The Income-tax (32nd Amendment), Rules, 2021 – Revised Form No. 52A

The Central Board of Direct Taxes (CBDT) vide a notification dated 23^rd November 2021 has published the Income-tax (32nd Amendment), Rules, 2021 to further amend the Income-tax Rules, 1962. Through this amendment, CBDT notifies revised Form No. 52A which is a statement to be provided to the Assessing Officer in connection with the creation of a cinematograph film. The current article briefs the Form No. 52A in detail.

Synopsis of Notification

The CBDT, empowered by sections 285B and 295 of the Income-tax Act of 1961, has notified the Income-tax (32nd Amendment), Rules, 2021. In Appendix II of the Income-tax Rules, 1962, Form No. 52A shall be replaced for Form No. 52A, which is regarding the Statement to be provided to the Assessing Officer in respect of the production of a cinematograph film. The official notification about the Income-tax (32nd Amendment), Rules, 2021 is attached here for reference.

Form No. 52A for Assessee producing cinematograph film

Any person engaged in the production of cinematographic films must file a statement in Form 52A detailing any payments made by him or due from him totaling more than Rs. 50,000 to each individual participating in such production. The Form No. 52A contains the following information:

The producer’s name and address
the relevant previous year
the details of the film
the date the production of the film began
the date the production of the film was completed
the financial year to which the statement refers
Details of payments of more than Rs. 50,000 paid by the producer or due from him to each person involved in the film’s production as an employee or otherwise, including the person to whom payment has been made or is due and verification

Submission of Statements by Producers of Cinematograph Films

Any person carrying on the production of a cinematograph film during the whole or any part of any financial year shall, in respect of the period during which such production is carried on by him in such financial year need to prepare a statement in Form 52A and to be delivered to the Assessing Officer. As mentioned above, the statement should be in the prescribed form containing particulars of all payments of over fifty thousand rupees(Rs.50000) in the aggregate made by him or due from him to each such person as is engaged by him in such production.

Prescribed Date for Filing Form 52A

Form 52A is to be filed within thirty days from the end of such financial year or within thirty days from the date of the completion of the production of the film, whichever is earlier.

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The Income-tax (32nd Amendment), Rules, 2021 – Revised Form No. 52A

Synopsis of Notification

Form No. 52A for Assessee producing cinematograph film

Submission of Statements by Producers of Cinematograph Films

Prescribed Date for Filing Form 52A

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