What is Form 3CEAA?
The Form 3CEAA Report to be furnished under sub-section (4) of section 92D of the Income Tax Act, 1961 read with rule 10DA of Income Tax Rules, 1962.
Parts of the Form
There are two parts of the form
Part A: For every entity having international transactions during the year.
A) Consolidated group revenue is more than Rs. 5,000 Million.
Part B: For an Entity having an international transaction and fulfilling two conditions:
B) (i) Value of international transactions exceeds Rs. 500 million.
(ii) Value of sale, transfer, lease, or use of the intangible property is more than 100 Million.
Whom to 3CEAA is furnished
Both Part A and Part B are furnished to “Director General of Income Tax – Risk Assessment
What is the Cut-off date to file Form 3CEAA
A report in form 3CEAA shall be furnished on or before the due date for furnishing the return of income as specified in section 139(1).
What is the Information required in form 3CEAA at the time of filling
Information required in form 3CEAA (Part A)
- Name, address, and PAN of the assessee.
- Name and address of International group of which assessee is a constituent entity.
- Accounting year for which report is being submitted.
- A number of constituent entities of the international group operating in India.
- Name, address, and PAN of all other constituent entities operating in India.
Information required in form 3CEAA (Part B)
- List (name and address) of all entities of the international group.
- Chart of the ownership structure of all entities of an international group.
- Nature and profit drivers of businesses.
- Description of the supply chain for largest five product or services of the international group in the term of revenue, and other product or service having more than 5% of the consolidated group revenue.
- A list and a brief description of important service arrangements made among members of the international group except for R&D services.
- TP Policy for transactions made between members entities of the group.
- List of major geographical markets of an international group.
- List of Functions, assets, and risk analysis of the constituent entities of a group that contributes more than 10% of revenue or assets or profit of the group.
- Description of important business restructuring, acquisitions, and divestments transactions.
- Description of the overall strategy of the international group for development, ownership, and exploration of the intangible asset including the location of principal R&D facilities and their management.
- List of all entities and address which engaged in development and management of the intangible property.
- List of all intangible property of group, ownership entity, and their address.
- List and a brief description of important agreements among members of the group. Description of TP Policy of group related to R&D and intangible property.
Details of transactions of transfer of intangible property among members of the group
- Name of Buying and selling entity.
- Compensation paid for such transfer.
- A detailed description of the financial arrangements of the group including the name and address of the top 10 unrelated lenders.
- Name and address of group entities that provide financial functions.
- Detail of TP policy of group for financial arrangement among group entities.
- Copy of consolidated financial statement of the group.
Find Your Form here: Form 3CEAA