CBDT notifies New Form 52A to be furnished by Producers of Cinematograph Films
Section 285B in The Income- Tax Act, 1995 provides the statement to be furnished by the cinematograph films association.
Section 285B reads as under:
285B.Submission of statements by producers of cinematograph films, Any person carrying on the production of a cinematograph film during the whole or any part of any financial year shall, in respect of the period during which such production is carried on by him in such financial year, prepare and deliver or cause to be delivered to the 4 Assessing] Officer, within thirty days from the end of such financial year or within thirty days from the date of the completion of the production of the film, whichever is earlier, a statement in the prescribed form’ containing particulars of all payments of over five thousand rupees in the aggregate made by him or due from him to each such person as is engaged by him in such production 6 ].]
Rule-121A, Income-tax Rules provides as under:
[Form of statement to be furnished by the producer of cinematograph films].
121A. The statement required to be furnished under section 285B by a person carrying on production of cinematograph films shall be in Form No. 52A.]
CBDT has notified revised FORM NO. 52A– Statement to be furnished to the Assessing Officer under section 285B of the Income-tax Act, 1961, in respect of production of a cinematograph film under Rule rule 121A of Income-tax Rules, 1962 vide Notification No. 132/2021-Income Tax Dated, 23rd November, 2021.
The Form No. 52A consists of the Name and address of the producer, Relevant previous year, Details of the film, Date on which the production of the film was started, If the production of the film has been completed, the date of completion, Financial year to which the statement relates, Details of payments of over Rs. 50,000 in the aggregate made by the producer or due from him to each person engaged in the production of the film as an employee or otherwise including Details of the person to whom payment has been made or is due and verification.
Form 52A – Income Tax
Statement to be furnished to the Assessing Officer under section 285B of the Income-tax Act, 1961, in respect of production of a cinematograph film
CBDT notifies New Form 52A to be furnished by Producers of Cinematograph Films
