Form 3CEA

Relevant Statute

• Section 50B of the Income-tax Act, 1961
• Rule 6H of the Income-tax Rules, 1962

Legal Provision

• In Form 3CEA , the assessee is required to obtain a report from a Chartered Accountant in practice. It must certify that the computation of the net worth of the undertaking/division has been made in accordance with Section 50B(2)(i) and the attached Explanations.
• The CA must verify the accuracy of the transfer values, liabilities, and related disclosures. In line with Rule 12(2) proviso, the accountant's report in Form 3CEA must be furnished electronically on the income tax e-filing portal.

Applicable For:

• All assessees undertaking a slump sale where capital gains under Section 50B are triggered.

Effective From

Pre-requisite While Filing the Form

• Not applicable

Due Date

• One month prior to the due date of filing ITR under Section 139(1).

How to file it