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of <h1>New Rule 12C: Venture Capital Funds Must Submit Verified Income Statement by November 30.</h1> The Income-tax (Fifteenth Amendment) Rules, 2000, effective from its publication date, amend the Income-tax Rules, 1962. A new rule, 12C, is introduced, requiring Venture Capital Companies or Funds to submit a statement of distributed income by November 30 of the financial year following the distribution. This statement, in Form No. 64, must be verified by an accountant and submitted to the relevant tax authority. The form includes details such as the company's name, PAN, income from investments, and distribution details. Additional documentation, including registration and audited accounts, must accompany the statement.
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