Statement of payments reporting required: film producers must disclose payments over the statutory threshold to tax authorities within prescribed time. Producers of cinematographic films must submit to the tax authorities a statement, in the prescribed form, of all aggregate payments to persons engaged in production that exceed the statutory threshold, within 30 days from the end of the financial year in which production occurs or within 30 days of film completion, whichever is earlier, to enable payee identification and control inflation of production expenditure.
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Provisions expressly mentioned in the judgment/order text.
Statement of payments reporting required: film producers must disclose payments over the statutory threshold to tax authorities within prescribed time.
Producers of cinematographic films must submit to the tax authorities a statement, in the prescribed form, of all aggregate payments to persons engaged in production that exceed the statutory threshold, within 30 days from the end of the financial year in which production occurs or within 30 days of film completion, whichever is earlier, to enable payee identification and control inflation of production expenditure.
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