CBDT notifies forms for reporting by investment Funds U/s. 115UB(7)

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GOVERNMENT OF INDIA
MINISTRY OF FINANCE
DEPARTMENT OF REVENUE
(CENTRAL BOARD OF DIRECT TAXES)
NEW DELHI

NOTIFICATION NO. 92/2015, Dated: December 11, 2015

S.O.3357 (E) In exercise of the powers conferred by section 295 read with sub-section (7) of section 115UB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-

1. (1) These rules may be called the Income-tax (20th Amendment) Rules, 2015.

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

2. In the income-tax Rules, 1962, after rule 12CA, the following rule shall be inserted, namely:-

“Statement under sub-section (7) of section 115UB.

12CB.(1) The statement of income paid or credited by an investment fund to its unit holder shall be furnished by the person responsible for crediting or making payment of the income on behalf of an investment fund and the investment fund to the-

(i) unit holder by 30th day of June of the financial year following the previous year during which the income is paid or credited in Form No. 64C, duly verified by the person paying or crediting the income on behalf of the investment fund in the manner indicated therein; and

(i)) Principal Commissioner or the Commissioner of Income-tax within whose jurisdiction the Principal office of the investment fund is situated by 30th day of November of the financial year following the previous year during which the income is paid or credited, electronically under digital signature, in Form No. 64D duly verified by an accountant in the manner indicated therein.

(2) The Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems), as the case may be, shall specify the procedure for filing of Form No. 64D and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to the statements of income paid or credited so furnished under this rule.”

3. In Appendix-II, after the Form No. 64B, the following Forms shall be inserted, namely:-

“FORM NO. 64C
[See rule 12CB (1)(i)]

Statement of income distributed by an investment fund to be provided to the unit holder under section 115UB of the Income-tax Act, 1961

1. Name of the unit holder:

2. Address of the unit holder:

3. Permanent Account Number of the unit holder:

4. Previous year ending:

5. Name and address of the Investment Fund:

6. Permanent Account Number of the Investment Fund:

7. Details of the income paid or credited by the Investment Fund to the unit holder during the previous year:

(In Rs.)

S. No.	Amount paid or credited	Date of payment or credit	Breakup of Amount paid/credited under Heads of Income
S. No.	Amount paid or credited	Date of payment or credit	‘Business and Profession	‘Long Term Capital Gain’		‘Short Term Capital Gain’		‘Other Sources’
				Referred to in Section 10(38)	Others	To which Section 111A applies	Others	‘Dividend’ [referred to in Section 115O]	Others
(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)

I, _______________________________ (Name in full and in block letters) son/daughter/wife of _________________________________ do hereby solemnly declare that to the best of my knowledge and belief what is stated above and in the Annexure(s), including the documents accompanying such Annexure(s), is correct and complete. I further declare that I am furnishing such statement in my capacity as ___________________ (designation) and that I am competent to furnish this statement and verify it.

Verified today the ___________ day of __________

Place ________

Signature
_________________

FORM NO.64D
[See Rule 12CB (1)(ii)]

Statement of income paid or credited by investment fund to be furnished under section 115UB of the Income-tax Act, 1961

1. Name of the Investment Fund:

2. Address of the registered office:

3. Legal status: [company/trust/limited liability partnership; body corporate]

4. Permanent Account Number:

5. Previous year ending:

6. Name and address of the Directors/Trustees/Partners of the Investment fund*:

S.No.	Name	Address
(1)	(2)	(3)

7. (i) Whether registered as Alternative investment Fund with SEBI under Yes/No* the Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012:

(ii) If Yes, furnish following details:

(a) Whether registered as Category I/II

(b) Registration number

(c) Date of registration

8. Total Income of Investment Fund:

9. (i) Details of losses of the previous year, if any; required to be ignored for purposes of section 115UB(1) in accordance with clause (ii) of sub-section (2) of section 115UB:

S.No.	Head of Income	Amount of loss
(1)	(2)	(3)

(ii) Details of losses of preceding previous year(s), if any; required to be set off against the income of the previous year in accordance with clause (i) of sub-section (2) of section 115UB:

S.No.	Head of Income	Amount of loss	Amount set off in current year	Amount to be carried forward
(1)	(2)	(3)	(4)	(5)

(iii) Aggregate of income of Investment fund after ignoring the loss in (i) above and setting off of losses at (ii) above:

(iv) Income under head ‘Business & Profession’:

S.No.	Amount	Proportion [Column 2/Amount at 9(iii) above]
(1)	(2)	(3)

(v) Income under head ‘Capital Gain’:

S.No.	Category	Amount	Proportion (Column 3/Amount at 9(iii) above]
(1)	(2)	(3)	(4)
1	Long Term Capital Gain referred to in Section 10(38)
2	Long Term Capital Gain [Others]
3	Short Term Capital Gain [To which Section 111A applies]
4	Short Term Capital Gain [Others]

(vi) Income under the head ‘Other Sources’:

S.No.	Category	Amount	Proportion (Column 3/Amount at 9(iii) above]
(1)	(2)	(3)	(4)
1	Dividends [referred to in Section 115-O]
2	Others

12. Details of person being a unit holder, referred to in sub-section (1) or section 115UB by whom the income is received or in whose name it has been credited:

S. No.	Name of Unit Holder	Address	PAN	Total amount paid/ credited/ Deemed to be credited	Income under the head ‘Business or Profession [Column 5 x Column 3(1) of Table at s.no.9(iv)]	Income under the head ‘Long Term Capital Gains’		Income under the head ‘Short Term Capital Gains’		Income under the head ‘Other Sources’
S. No.	Name of Unit Holder	Address	PAN	Total amount paid/ credited/ Deemed to be credited		Referred to in Section 10(38) [Column 5 x Column 4(1) of Table at s.no.9(v)]	Others [Column 5 x Column 4(2) of Table at s.no. 9(v)]	To which Section 111A applies [Column 5 x Column 4(3) of Table at s.no.9(v)]	Others [Columns 5 x Column 4(4) of Table at s.no. 9(v)]	‘Dividend ‘[referred to in Section 115-O] [Column 5 x Column 4(1) of Table at s.no.9(vi)]	Others [Column 5 x Column 4(2) of Table at s.no. 9(vi)]
(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)

Attach a copy of the certificate of registration under Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012.

Attach audited accounts including balance sheet, annual report, if any, with certified copies of income and appropriation towards payment of income or credit of income [including amount deemed to have been credited in accordance with provisions of section 115 UB(6)]

I __________________________________________________ (Name in full and in block letters) son/ daughter/wife of _______________________ do hereby solemnly declare that to the best of my knowledge and belief what is stated above and in the Annexure(s), including the documents accompanying such Annexure(s), is correct and complete. I further declare that I am furnishing such statement in my capacity as ___________________ (designation) and that I am competent to furnish this statement and verify it.

Verified today the _______________ day of _______________.

Place _______________ Signature ____________

Verification

I/We ___________________________________________ have examined the books of account and other documents showing the particulars of income earned and the income paid/credited [including amount deemed to have been credited in accordance with provisions of section 115 UB(6)] to the unit holder by the ____________________________ (name of the Alternative Investment Fund) for the previous year ending
__________________.

2. I/We declare that the above particulars are true and correct to the best of my/our knowledge and belief.

_______________________

Place _______________ (Signature with name of the Accountant)

Date ________________

Notes: 1. “Accountant” means the accountant as defined in the Explanation below sub-section (2) of section 288 of the Income-tax Act, 1961.

2. All amount to be mentioned in Indian Rupees

*Strike out whichever is not applicable.”

F.No.142/22/2015-TPL

(Ekta Jain)
Deputy Secretary (Tax Policy and Legislation)

Note:- The principal rules were published in the Gazette of India Extraordinary, Part III, Section 3, Sub-section (ii), vide notification number S.O.969(E), dated the, 26th March, 1962 and last amended vide notification number SO No.3312(E) dated the 8th December, 2015.