CBDT Amends Tax Audit Report (Form 3CD) Effective April 1, 2025

The Central Board of Direct Taxes (CBDT) has amended Form 3CD of the Tax Audit Report, effective from April 1, 2025.

Key changes include the introduction of Clause 44BBC for comprehensive reporting on income from broadcasting, telecasting, or sports events. Deductions under Sections 32AC, 32AD, 35AC, and 35CCB have been removed.

Clause 22 now requires detailed disclosure of MSME payments, while Clause 36B mandates reporting on share buybacks. Clause 31 introduces a new coding system for transaction types.

Businesses and tax professionals must review these updates to ensure compliance with the revised audit reporting standards.