Major Changes in Form 3CD w.e.f. 01-04-2025

Following are the key changes in Form 3CD, effective April 1, 2025:

1. New Clause for Section 44BBC – Added in Clause (12).

2. Omitted Deductions – Removed references to Sections 32AC, 32AD, 35AC, and 35CCB from Clause (19).

3. Modification in Clause (21) – Now includes expenses for legal settlements related to government-notified contraventions.

4. Revised Clause (22) – Covers:

   • Interest inadmissible under Section 23 of the MSMED Act, 2006.

   • Outstanding dues to MSMEs under Section 15 of the MSMED Act.

5. Changes in Clause (26) – Updates in tax allowance references and wording.

6. Omission of Clauses (28) & (29).

7. Clause (31) Overhaul –

   • New transaction codes for cash payments, non-account payee cheques, journal entries, etc.

   • Mandatory disclosure of loan or deposit transaction nature.

8. New Clause (36B) – Requires details on share buyback transactions.