Income Tax - Statement of income distributed by a business trust - new Forms
CBDT has amended the Income Tax Rules to insert a new rule 12CA, which stipulates that:
The statement of income distributed by a business trust to its unit holder shall be furnished to 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.
The statement of income distributed shall be furnished under sub-section (4) of section 115UA by the business trust to the Principal Commissioner or the Commissioner of Income- tax referred to in sub-rule (1), in Form No. 64A and to the unit holder in Form No. 64B.
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.
New Forms 64A and 64B are prescribed.
CBDT Notification No. 03 /2015/F.No.142/10/2014-TPL., Dated: January 19, 2015