Due Date of Form 3CEAD – Country-by-Country (CbC) Reporting for FY 2023-24 - 31st March, 2025

Form 3CEAD is an essential compliance requirement under Section 286 of the Income Tax Act, 1961, related to Country-by-Country (CbC) Reporting. This form must be submitted by parent entities, alternate reporting entities, or any constituent entity of a multinational enterprise (MNE) group that is resident in India.

For the financial year 2023-24, the deadline for filing Form 3CEAD is 31st March 2025.

What is Form 3CEAD?

Form 3CEAD is a Country-by-Country (CbC) Report that provides a global overview of an MNE group's financial information. It is mandated for MNE groups with consolidated revenue exceeding ₹6,400 crore (750 million euros) in the previous financial year.

This form ensures transparency in international tax reporting and helps tax authorities assess potential profit shifting and tax avoidance risks.

Who Needs to File Form 3CEAD?

Entities that must file Form 3CEAD include:
✅ Parent entities or alternate reporting entities of an MNE group, resident in India.
✅ Any constituent entity of a foreign MNE group that is required to file the CbC report in India.

If an Indian entity is a subsidiary of a foreign MNE, it may need to notify the tax authorities about the filing status of the CbC report in the parent entity’s country.

Key Components of Form 3CEAD

The form consists of three tables covering various aspects of the MNE group’s financial and operational details:

1️⃣ Table 1 – Financial Data

• Revenue (split between related and unrelated parties).

• Profit/Loss before tax.

• Income tax paid and accrued.

• Stated capital and accumulated earnings.

• Tangible assets and employee count.

2️⃣ Table 2 – List of Constituent Entities

• Name, country, and tax jurisdiction of each entity.

• Nature of business activities for each entity.

3️⃣ Table 3 – Additional Information

• Explanatory details for better clarity on the data reported in Tables 1 and 2.

How to File Form 3CEAD?

🔹 Step 1: Log in to the Income Tax e-Filing Portal using corporate credentials.
🔹 Step 2: Navigate to e-File > Income Tax Forms > File Form 3CEAD.
🔹 Step 3: Fill in the required details for the MNE group, including financial data and constituent entity information.
🔹 Step 4: Review and validate the information before submission.
🔹 Step 5: Submit the form electronically before 31st March 2025 to avoid penalties.

Penalties for Non-Compliance

📌 Failure to file Form 3CEAD: ₹5,000 per day (up to 30 days); ₹15,000 per day (beyond 30 days).
📌 Incorrect or misleading information: ₹50,000 per day until corrected.
📌 Failure to provide information when requested: ₹5,00,000 penalty.

Timely filing is crucial to avoid penalties and ensure tax compliance.

Final Reminder

📅 Due Date for FY 2023-24: 31st March 2025
📜 Required for MNE Groups with revenue exceeding ₹6,400 crore
📊 Essential for Country-by-Country Reporting under Section 286

Ensure compliance and submit Form 3CEAD before the deadline!

#IncomeTax #TaxCompliance #Form3CEAD #CbCReporting #InternationalTax #TaxFiling #IncomeTaxIndia #MNE #MultinationalCorporations #FinancialReporting #TransferPricing #BusinessTax #CorporateTax #TaxRegulations #FinanceIndia #Accounting #TaxTransparency #TaxLaw #IndiaTax #GlobalTax #Finance #TaxUpdates #CorporateFinance #StatutoryCompliance #CrossBorderTax