Income Tax – Particulars under section 44AB – Form 3CD Amended

By Vijay Kumar

EVERY business person having a total turnover of more than forty lakhs rupees or a professional having more than ten lakhs rupees receipts is required to get the accounts audited and submit a statement to the Department in Form 3CD.

This Form 3CD is now amended to include a new item, "17A. Amount of interest inadmissible under section 23 of the Micro, Small and Medium Enterprises Development Act, 2006."

CBDT Notification NO. 36/2009, Dated: April 13, 2009