Question

Which form is used to give statement of particulars required to be furnished under Section 44AB of Income Tax Act 1961 ?
1. Form 3CB
2. Form 3CE
3. Form 3CD
4. Form 3CA

Answer 1

Correct Answer - Option 3 : Form 3CD

Form 3CD is used to give a statement of particulars required to be furnished under Section 44AB of Income Tax Act 1961.

• Form 3CD is the statement of particulars that will be needed to be submitted to the income tax authorities along with the audited financial Form 3CD is prepared by a Chartered Accountant on behalf of the assessees who get their accounts audited.
• The objective of the form is to specify the particulars of the audit report under any of the forms specified under Section 44AB.

1.  Form 3CB is an audit report that is furnished by a professional CA on the behalf of the tax assessee who is working as a self-employed professional or carrying out a business.
2. Form 3CE – Audit report in respect of non-residents and foreign companies. Non-residents and foreign companies receiving royalty or fees for technical services from the government or an Indian concern have to get their accounts audited.
3. Form  3CA – Audit Report under Section 44AB in a case where the accounts of the business or profession of a person have been audited under any other law.