New IT Act 2025 — Knowledge Bank

Statements under sections 221(4), 222(2), 223(5) and 224(9)

Rule 145 — Statements under sections 221(4), 222(2), 223(5) and 224(9)

Parent Act Section(s): Section 515

Full Text

  1. Statements under sections 221(4), 222(2), 223(5) and 224(9).— (1) The statement of income credited or paid or distributed by an entity as referred to in the column B of the following Table shall be furnished by the person responsible for crediting or paying or distributing such income on behalf of such entity to the Principal Commissioner or the Commissioner of Income-tax, within whose jurisdiction the principal office of such entity is situated, electronically in the Form No. mentioned in the column C, duly verified by an accountant, as defined in section 515(3)(b), in the manner indicated therein; and to the recipient of such income mentioned in column D in the Form No. mentioned in the column E of the said Table:

Table Sl. Type of entity Form for Person to whom statement is to be Form for No. furnishing furnished furnishing statement to statement to Principal recipient of Commissioner or income Commissioner of Income-tax A B C D E

  1. Venture Capital 74. The person who is liable to tax in 75. Company or the respect of such income. Venture Capital Fund.
  2. Business trust. 76. Unit holder. 77.
  3. Investment fund. 79. The person who is liable to tax in 78. respect of such income.
  4. Securitisation trust. 72. The person who is liable to tax in 73. respect of such income. (2) The statement to the Principal Commissioner or the Commissioner of Income-tax shall be furnished by the 15th June of the financial year succeeding the tax year during which the income is paid or credited or distributed and the statement to the recipient of income shall be furnished by the 30th June of the financial year succeeding the tax year during which the income is paid or credited or distributed. (3) The statement to the recipient of income shall be furnished after generating and downloading the same from the web portal specified by the Director General of Income-tax (Systems) or the person authorised by him and duly verified by the person paying or crediting or distributing the income in the manner indicated therein.

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