The CBDT has notified amended Income Tax Rule 12CC (along with new Income Tax Forms 64E & 64F) for furnishing of Statement of income Distributed by a Securitisation Trust u/s 115TCA of Income tax, as under:
S.O. 3573(E).—In exercise of the powers conferred by section 295 read with sub-section (4) of section 115TCA 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 ( 33rd Amendment) Rules, 2016. (2) It shall be deemed to have come into force from the 1st day of June, 2016.
2. In the Income-tax Rules, 1962, (hereinafter the said rules), after rules 12CB, the following rule shall be substituted, namely:-
12CC. Statement under sub-section (4) of section 115TCA
(1) The statement of income distributed by a securitisation trust to its investor shall be furnished to the Principal Commissioner or the Commissioner of Income-tax within whose jurisdiction the principal office of the securitisation trust is situated, by 30th day of November of the financial year following the previous year during which such income is distributed:
Provided that the statement of income distributed shall also be furnished to the investor by 30th day of June of the financial year following the previous year during which the income is distributed.
(2) The statement of income distributed shall be furnished under sub-section (4) of section 115TCA by the securitisation trust to-
(i) the Principal Commissioner or the Commissioner of Income-tax referred to in sub-rule (1), in Form No. 64E, duly verified by an accountant in the manner indicated therein and shall be furnished electronically under digital signature;
(ii) the investor in Form No. 64F, duly verified by the person distributing the income on behalf of the securitisation trust in the manner indicated therein.
(3) 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. 64E and shall also be responsible for evolving and implementing appropriate security, archival and retrieval policies in relation to the statements so furnished.
3. In the said rules, in Appendix-II, after the Form No. 64D, the following Forms shall be inserted, namely:–
FORM NO. 64E
[See rule 12CC (2)(i)]
Statement of income paid or credited by a securitisation trust to be furnished under section 115TCA of the Income tax Act, 1961 (please refer attachment for format)
FORM NO. 64F
[See rule 12CC (2)(ii)]
Statement of income distributed by a securitisation trust to be provided to the investor under section 115TCA of
the Income-tax Act, 1961 (please refer attachment for format)