Working of film circle, Bombay. - Income Tax - 1650/CBDT

INSTRUCTION NO. 1650/CBDT Dated: September 23, 1985 In their 91st Report the Public Accounts Committee have adversely commented upon the working of Film Circle, Bombay. It has been observed by them that despite the formation of a separate film circle, there is no proper co-ordination in the assessments under Direct Taxes Laws of film producers, distributors and film artists etc. 2. The above observation of the Public Accounts committee has been viewed by the Board with grave concern. The Board desire that not withstanding the inherent difficulties due to different accounting years, different systems of accounting etc. should be collected and made use of in the assessments. The Board would like to impress upon the officers that in the cases of producers, artists-wise and picture-wise details indicating the total amount of remuneration/fees payable to directors/artists as per agreement, the amount actually paid by cheque, through annuities or otherwise, dates of payments balance of amounts payable should be invariably obtained. Likewise in the cases of artists dates of contracts contract monies dates of release of pictures names of film producers particulars of annuities received and other vital data necessary for the assessments of such persons should invariably be obtained and made use in their assessments. There should always be an attempt for the co-relation of receipts and payment in respect of the accounts of the film producers and the accounts of payees to whom payments are shown by them.