The Central Board of Direct Taxes (CBDT) has amended Form No. 3CA, Form No. 3CB and Form No. 3CD of the Income-tax Rules, 1962 (the Rules). The amended rules would come into force on the date of their publication in the Official Gazette.
The amended Form No. 3CA and 3CB now requires explicit mention of the observations/qualifications, if any, by the auditors while issuing the true and correct audit report. There are a number of amendments to the Form No. 3CD and this issue of First Notes highlights some of the important amendments.