Updated Form 64D released by CBDT



Quick Summary
The Central Board of Direct Taxes (CBDT) has issued an updated version of Form 64D. This form is crucial for investment funds to report income paid or credited to their unit holders. The update follows the Income-tax (18th Amendment) Rules, 2020, which substituted Rule 12CB. The updated form is now available on the E-Filing Portal.

CBDT Releases Updated Form 64D for Investment Funds

An updated version of form 64D as per notification no. 55/2020 is now available for filing by the Central Board of Direct Taxes on the E-Filing Portal

Background:

The Central Board of Direct Taxes, on 28th July 2020 released the Income-tax (18th Amendment) Rules, 2020 wherein, Rule 12CB was substituted with the following:

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.

FAQ :

Form 64D is a statement for reporting income paid or credited by an investment fund to its unit holders, as required under sub-section (7) of section 115UB.

The person responsible for crediting or making payment of income on behalf of an investment fund is responsible for furnishing Form 64D.

Form 64D must be furnished by 15th June of the financial year following the previous year during which the income is paid or credited.

Form 64D should be filed electronically under digital signature.

Form 64D must be duly verified by an accountant in the manner indicated in the form.

The updated Form 64D is available on the E-Filing Portal.




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