Form 75 Income Tax Rules 2026 pdf download and Key points
Form 75 Income Tax Rules 2026 pdf download and Key points
FORM NO. 75
[See rule 145]
Statement of income paid or credited by Venture Capital Company or Venture Capital Fund to be provided to the person who is liable to tax under section 222
Under the Income-tax Rules, 2026, Form No. 75 is a newly introduced statutory form titled the “Statement of income paid or credited by Venture Capital Company or Venture Capital Fund to Investor” (or to the person liable to tax under section 222).
Unlike the old 1962 rules where no specific format for this was notified, Form 75 is now formally governed by Section 222 of the Income-tax Act, 2025, and Rule 145 of the Income-tax Rules, 2026.
Here are all the comprehensive key points regarding Form No. 75:
1. Purpose of the Form Form 75 acts as an investor-specific “child form” derived from the consolidated “parent form” (Form No. 74) filed by a Venture Capital Company (VCC) or Venture Capital Fund (VCF). Its purpose is to provide individual investors with a detailed, head-wise breakup of the pass-through income paid, credited, or deemed to be credited to them by the fund.
2. Applicability (Who Prepares and Receives It)
- Preparation: Form 75 is not filled out from scratch or filed directly with the Income Tax Department. The VCC or VCF generates and downloads this form from the e-filing portal after successfully filing Form 74.
- Recipient: The form is then provided by the VCC/VCF to each individual investor (unit holder) who is liable to pay tax on that distributed income.
3. Frequency and Due Date
- Frequency: It is an annual statement covering the relevant tax year.
- Due Date: The VCC or VCF must distribute Form 75 to the respective investors by 30th June of the financial year immediately following the tax year in which the income was paid or credited.
4. How it is Generated (Process Flow)
- Auto-Generation: Form 75 is automatically generated by the Income Tax Department’s system based entirely on the investor-wise data the fund submitted in Form 74.
- No Offline Mode: It cannot be filled offline. No separate documents or attachments are required to generate it, as it relies on the parent form’s data.
5. Structure and Contents of the Form The form is systematically structured to give the investor everything they need for their tax return:
- Part A (Particulars of the Investor & Fund): Captures the Investor’s Name, complete Address, PAN, Email ID, and Contact Number, along with the Name and PAN of the VCC/VCF.
- Part B (Income Details Table): Captures the core financial data, explicitly including:
- The total amount paid, credited, or deemed to be credited.
- The exact date of payment or credit.
- The strict classification of income broken down into heads: Long Term Capital Gain, Short Term Capital Gain, Dividend, and Others.
- Crucially, it provides specific standardized tax codes for capital gains to ensure correct tax rate application.
- Declaration: A signed declaration by the authorized person of the VCC/VCF verifying the information.
6. Outcome and Benefits for the Investor
- Preservation of Character: The income reported in Form 75 is taxable in the hands of the investor exactly as if they had made the direct investment into the Venture Capital Undertaking themselves.
- Accurate ITR Filing: Because the form clearly breaks down the income heads and includes specific codes, investors can directly and accurately report this data in Schedule PTI (Pass Through Income) of their Income Tax Returns (ITR-2, 3, 5, 6, or 7). This eliminates previous challenges where investors misreported income due to complex classifications.
1. What is Form 75?
Ans: Form 75 is a statement of income paid or credited to a person who is liable to tax u/s 222 of the Act. The said statement is to be provided by the Venture Capital Fund or Venture Capital Company to such person.
2: Who should file Form 75?
Ans: Form 75 is not to be filed separately. It is a child form of Form No. 74, which is the parent Form. The Venture Capital Fund or Venture Capital Company has to generate and download this form after filing Form No. 74. The form is to be generated for each investor by the Venture Capital Fund or Company and then it is to be furnished to each investor.
3: What is the time limit for filing Form 75?
Ans: Form 75 must be provided to the person liable to tax by the Venture Capital Company or Fund by 30th June of the financial year to immediately following the tax year in which income was paid or credited by the Venture Capital Fund or Company.
4: Can Form 75 be filled up offline?
Ans: No. Form 75 is automatically generated from the data filed in Form 74 through the efiling portal specified by the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems). No separate documents need to be attached to Form 75 as it is a statement derived from the parent Form 74.
5: What documents are required to file Form 75?
Ans: This Form is generated from the parent Form 74 so no separate document is required.
6: Why is Form 75 important?
Ans: Generating and providing Form 75 to the persons liable to tax within the due date is a mandatory compliance requirement of the Venture Capital Company or Fund. In case of persons liable to tax, who are investors, the form is important because-
• Income reported in Form 75 is taxable in the hands of investors as if they had made direct investments in the Venture Capital Undertaking (pass-through status).
• Investors receive income classification (capital gains, dividend, other income) which they must report in their respective Income Tax Returns (ITR-2, ITR-3, ITR-5, ITR-6, or ITR-7) under Schedule PTI (Pass Through Income).
• The income retains its character and tax treatment in the hands of the investor as per Section 222 of the Income-tax Act, 2025.
Form 75 Income Tax Rules 2026 pdf download
Form No.75– Frequently Asked Questions
Guidance Note on Form 75
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