Statement of income of investment fund to unit holders u/s 115UB to be in electronic form. CBDT amends form 64C and 64D
MINISTRY OF FINANCE
(Department of Revenue)
[CENTRAL BOARD OF DIRECT TAXES]
Notification No. 55/2020
New Delhi, the 28th July, 2020
INCOME-TAX
G.S.R.469(E).—In exercise of the powers conferred by sub-section (7) of section 115UB read with 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 (18th Amendment) Rules, 2020.
(2) They shall come into force on the date of their publication in the Official Gazette.
2. In the Income-tax Rules, 1962,-
(a) for rule 12CB, the following rule shall be substituted, namely:-
“12CB. Statement under sub-section (7) of section 115UB.
(1) The statement of income paid or credited by an investment fund to its unit holder shall be furnished by the person responsible for crediting or making payment of the income on behalf of an investment fund and the investment fund to the-
(i) unit holder by 30th day of June of the financial year following the previous year during which the income is paid or credited in Form No. 64C after generating and downloading the same from the web portal specified by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or the person authorised by him and duly verified by the person paying or crediting the income on behalf of the investment fund in the manner indicated therein; and
(ii) Principal Commissioner or the Commissioner of Income-tax, as the case may be, within whose jurisdiction the Principal office of the investment fund is situated by 15th day of June of the financial year following the previous year during which the income is paid or credited, electronically under digital signature, in Form No. 64D duly verified by an accountant in the manner indicated therein.
(2) The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems), as the case may be, shall specify the,-
(i) procedure for filing of Form No. 64D and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to the statements of income paid or credited so furnished under this rule; and
(ii) procedure, formats and standards for generation and download of statement in Form No. 64C from the web portal specified by him or by the person authorised by him and he shall be responsible abcaus.in for the day-to-day administration in relation to the generation and download of certificates from the web portal specified by himor the person authorised by him.”
(b) in Appendix-II, for Form No. 64C and 64D, the following Forms shall be substituted, namely: –
“FORM NO. 64C
[See clause (i) of sub-rule (1) of rule 12CB]
Statement of income distributed by an investment fund to be provided to the unit holder under section 115UB of the Income-tax Act, 1961
FORM NO. 64D
[See clause (ii) of sub-rule (1) of rule 12CB ]
Statement of income paid or credited by investment fund to be furnished under section 115UB of the Income-tax Act, 1961
F. No.142/22/2015-TPL]
NEHA SAHAY,
Under Secy. (Tax Policy and Legislation Division)
Note: The principal rules were published in the Gazette of India Extraordinary, Part III, section 3, sub-section (ii), vide notification number S.O. 969(E), dated the 26th March, 1962 and last amended vide notification number 464(E) dated the 24th July, 2020.