Form 3CEAA

Relevant Statute

• Section 92D(4) of the Income-tax Act, 1961
• Rules 10DA of the Income-tax Rules, 1962

Legal Provision

• Form 3CEAA (Master File Report) must be filed by a constituent entity of an international group if:

• The group’s consolidated revenue exceeds Rs. 500 crores, and
• The value of international transactions exceeds Rs. 50 crores, or transactions involving intangibles, exceed Rs. 10 crores.
  • Part A is mandatory for all constituent entities, even if the above thresholds are not met; Part B contains information required under Rule 10DA(1)(a)–(n) and must be maintained for 8 years.
  • If multiple constituent entities in India are required to file the Form, any one may file it if designated by the group, and such designation is notified to the Joint Director in Form 3CEAB at least 30 days before the due date.

Applicable For:

• Form 3CEAA is required to be furnished by a constituent entity ( including Indian subsidiaries of multinational corporations, Indian joint ventures, Indian group entities involved in international transactions) if the following two conditions are satisfied:

• The consolidated group revenue of the international group exceeds INR 500 crore, and
• The aggregate value of international transactions:
  • exceeds INR 50 crore, or
  • in respect of intangible property, exceeds INR 10 crore during the accounting year.

Effective From:

• Form 3CEAA was introduced by the IT (Twenty-fourth Amdt.) Rules, 2017, w.e.f. 31-10-2017.

Pre-requisite While Filing the Form

• Not applicable

Due Date

• The Form is to be furnished to the designated Joint Director on or before the due date for filing the return of income under section 139(1) (i.e., 30th November where section 92E applies).

How to file it

• Form 3CEAA is to be filed online at https://www.incometax.gov.in/iec/foportal/

Consequences of Non-Filing

• Failure to furnish information under section 92D(4) attracts a penalty of Rs. 5,00,000 under section 271AA(2) .