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

ActivityOld DeadlineNew DeadlineComments
1Transfer Pricing Audit – Form 3CEB30-Nov-202031-Oct-2020Preponed by 1 month
2Transfer Pricing Study Documentation30-Nov-202031-Oct-2020Preponed by 1 month
3Return of Income (With transfer pricing)30-Nov-202030-Nov-2020No change
4Return of Income (Without transfer pricing)30-Sep-202031-Oct-2020Postponed by 1 month
5Tax Audit30-Sep-202030-Sep-2020No Change
6Master File – Form 3CEAA30-Nov-202030-Nov-2020No change
7CbCR – Form 3CEAD1 year from the end of Parent’s Accounting year1 year from the end of Parent’s Accounting yearNo change
8Consolidation request for Master File – Form 3CEAB31-Oct-202031-Oct-2020No change
9Intimation of designated entity – Form 3CEACTwo months prior to the due date for furnishing of CbCR – Form 3CEADTwo months prior to the due date for furnishing of CbCR – Form 3CEADNo change

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