CA Final · Direct Tax Laws & International Taxation · Capital Gains
Under Rule 285 of the Income-tax Rules, 2026, a specified fund must furnish its annual statement of exempt income in Form No. 178. Which of the following is correct about the certification of that statement?
The statement must be certified by an accountant, who furnishes Form No. 179 electronically with digital signature by the specified date. That date is one month before the due date for filing Form No. 178, so certification must precede the filing deadline.
- AIt must be certified by an accountant, who furnishes Form No. 179 electronically before the specified date, being one month prior to the due dateCorrect
- BIt need not be certified if the fund has only non-resident unit holders
- CIt must be certified by an accountant after the due date for filing Form No. 178
- DThe accountant files Form No. 179 on the due date itself, with no earlier deadline
Explanation
Rule 285(3) requires the annual statement to be certified by an accountant (as defined in section 515(3)(b)) before the specified date, and the accountant furnishes Form No. 179 electronically under digital signature by that date. Rule 285(4)(e) defines the specified date as one month prior to the due date. Thus certification precedes the filing due date, and there is no exemption from it.
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