Inquiry about Form 3CEB filing

Form 3CEB is related to reporting international transactions under Section 286(4) of the Income Tax Act. To determine if your LLP needs to file Form 3CEB, consider the following: 1. Threshold: Your LLP's turnover is above ₹1 crore (₹10,900,000), which exceeds the threshold for filing Form 3CEB. 2. International transaction: Receiving payment from a foreign client constitutes an international transaction, as it involves a cross-border flow of funds. 3. Nature of transaction: Since you only received payment and did not make any payment to the foreign client, this would be considered a "receipt" and not a "payment" for the purpose of Form 3CEB. Based on these points, it appears that your LLP may be required to file Form 3CEB to report the international transaction. However,.

Thank you Sir Ramachary Rachkonda for your detailed reply , one of the CA's told me it is only for associated enterprises meaning if you do international transactions only with your own related company abroad or a relative's company (both should have some sought of mutual agreement to do fund transfer between them) then only you need to file Form 3CEB . In my case it was just a client paying for software services he is not related to me. Regarding the reporting of the international transaction he told me i need to report it in the income tax return which i did.