The Central Board of Direct Taxes (CBDT) notifies Form No. 52A regarding Statement to be furnished to the Assessing Officer in respect of production of a cinematograph film.
The Board empowered under section 285B read with section 295 of the Income-tax Act, 1961 has notified Income-tax (32nd Amendment), Rules, 2021 which seeks to further amend Income-tax Rules,1962.
In the Income-tax Rules, 1962, in Appendix II, for Form No. 52A shall be substituted, which is in respect of 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.
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.Subscribe Taxscan AdFree to view the Judgment