CBDT vide Notification No. 109/2022 dated 14.09.2022 in G.S.R. 697(E) through Income-tax (30th Amendment) Rules, 2022 notified amended Rule 121A of the Income-tax Rules, 1962 (‘Rules’) and substituted existing Form No. 52A to be furnished by producers of cinematograph films or persons engaged in specified activity in accordance with amended provisions introduced in section 285B of the Income-tax Act, 1961 (‘Act’) by the Finance Act, 2022.
Finance Act, 2022 has widened the scope of section 285B related to reporting by producers of cinematograph films or persons engaged in specified activities in Form 52A.
Prior to the amendment, under section 285B, the producer of cinematographic films is obliged to furnish within 30 days from the end of the financial year or from the date of completion of the film, whichever is earlier, a statement containing particulars of all payments over Rs. 50,000/- in the aggregate made by him or due from him to each person engaged by him.
After the amendment by the Finance Act, 2022, section 285B is expanded to include persons engaged in specified activities for the reporting requirements in Form 52A.
“Specified Activities” would mean event management, documentary production, production of programs for telecasting on television or over the top platforms or any other similar platform, sports event management, other performing arts or any other activity as the Central Government may, by notification in the Official Gazette, specify in this behalf.
Section 285B prescribes that any person carrying on the production of a cinematograph film or engaged in any specified activity, or both, during the whole or any part of any financial year shall, in respect of the period during which such production or specified activity is carried on by him in such financial year, furnish within the prescribed period, a statement in the prescribed form to the prescribed income tax authority in the prescribed manner, containing particulars of all payments of over fifty thousand rupees in the aggregate made by him or due from him to each such person as is engaged by him in such production or specified activity.
The Board has issued this notification to substitute the existing Rule 121A and Form No. 52A by exercising the powers conferred to it by section 285B of the Act in order to incorporate the amendments introduced in the section by the Finance Act, 2022.
Rule 121A of the Rules provides for furnishing of statement required to be furnished under section 285B by a person carrying on the production of cinematograph films or persons engaged in specified activities shall be in Form No. 52A.
The following amendments are notified in Rule 121A of the Rules-
1. The statement in Form No. 52A shall be required to be furnished for each previous year.
2. Form No. 52A shall be furnished within 60 (sixty) days from the end of the previous year.
3. Form No. 52A shall be required to be fursnihed electronically under digital signature or electronic verification code (EVC), as the case may be.
4. The Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) shall specify the procedures, formats and standards for the purposes of furnishing and verification of Form No. 52A.
5. Form No. 52A is amended to include the relevant particulars for reporting specified activity undertaken by a person.
Read the full text of CBDT Notification No. 109/2022 dated 14.09.2022 on Amended Rule 121A and Form No. 52A
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 14th September, 2022
INCOME-TAX
G.S.R. 697(E).–In exercise of the powers conferred by section 285B read with clause (mma) of sub-section (2) of section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. Short title and commencement.–(1) These rules may be called the Income-tax (30th Amendment) Rules, 2022.
(2) They shall come into force from the date of publication in the Official Gazette.
2. In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), for rule 121A, the following rule shall be substituted, namely:-
“121A. Form of statement to be furnished by producers of cinematograph films or persons engaged in specified activity.-
(1) The statement required to be furnished under section 285B by a person carrying on production of cinematograph film or engaged in specified activity, or both, shall be in Form No. 52A for each previous year.
(2) Form No. 52A shall be furnished within sixty days from the end of the previous year.
(3) For the purpose of section 285B, the prescribed authority shall be the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, or any person authorised by the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems).
(4) Form No. 52A, shall be furnished electronically,—
(i) under digital signature, if the return of income is required to be furnished under digital signature;
(ii) through electronic verification code in a case not covered under clause (i).
(5) The Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems), as the case may be, shall,–
(a) specify the procedures, formats and standards for the purposes of furnishing and verification of Form No. 52A;
(b) be responsible for the day-to-day administration in relation to furnishing and verification of Form No. 52A; and
(c) be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to Form No. 52A.
(6) The Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems), as the case may be, or any person authorised by the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) shall forward Form No. 52A to the Assessing Officer.
Explanation: For the purposes of this rule, "specified activity" shall have the same meaning as assigned to it in the Explanation to section 285B of the Act.‖
3. In the principal rules, in Appendix II, for Form No. 52A, the following Form shall be substituted, namely:-
“FORM NO. 52A
[See rule 121A]
Statement to be furnished under section 285B of the Income-tax Act, 1961 by a person carrying on production of a cinematograph film or engaged in specified activity or both
…….
……
Verification
I ………………., do hereby declare that what is stated above is true to the best of my knowledge and belief. Verified today, the day of………….
Place:
Date:
Signature of the Authorised Signatory.”
[Notification No. 109/2022/F. No. 370142/ 44/2022-TPL]
MRINALINI KAUR SAPRA, Director
Note : The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii) vide notification number S.O. 969 (E), dated the 26th March, 1962 and was last amended vide notification number G.S.R. 677(E) dated 1.9.2022.
Download CBDT Notification No. 109/2022 dated 14.09.2022 on Amended Rule 121A and Form No. 52A in PDF format
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