Section 507 — Statement re Cinematograph Film | ITA 2025

Section 507 of the Income-tax Act, 2025 corresponds to s. 285 B of the Income-tax Act, 1961. STATUTORY ARCHITECTURE Producer of cinematograph film to file particulars of payments > INR 50,000 to artists, technicians etc within 60 days…

Section 507 — - STATEMENT RE CINEMATOGRAPH FILM

Section 507 of the Income-tax Act, 2025 corresponds to s. 285B of the Income-tax Act, 1961.

Statutory text — Income-tax Act, 2025

( 1) Any person carrying on the production of a cinematograph film or e ngaged in any specified activity, or both, during the whole or any part of any tax year shall, furnish within such period, a statement in such form and in such manner, to the prescribed income-tax authority as may be prescribed.

(2) The statement referred in sub-section (1) shall contain particulars of all payments of over ` 50000 in the aggregate made by him or due from him to each such person as is engaged by him in such production or specified activity.

(3) For the purposes of this section, the expression “specified activity” means any event management, documentary production, production of programmes for telecasting on television or over the top platforms or any other similar platform, sports event management, other performing arts or any other activity as the Central Government may, by notification, specify. Obligation to furnish statement of financial transaction or reportable account.

STATUTORY ARCHITECTURE

Producer of cinematograph film to file particulars of payments > INR 50,000 to artists, technicians etc within 60 days of completion.

PRACTITIONER PLANNING NOTES

Form 52A; targets film industry cash-economy.

CROSS-REFERENCES

s. 533 [295] -- Rules.
s. 535 [298] -- Removal of difficulty.
s. 536 [Repeal] -- Saving clause.

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INCOME-TAX ACT, 2025	INCOME-TAX ACT, 1961
2025 provision	1961 counterpart
s. 507 -- Statement re Cinematograph Film	s. 285B