CBDT Amends Income Tax Rules 12CA & 12CC: New Due Dates for Statements on Income Distribution by Business & Securitisation Trusts [Read Notification]

The  Central Board of Direct Taxes ( CBDT ) under the Ministry of Finance (Department of Revenue) issued Notification No. 17/2025 dated February 24, 2025, announcing amendments to the Income Tax Rules, 1962.

The changes specifically impact Rules 12CA and 12CC, which govern the due dates for filing statements under Sections 115UA and 115TCA of the Income Tax Act, 1961. These sections relate to the taxation of income distributed by Business Trusts and Securitisation Trusts to their unit holders.

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These rules are called The Income-tax (Fifth Amendment) Rules, 2025, and are effective immediately.

Key Changes in Reporting Requirements

1. New Process for Business Trusts (Rule 12CA – Section 115UA)

A Business Trust (such as a REIT or InvIT) distributing income to unit holders must follow these steps:

• Reporting to Tax Authorities: The person responsible for distributing income on behalf of the business trust must submit Form 64A to the Principal Commissioner or Commissioner of Income-tax by June 15 of the financial year following the distribution. This must be filed electronically with a digital signature and verified by an accountant.
• Informing Unit Holders: Each unit holder must receive Form 64B by June 30. The form will be generated and downloaded from a specified web portal. The person making the payment will also verify it electronically.

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2. New Process for Securitisation Trusts (Rule 12CC – Section 115TCA)

A Securitisation Trust (which pools and distributes financial assets) must comply with similar reporting rules:

• Reporting to Tax Authorities: The person responsible for paying or crediting income on behalf of the Securitisation Trust must submit Form 64E to the Principal Commissioner or Commissioner of Income-tax by June 15 of the financial year following the payment. This must also be filed electronically with a digital signature and verified by an accountant.
• Informing Investors: Investors must receive Form 64F by June 30. They can generate and download it from a designated web portal. The person making the payment must also verify it.

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Role of the Income-tax (Systems) Department

The Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) is responsible for:

1. Setting up procedures for electronic filing of Forms 64A and 64E, along with ensuring security, storage, and retrieval of income distribution statements.
2. Defining the format and process for generating and downloading Forms 64B and 64F from the official tax web portal.
3. Managing the daily administration of certificate issuance and online filings.

To Read the full text of the Notification CLICK HERE

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