The Form 3CD – Ready Reckoner (3rd Edition, September 2025) by CA Kamal Garg is an updated and comprehensive guide for tax audit reporting under section 44AB of the Income Tax Act, 1961. This edition is aligned with the Finance Act, 2025 and the ICAI Guidance Note on Tax Audit, incorporating recent amendments and judicial precedents.
About Reporting under FORM 3CD – A READY RECKONER
Chapter 1 Tax Audit – An Introduction
Chapter 2 Form 3CA and Form 3CB – An Analysis
Chapter 3 Form 3CD — Ready Reckoner
Chapter 4 Draft Disclosure Requirements for Clause 13(f) of Form 3CD
Chapter 5 Tax Audit Engagement Letter
Chapter 6 Income Computation & Disclosure Standards
A. Income Computation and Disclosure Standard I relating to accounting policies
B. Income Computation and Disclosure Standard II relating to valuation of inventories
C. Income Computation and Disclosure Standard III relating to construction contracts
D. Income Computation and Disclosure Standard IV relating to revenue recognition
E. Income Computation and Disclosure Standard V relating to tangible fixed assets
F. Income Computation and Disclosure Standard VI relating to the effects of changes in foreign exchange rates
G. Income Computation and Disclosure Standard VII relating to government grants
H. Income Computation and Disclosure Standard VIII relating to securities
I. Income Computation and Disclosure Standard IX relating to borrowing costs
J. Income Computation and Disclosure Standard X relating to provisions, contingent liabilities and contingent assets
Circular No. 10/2017, dated 23-3-2017: Clarifications on Income Computation and Disclosure Standards (ICDS) notified under section 145(2) of the Income-tax Act, 1961
Chapter 7 Income Computation and Disclosure Standards vis-à-vis Judicial Precedents
Chapter 8 ICDS (Revised) v AS
Chapter 9 ICDS (Revised) v Ind AS
Annexure 1 Audit report under section 44AB of the Income-tax Act, 1961, in a case where the accounts of the business or profession of a person have been audited under any other law
Annexure 2 Audit report under section 44AB of the Income-tax Act, 1961, in the case of a person referred to in clause (b) of sub-rule (1) of rule 6G
Annexure 3 Statement of particulars required to be furnished under section 44AB of the Income-tax Act, 1961
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