The Income Tax Department notifies ‘Form 3CD Schema Changes’ under e-Filing Project released New Tax Audit utility, Schema Version 1.21.
The department released the document which tracked various the changes done in Form 3CD Schema post first release.
The Form 3CD consists of the statement of particulars required to get furnished under section 44AB of the Income-tax Act, 1961. The purpose of this document is to track the changes done in Form 3CD Schema post first release.
According to the new Schema the new provisions of 115BA, 115BAA, 115BAB, 115BAC and 115BAD got added up in the modified Form No. 3CD and 3CEB. And in Form 3CD clauses have been added to provide information regarding the exercising of the option by the assessee and to provide further adjustments in WDV if the same is to be exercised.
The Schema changes as on 22nd October, 2020 on Part A wherein new section code was added namely Clause 8a; Clause 18(ca); Clause 18(cb).