Top five changes in income tax audit form 3CD for AY 2025-26; Check details

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The CBDT has announced changes to Form 3CD, applicable for FY 2024-25, impacting tax audit reporting. Key changes include revised reporting for MSME payments, new requirements for share buybacks, and disallowed expenses for legal settlements. Coded reporting for loans and inclusion of presumptive income for cruise ships are also introduced, aiming for greater compliance.