International Tax
Form 48 (formerly Form 3CEB) — Meaning
The accountant's report certifying international and specified domestic transactions for transfer pricing.
What is Form 48 (formerly Form 3CEB)?
Every taxpayer with an international transaction with an associated enterprise, or specified domestic transactions above ₹20 crore, must file an accountant's report certifying those transactions and their arm's length pricing. It was Form 3CEB under the 1961 Act and is Form 48 under the Income-tax Act, 2025. It is due one month before the return due date for transfer pricing cases; failure to file can attract a ₹1 lakh penalty.
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Related terms
More International Tax terms
NRI (Non-Resident Indian)
An Indian citizen residing outside India for more than 182 days in a financial year.
RNOR (Resident But Not Ordinarily Resident)
A transitional residency status for individuals who have recently returned to India after being NRIs.
DTAA (Double Taxation Avoidance Agreement)
Bilateral treaty between India and another country preventing the same income from being taxed twice.
FEMA (Foreign Exchange Management Act)
Indian law governing foreign exchange transactions, cross-border investments and NRI account operations.
LRS (Liberalised Remittance Scheme)
RBI scheme allowing resident individuals to remit up to USD 250,000 per year abroad for permitted purposes.
