excess, if any.
36.
In the case of a domestic company, details of tax on distributed profits under section 115-O in the following form :-
Nil
      (a)
total amount of distributed profits;
      (b)
amount of reduction as referred to in section 115-O(1A)(i);
      (c)
amount of reduction as referred to in section 115-O(1A)(ii);
      (d)
total tax paid thereon;
      (e)
dates of payment with amounts.
37.
Whether any cost audit was carried out, if yes, give the details, if any, of disqualification or disagreement on any matter/item/value/quantity as may be reported/identified by the cost auditor.
No
38.
Whether any audit was conducted under the Central Excise Act, 1944, if yes, give the details, if any, of disqualification or disagreement on any matter/item/value/quantity as may be reported/identified by the auditor.
No
Page 8 of 9
39.
Whether any audit was conducted under section 72A of the finance act, 1994 in relation to valuation of taxable services, if yes, give the details, if any, of disqualification or disagreement on any matter/item/value/quantity as may be reported/identified by the auditor.
No
40.
Accounting ratios with calculations as follows :-
      (1)
Total turnover of the assessee.
……………………………….
      (2)
Gross Profit/ Turnover;
N.A.
      (3)
Net Profit/ Turnover;
………………………
      (4)
Stock-in-Trade/ Turnover;
N.A.
      (5)
Material Consumed/ Finished Goods Produced
N.A.
41.
Please furnish the details of demand raised or refund issued during the previous year under any tax laws other than Income-tax Act, 1961 and Wealth tax Act, 1957 alongwith details of relevant proceedings.
Nil
…………………………………
Place:
Chartered Accountants
Date:
Partner
Firm Reg.No –
Page 9 of 9

CLICK HERE TO DOWNLOAD 3CD

3CB FORMAT FOR A.Y 2016-17

FORM NO. 3CB

[See Rule 6G(1)(b)]

Audit report under section 44AB of the Income Tax Act, 1961, in the case of a person referred to in clause (b) of sub-rule (1) of rule 6G

1.
We have examined the balance sheet as at 31-03-2016 and the profit and loss account for the period begining from 01-04-2015 to ending on 31-03-2016, attached herewith, of  ………………,      of  …………………………….., P.A. No. -………………….
2.
We certify that the balance sheet and the profit and loss account are in agreement with the books of accounts maintained at head office at …………… and 0 branch.
3.
(a)
We report the following observations/comments/discrepancies/inconsistencies; if any:

Sundry Creditors and Debtors are subject to confirmationby respective parties.

(b)
Subject to above,-
(A)
We have obtained all the information and explanations which, to the best of our knowledge and belief, were necessary for the purposes of the audit.
(B)
In our opinion, proper books of accounts have been kept at the head office and branches of the assessee, so far as appears from our examination of the books.
(C)
In our opinion and to the best of our information and according to the explanations given to us, the said accounts, read with notes thereon, if any, give a true and fair view :-
(i)
in the case of the balance sheet, of the state of affairs of the assessee as at 31-03-2014, and
(ii)
in the case of the profit and loss account,Profit of the assessee for the year ended on that date.
4.
The statement of particulars required to be furnished under section 44AB is annexed herewith in Form No. 3CD.
5.
In our opinion and to the best of our information and according to explanations given to us, the particulars given in the said Form No. 3CD are true and correct. Subject to the following observations/qualifications, if any :
(a)
The assessee is responsible for the preparation of the aforesaid financial statements that give a true and fair view of the financial position and financial performance (if applicable) in accordance with the applicable Accounting Standards issued by the Institute of Chartered Accountants of India. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
(b)
The assessee is also responsible for the preparation of the statement of particulars required to be furnished under section 44AB of the Income-tax Act, 1961 annexed herewith in Form No. 3CD read with Rule 6G(1)(b) of Income Tax Rules, 1962 that give true and correct particulars as per the provisions of the Income-tax Act, 1961 read with Rules, Notifications , circulars etc that are to be included in the Statement.
(c)
Our responsibility is to express an opinion on these financial statements based on my/our audit. We have conducted this audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
(d)
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purposes of expressing an opinion on the effectiveness of the entity s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
Page 1 of 2
(e)
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
(f)
We are also responsible for verifying the statement of particulars required to be furnished under section 44AB of the Income-tax Act, 1961 annexed herewith in Form No. 3CD read with Rule 6G (1) (b) of Income-tax Rules, 1962. We have conducted our verification of the statement in accordance with Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961, issued by the Institute of Chartered Accountants of India.
Place :

Date  :

For …………………………………………………….

Chartered Accountants

Partner

M.No –

CLICK HERE TO DOWNLOAD 3CB