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MINISTRY OF FINANCE
(Department of Revenue)
[CENTRAL BOARD OF DIRECT TAXES]
NOTIFICATION
New Delhi, the 28th July, 2020
INCOME-TAX
G.S.R. 469(E).—In exercise of the powers conferred by sub-section (7) of section 115UB read
with section 295 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.
Short title and commencement.—(1) These rules may be called the Income-tax (18th Amendment)
Rules, 2020.
(2) They shall come into force on the date of their publication in the Official Gazette.
2.
In the Income-tax Rules, 1962,-
(a) for rule 12CB, the following rule shall be substituted, namely:-
“12CB. Statement under sub-section (7) of section 115UB.—(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 after generating and downloading the
same from the web portal specified by the Principal Director General of Income-tax
(Systems) or the Director General of Income-tax (Systems) or the person authorised by him
and duly verified by the person paying or crediting the income on behalf of the investment
fund in the manner indicated therein; and
(ii) Principal Commissioner or the Commissioner of Income-tax, as the case may be, within
whose jurisdiction the Principal office of the investment fund is situated by 15th day of June
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 the Director General of Income-
tax (Systems), as the case may be, shall specify the,-
10
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
(i) 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; and
(ii) procedure, formats and standards for generation and download of statement in Form No.
64C from the web portal specified by him or by the person authorised by him and he shall
be responsible for the day-to-day administration in relation to the generation and download
of certificates from the web portal specified by him or the person authorised by him.”
(b) in Appendix-II, for Form No. 64C and 64D, the following Forms shall be substituted, namely: -
“FORM NO. 64C
[See clause (i) of sub-rule (1) of rule 12CB )]
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/AADHAAR 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 or loss [after ignoring the loss under clause (ii) of sub-section (2) of section
115UB] 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
‘Business
or
Profession’
‘Long Term Capital Gain’
‘Short Term Capital Gain’
‘Other Sources’
Chargeable
@10% u/s 112A
Chargeable
@10% (other than
section 112A)
Chargeab
le @20%
Chargeable
@15% 111A
Chargeable
@30%
Chargeable at
applicable rate
‘Dividend’
[referred to
in Section
115O]*
Others
(Please
specify
section if
taxed at
special
rate)
Income
Income/ Loss
Income/ Loss
Income/
Loss
Income/
Loss
Income
Income/
Loss
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
*‘[referred to in Section 115O]’ shall be omitted with effect from the Assessment year 2021-22.
8. Details of deemed loss as on 31st March, 2019 in terms of sub-section (2A) of section 115UB (to be passed to the
unit holder holding unit on 31st March, 2019):
(In Rs)
S.
No.
Assessment year
Breakup of deemed loss under Heads of Income
‘Long Term Capital Loss’
‘Short Term Capital Loss’
(1)
(2)
(3)
(4)
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
____________________
[भाग II—खण् ड 3(i)]
भारत का राजपत्र : असाधारण
11
FORM NO. 64D
[See clause (ii) of sub-rule (1) of rule 12CB ]
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
PAN/ AADHAAR
(1)
(2)
(3)
(4)
7. (i) Whether registered as Alternative Investment Fund with Securities and Exchange Board
of India under the Securities and Exchange Board of India (Alternative Investment Funds)
Regulations, 2012:
Yes/No*
(ii) If yes, furnish following details:
(d) Whether registered as Category I/ II
(e) Registration number
(f)
Date of registration
: Yes/No*
:
:
8. (a) Total income of Investment Fund during the previous year: ……………………………..
(b) Break-up of total income [aggregate of amounts under column (7) of the following table for each head]:
S.
No.
Under the head
Income/ Loss
Loss to be set
off in
accordance with
sub- section (2)
of section
115UB
Net Income/
loss after set-off
of losses in
terms of sub-
section (2) of
section 115UB
[(5) minus (6)]
Amount
from Off-shore
investment out of the
investment of non-
resident unit holder
Net
[(2)
minus
(3)]
(1)
(2)
(3)
(4)
(5)
(6)
(7)
1.
Profit and gains of business or
profession
2.
Long Term Capital Gains [Chargeable
@10% u/s 112A/ @10% (other than
section 112A)/ at @20%]
3.
Short Term Capital Gains [Chargeable
@15%
u/s
111A/
@30%/
at
applicable rate]
4.
Income from other sources (Dividend/
Others)
(Please specify section if taxed at
special rate)
12
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
9. (i) Details of losses of the previous year, if any; required to be ignored for purposes of sub-section (1) of section
115UB in accordance with,-
(a) sub-clause (b) of clause (i) of sub-section (2) of section 115UB:
S. No.
Head of Income
Amount of loss
(1)
(2)
(3)
Profit and gains of business or
profession
(b) clause (ii) of sub-section (2) of section 115UB:
S. No.
Head of Income
Amount of loss
(1)
(2)
(3)
(ii) Details of losses under the head “Profit and gains of business or profession”, if any;:
S.
No.
Details of brought forward loss,
if any,
Amount of income/ loss during the
previous year after set-off [in
accordance with section 115UB(2)]
Amount of loss to be carried
forward
[(5) minus (6)]
Assessment
Year
Amount
Assessment
Year
Amount
(1)
(2)
(3)
(4)
(5)
(6)
(iii) Aggregate of positive income of the Investment Fund under various heads after setting off of losses at (ii)
above [aggregate of the positive amounts in column (7) of the table under para 8(b) after set off] :
……………..
(a) Income under head „Profit and gains of business or profession‟:
S. No.
Amount
Proportion [Column 2/ Amount at 9(iii) above]
(1)
(2)
(3)
(b) 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 [Chargeable @10% u/s 112A]
2
Long Term Capital Gain [Chargeable @10% (other
than section 112A)]
3
Long Term Capital Gain [Chargeable @20%]
4
Short Term Capital Gain [Chargeable @15% u/s 111A]
5
Short Term Capital Gain [[Chargeable @30%]
6
Short Term Capital Gain [Chargeable at applicable
rate]
[भाग II—खण् ड 3(i)]
भारत का राजपत्र : असाधारण
13
(c) 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 (Please specify section if taxed
at special rate)
*‘[referred to in section 115O]’ shall be omitted with effect from the assessment year 2021-2022.
10. Details of loss other than the loss under the head "Profits and gains of business or profession", if any, accumulated
at the level of investment fund as on 31st March, 2019:
Assessment
Year
Amount of Loss under various Heads of Income
Total
Long Term Capital Loss
Short Term Capital Loss
(1)
(2)
(3)
(4)
2016-2017
2017-2018
2018-2019
2019-2020
Total
11. Aggregate of loss under various heads after ignoring the loss in 9(i)(b) above [aggregate of the negative amounts
in column (7) of the table under 8(b)]: ………..
(i) Loss under head „Capital Gain‟:
S.
No.
Category
Amount
Proportion [Column 3/Amount at s no.
11]
(1)
(2)
(3)
(4)
1
Long Term Capital Gain [Chargeable @10% u/s 112A]
2
Long Term Capital Gain [Chargeable @10% (other than
section 112A)]
3
Long Term Capital Gain [Chargeable @20%]
4
Short Term Capital Gain [Chargeable @15% u/s 111A]
5
Short Term Capital Gain [Chargeable @30%]
6
Short Term Capital Gain [Chargeable at applicable rate]
(ii) Loss under the head „Other Sources‟:
S.
No
Category
Amount
Proportion [Column 3/ Amount at s
no. 11]
(1)
(2)
(3)
(4)
1
Other sources
(Please specify section if taxed at special rate)
14
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
12. Details of person being a unit holder, referred to in sub-section (1) of section 115UB by whom the income or loss
is received or in whose name it has been credited in a case where,-
(i) there is positive income:
S.
No.
Name
of Unit
Holder
Address
PAN/
AADHAAR
Total
Amount
of
positive
income
paid/
credited/
Deemed
to be
credited
Income
under the
head
„Business or
Profession
[Column 5
×
Column
3(1) of
Table at
s.no. 9(iiia)]
Income under the head „Long Term Capital
Gains‟
Income under the head „Short Term Capital Gains‟
Income under the head „Other
Sources‟
Chargeable
@10% u/s
112A
[Column 5 ×
Column 4(1)
of Table at
s.no.
9(iii)(b)]
Chargeable
@10% (other
than section
112A)
[Column 5 ×
Column 4(2)
of Table at
s.no.
9(iii)(b)]
Chargeable
@20%
[Column 5 ×
Column 4(3)
of Table at
s.no.
9(iii)(b)]
Chargeable
@15% u/s
111A
[Column 5 ×
Column 4(4)
of Table at
s.no.
9(iii)(b)]
Chargeable
@30%
[Column 5 ×
Column 4(5)
of Table at
s.no.
9(iii)(b)]
Chargeable
at applicable
rate
[Column 5 ×
Column 4(6)
of Table at
s.no.
9(iii)(b)]
„Dividend‟
[referred to in
Section 115-
O]*[Column 5
×
Column 4(1)
of Table at
s.no. 9(iii)(c)]
Others
[Column
5 ×
Column
4(2) of
Table at
s.no. 9
(iii)(c)]
(Please
specify
section if
taxed at
special
rate)
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(13)
(14)
*‘[referred to in Section 115O]’ shall be omitted with effect from the Assessment year 2021-2022.
(ii) there is loss in respect of units held for more than 12 months as per clause (b) of sub-section (2) of section
115UB :
S.
No.
Name of
Unit
Holder
Address
PAN/
AADHAAR
Total
Amount of
loss
paid/
credited/
Deemed to
be credited
Loss under the head „Long Term Capital Gains‟
Loss under the head „Short Term Capital Gains‟
Loss under
the head
„Other
Sources‟
[Column 5
×
Column
4(1) of
Table at
s.no.
11(ii)]
Chargeable
@10% u/s
112A
[Column 5 ×
Column 4(1)
of Table at
s.no. 11(i)]
Chargeable
@10% (other
than section
112A)
[Column 5 ×
Column 4(2)
of Table at
s.no. 11(i)]
Chargeable
@20%
[Column 5 ×
Column 4(3)
of Table at
s.no. 11(i)]
Chargeable
@15% u/s
111A
[Column 5 ×
Column 4(4)
of Table at
s.no. 11(i)]
Chargeable
@30% u/s
[Column 5 ×
Column 4(5)
of Table at
s.no. 11(i)]
Chargeable at
applicable
rate
[Column 5 ×
Column 4(6)
of Table at
s.no. 11(i)]
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
(iii) there is deemed loss as on 31st March, 2019 in terms of clause (i) of sub-section (2A) of section 115UB#:
Assessment year*
S.
No.
Name
of Unit
Holder
Address
PAN/
AADHAAR
Loss under the head „Long Term
Capital Gains‟
Loss under the head „Short
Term Capital Gains‟
Total
(1)
(2)
(3)
(4)
(5)
(6)
(7)
#
Point (iii) above shall be omitted with effect from the Assessment Year 2020-2021.
* To be filled separately for each assessment year (2016-2017, 2017-2018, 2018-2019 and 2019-2020).
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 sub-section (6) of section 115UB].
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.
[भाग II—खण् ड 3(i)]
भारत का राजपत्र : असाधारण
15
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 sub-section (6) of section 115UB] 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” shall have the same meaning as assigned to it 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.”.
[Notification No. 55/2020/ F. No.142/22/2015-TPL]
NEHA SAHAY, Under Secy. (Tax Policy and Legislation Division)
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
464(E) dated the 24th July, 2020.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.
