Changes in Indian Transfer Pricing compliance due dates – 2020

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India Union Budget 2020 has announced certain important date changes in the compliance for Transfer Pricing and Taxation. The change is proposed so that the Income-tax returns/ declarations could carry auto-populated details, which would simplify the tax return form and process. As management or a consultant, you should be geared up and well prepared to address such a change.
We have provided a snapshot (along with new-old comparison) and our comments below which can act as a quick reckoner for your reference. In case you have any questions, feel free to write to the author at info@transprice.in
Activity Old Deadline New Deadline Comments
1 Transfer Pricing Audit – Form 3CEB 30-Nov-2020 31-Oct-2020 Preponed by 1 month
2 Transfer Pricing Study Documentation 30-Nov-2020 31-Oct-2020 Preponed by 1 month
3 Return of Income (With transfer pricing) 30-Nov-2020 30-Nov-2020 No change
4 Return of Income (Without transfer pricing) 30-Sep-2020 31-Oct-2020 Postponed by 1 month
5 Tax Audit 30-Sep-2020 30-Sep-2020 No Change
6 Master File – Form 3CEAA 30-Nov-2020 30-Nov-2020 No change
7 CbCR – Form 3CEAD 1 year from the end of Parent’s Accounting year 1 year from the end of Parent’s Accounting year No change
8 Consolidation request for Master File – Form 3CEAB 31-Oct-2020 31-Oct-2020 No change
9 Intimation of designated entity – Form 3CEAC Two months prior to the due date for furnishing of CbCR – Form 3CEAD Two months prior to the due date for furnishing of CbCR – Form 3CEAD No change

Best Regards,

Team TransPrice

Reach us: info@transprice.in

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