In accordance with the Income Tax Act of 1961, the income tax department has published a list of Frequently Asked Questions (FAQs) for submitting form 3CEB.
According to Section 92E, Form 3CEB is a report from an accountant about any overseas transaction(s) and any specified domestic transaction (s).
According to the department’s FAQ, the following conditions must be met before filing Form 3CEB:
(a) Taxpayer and CA must be registered on the e-Filing portal with a valid user ID and password;
(b) Taxpayer and CA must both have active PAN status;
(c) Taxpayer must have assigned a CA for Form 3CEB, and
(d) CA and Taxpayer must both have a digital signature certificate that is both valid and active.
The department provided the following information regarding the process to be followed to submit the form: “Form uploaded by CA shall be available under “For your action” tab in Taxpayer’s Worklist. Form 3CEB may be approved or rejected by the taxpayer. The filing of the form is deemed complete once the taxpayer has approved and verified it.
“UDIN can be generated by practicing chartered accountants using the udin.icai.org website. The user must click “View/Update UDIN details” under the “e-file Income tax Forms” page after logging in with valid credentials on the income tax portal in order to update UDIN, it stated.
The department recommended the following actions to be taken in the event that Form 3CEB has already been submitted by the CA but the assessee is unable to accept the form due to a “Form Submission Failed!” error:
(a) Assessee should reject the form that has been filed by the CA but is still pending acceptance. Reassign CA with the Form.
(b) The CA should accept the request for the form, fill it out without the special characters that are prohibited, or erase them from the form after it has been filled out.
(c) Submit the amended JSON/XML for Form 3CEB.
(d) The Assessee must accept the form that the CA has supplied.