Furnishing of statement of income by a business trust to the prescribed authority and the unitholders​

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART-II, SECTION. 3, SUB-SECTION (ii)]

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

DEPARTMENT OF REVENUE

(CENTRAL BOARD OF DIRECT TAXES)

NOTIFICATION

INCOME-TAX

New Delhi, the 19th January , 2015

S.O. 180 (E). – In exercise of the powers conferred by section 295 read with subsection (4) of section 115 UA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Incometax Rules, 1962, namely:-

1. (1) These rules may be called the Income-tax (1 stAmendment) Rules, 2015.

(2) They shall come into force from the day of their publication in the ) Official Gazette.

2. In the Income-tax Rules, 1962, -

(A) afterrule12C the following rule shall be inserted,namely:-

“Statement under sub-section (4) of section 115UA.

12CA. (1)The statement of income distributed by a business trust to its unit holder shall be furnishedto the Principal Commissioner or the Commissioner of Income-tax within whose jurisdiction the principal office of the business trust is situated, by the 30th November of the financial year following the previous year during which such income is distributed,:

Provided that the statement of income distributed shall also be furnished to the unit holder by the 30th June of the financial year following the previous year during which the income is distributed.

(2) The statement of income distributed shall be furnished under sub-section (4) of section 115UA by the business trust to - (i) the Principal Commissioner or the Commissioner of Incometax referred to in sub-rule (1), in Form No. 64A, duly verified by an accountant in the manner indicated therein and shall be furnished electronically under digital signature;

(ii) the unit holder in Form No. 64B, duly verified by the person distributing the income on behalf of the business trust in the manner indicated therein.

(3) The Director General of Income-tax (Systems) shall specify the procedure for filing of Form No. 64A and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to the statements so furnished.”;

Please refer the attached file for details