New Income Tax Bill Requires Film Producers to Report Payments Over 50K; Includes Event and TV Production.
Clause 507 of the Income Tax Bill, 2025 mandates that individuals involved in the production of cinematograph films or specified activities must submit a statement to the income-tax authority. This statement, required within a prescribed period, must detail all payments exceeding fifty thousand rupees made to or due from individuals engaged in such productions or activities. "Specified activity" includes event management, documentary production, television or OTT program production, sports event management, performing arts, or any other activity designated by the Central Government through notification.
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