The Central Board of Direct Taxes on 14th September 2022, published the Income-tax (30th Amendment) Rules, 2022 to further amend the Income-tax Rules, 1962.
Through this amendment, rule 121A which deals with form of statement to be furnished by producers of cinematograph films or persons engaged in specified activity has been substituted as follows:
The statement required to be furnished under section 285B by a person carrying on production of cinematograph film or engaged in specified activity, or both, shall be in Form No. 52A for each previous year. The Form No. 52A shall be furnished within sixty days from the end of the previous year.
Form No. 52A, shall be furnished electronically,—
- under digital signature, if the return of income is required to be furnished under digital signature;
- through electronic verification code in a case not covered under clause (i).
The Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems), as the case may be, shall,–– (a) specify the procedures, formats and standards for the purposes of furnishing and verification of Form No. 52A; (b) be responsible for the day-to-day administration in relation to furnishing and verification of Form No. 52A; and (c) be responsible for formulating and implementing appropriate security, archival and retrieval policies in relation to Form No. 52A.
