Income Tax Form 75: Income Statement to Investor by Venture Capital Company or Fund

Form 75 under section 222 of the Income-tax Act, 2025 is an investor-specific statement generated by Venture Capital Companies (VCC) or Venture Capital Funds (VCF) to report income paid or credited to each investor. It is a child form derived from Form 74 and is not filed separately but auto-generated and furnished to investors by 30th June following the relevant tax year. The form provides a detailed breakdown of pass-through income, including capital gains, dividends, and other income, preserving its character for taxation in the hands of investors. This enables accurate reporting under Schedule PTI in income tax returns. The introduction of Form 75 enhances transparency, reduces reporting errors, and simplifies compliance for both funds and investors. Timely generation and distribution of this form is mandatory, ensuring alignment between fund-level disclosures and investor tax filings while minimizing mismatches and disputes.

Income Tax Department
Ministry of Finance, Government of India

FAQs on Income Tax Form 75: Statement of income paid or credited by Venture Capital Company or Venture Capital Fund to be provided to the person who is liable to tax under section 222 of Income Tax Act, 2025

Statement of income paid or credited by Venture Capital Company or Venture Capital Fund to be provided to the person who is liable to tax under section 222

1. What is Form 75?

Ans: Form 75 is a statement of income paid or credited to a person who is liable to tax u/s 222 of the Act. The said statement is to be provided by the Venture Capital Fund or Venture Capital Company to such person.

2. Who should file Form 75?

Ans: Form 75 is not to be filed separately. It is a child form of Form No. 74, which is the parent Form. The Venture Capital Fund or Venture Capital Company has to generate and download this form after filing Form No. 74. The form is to be generated for each investor by the Venture Capital Fund or Company and then it is to be furnished to each investor.

3. What is the time limit for filing Form 75?

Ans: Form 75 must be provided to the person liable to tax by the Venture Capital Company or Fund by 30^th June of the financial year to immediately following the tax year in which income was paid or credited by the Venture Capital Fund or Company.

4. Can Form 75 be filled up offline?

Ans: No. Form 75 is automatically generated from the data filed in Form 74 through the e-filing portal specified by the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems). No separate documents need to be attached to Form 75 as it is a statement derived from the parent Form 74.

5. What documents are required to file Form 75?

Ans: This Form is generated from the parent Form 74 so no separate document is required.

6. Why is Form 75 important?

Ans: Generating and providing Form 75 to the persons liable to tax within the due date is a mandatory compliance requirement of the Venture Capital Company or Fund. In case of persons liable to tax, who are investors, the form is important because-

• Income reported in Form 75 is taxable in the hands of investors as if they had made direct investments in the Venture Capital Undertaking (pass-through status).
• Investors receive income classification (capital gains, dividend, other income) which they must report in their respective Income Tax Returns (ITR-2, ITR-3, ITR-5, ITR-6, or ITR-7) under Schedule PTI (Pass Through Income).
• The income retains its character and tax treatment in the hands of the investor as per Section 222 of the Income-tax Act, 2025.

Guidance Note on Income Tax Form 75: Statement of income paid or credited by Venture Capital Company or Venture Capital Fund to be provided to person who is liable to tax under section 222 of Income Tax Act, 2025

NEW FORM NO. 75 — Statement of Income Paid or Credited by Venture Capital Company or Venture Capital Fund to Investor

Purpose

Form 75 serves as a child form generated from Form 74, providing a detailed statement of income paid, credited, or deemed credited by a Venture Capital Company (VCC) or Venture Capital Fund (VCF) to individual investors under Section 222 of the Income-tax Act, 2025. This form is distributed to each investor liable to tax on such pass-through income, enabling accurate reporting in their Income Tax Returns. It is prepared under Rule 145 of the Income-tax Rules, 2026, to facilitate transparency in income distribution from investments in Venture Capital Undertakings.

Who Should Receive and Prepare

Form 75 is received by investors (unit holders) who are liable to tax on income distributed by SEBI-registered VCCs or VCFs from Venture Capital Undertakings. VCCs or VCFs prepare and generate this child form for each investor based on data from Form 74 filing. It targets investors reporting pass-through income under Schedule PTI in ITR forms.

Frequency & Due Dates

Distribution aligns with the filing timeline of parent Form 74 to ensure timely availability for investors’ ITR preparation.

Structure of Form 75

• Investor Personal Details: Tax year, name, complete address (flat/door/block no., premises/building/village, road/street/post office, area/locality, town/city/district, state, country, pin code), phone no., email address and PAN.
• VCC/VCF Basic Details: Name and PAN.
• Income Details Table: Serial number, total amount paid/credited/deemed to be credited, date of payment or credit, breakup under heads including Long Term Capital Gain (code and amount), Short Term Capital Gain (code and amount), Dividend, and Others (such as interest etc.).
• Verification and Declaration: Signed declaration by the authorized person of VCC/VCF, including name, capacity, date, place, and signature.

Documents Required to Prepare Form 75

VCCs/VCFs must possess the following while generating and distributing this form:

1. Data from filed Form 74, including investor-wise income breakup and proportions.

2. Audited accounts and certified income appropriation records from VCC/VCF.

3. Investor details verified against KYC documents, PAN records, and distribution ledgers.

4. SEBI registration certificate and fund deed for VCC/VCF identification.

Process Flow of Generating and Distributing Form 75

1. VCC/VCF generates income from Venture Capital Undertakings during the tax year and credits it to investors.

2. Prepare and file parent Form 74 electronically on the Income Tax e-filing portal by 15th June, including investor-wise details.

3. System generates child Form 75 for each investor from Form 74 data, populating personal details, income breakup, and codes.

4. Verify Form 75 details.

5.  Download and distribute Form 75 to each investor by 30^th

6. Principal Director General of Income-tax (Systems) oversees procedures for generation, security, and retrieval.

Outcome of Distributed Form 75

For Investors

Form 75 provides investor-specific pass-through income details, taxable as if directly earned from Venture Capital Undertakings under Section 222. Investors use it to report in Schedule PTI of ITR-2, ITR-3, ITR-5, ITR-6, or ITR-7, retaining income character (capital gains, dividend, other sources) for tax computation. It aids compliance, avoiding mismatches in tax assessments.

For VCC/VCF

Distribution fulfills reporting obligations under pass-through status, exempting VCC/VCF from tax at Sr. No. 6 of Schedule-V, while ensuring investor taxation. It streamlines audits and reduces disputes on income allocation.

Brief Note on Broad or Qualitative Changes Proposed

Key updates in Form 75 under the Income-tax Rules, 2026 include:

This is a newly introduced form to address the absence of child form in I.T. Rules, 1962 corresponding to parent Form-64 to enable investors/unit holder get clear, head wise details of income distributed by the VCC/VC

Challenges and Solutions

1. Challenge: Lack of date of payment/credit in parent Form 74 data hinders accurate population in child 75.

Solution: Adding this field to Form 74 table for seamless data flow during generation.

2. Challenge: Investors may misreport pass-through income due to complex head classifications without investor-specific statements.

Solution: Form 75 provides tailored breakup with codes, directly integrable into ITR Schedule PTI for accurate reporting.

3. Challenge: Manual preparation for multiple investors increases errors and burden for VCC/VCFs.

Solution: Automated generation from Form 75 via e-filing portal with validations ensures consistency and ease.

Common Changes Made Across Forms

1. To make Forms system-friendly and enable e-filing and uploading, certain anomalies found due to grouping of Name, Designation, Address, PAN have been separated into different boxes.

2. Assessment / Financial / Previous year or years have been replaced with Tax year or years, wherever appearing in the Form.

3.  Sections, Clauses and Schedules changes as per the Income-tax Act, 2025.

4. Currency symbol “Rs.” has been replaced with “₹”.