Section 285B of the Income Tax Act, 1961, mandates producers of cinematograph films and persons engaged in specified activities to submit detailed statements of payments exceeding ₹50,000. Rule 121A prescribes the procedural framework for compliance.
1. Who Must File?
- Producers of cinematograph films(movies, documentaries, etc.).
- Persons engaged in specified activities, including:
- Event management
- Sports event management
- Documentary production
- Production of TV/OTT programs
- Other performing arts or government-notified activities .
2. Form and Deadline
- Form 52A: Must be filed electronicallyfor each financial year .
- Deadline: Within 60 daysfrom the end of the previous year (e.g., by May 30 for FY 2024-25) .
3. Key Details Required
Form 52A includes two parts:
- Part-A:
- Name/nature of film/activity (e.g., celluloid film, OTT production).
- Dates of commencement/completion .
- Part-B:
- Payments >₹50,000 to each person (e.g., actors, technicians).
- PAN/Aadhaar of payees, payment mode (cash/non-cash), and TDS details .
4. Submission Process
- Electronic Filing:
- Via digital signature(if ITR requires it) or
- Electronic Verification Code (EVC).
- Authority: Submitted to the Principal DGIT (Systems)or authorized officers .
5. Penalties for Non-Compliance
- Failure to file may attract scrutiny and penalties under general IT provisions (though Section 285B doesn’t specify a separate penalty) .
Example: A film producer who pays ₹60,000 in cash to a scriptwriter must report this in Form 52A, including the payee’s PAN and TDS details
