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The introduction of Form 164 under Section 507 of the Income-tax Act, 2025 marks a significant compliance requirement for entities involved in film production and specified activities such as OTT content creation, sports events and event management. As clarified through the latest FAQs issued by th
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Form 164 is an annual statement that must be filed by entities involved in the production of cinematograph films, OTT and television programmes, event management, sports events, and performing arts activities.
Individuals, partnership firms, LLPs, companies, and any entity engaged in specified production or event activities are required to file Form 164. Co-producers must file separately for their share of expenses.
The form requires details about the project or activity, its timeline (start and completion dates), and any payments exceeding £50,000 made to a single payee, along with applicable Tax Deducted at Source (TDS) information.
Yes, you must file Form 164 even if the film or activity is ongoing or has no set completion date, ensuring continuous reporting across tax years.
Form 164 must be submitted within 60 days from the end of the Tax Year.
Yes, the scope of Form 164 explicitly includes OTT platform content production, single sports events, and event management assignments, covering the entire entertainment and events ecosystem.
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