Form 79: Statement of income paid or credited by an investment fund under section 224
Source checked 21 October 2026 · Original author: Finin2min Editorial Desk
Purpose, person and period
Statement of income paid or credited by an investment fund under section 224.
The investment fund furnishes aggregate Form 79 with the required investor-wise and loss schedules; it provides matching individual Form 78 statements to unit holders.
Period gate: This numbered form belongs to the Income-tax Rules, 2026, effective 1 April 2026. The predecessor 64D is a concordance, not permission to change an earlier-year filing into a new-law form. For earlier periods, use the applicable 1961 Act form and saved procedure.
Controlling rule and source pages
Rule 145; Section 224. Physical PDF pp 535-541; printed Gazette pp 2067-2073.
Rule 145 — connected rule text
145. Statements under sections 221(4), 222(2), 223(5) and 224(9). — (1) The statement of income credited or paid or distributed by an entity as referred to in the column B of the following Table shall be furnished by the person responsible for crediting or paying or distributing such income on behalf of such entity to the Principal Commissioner or the Commissioner of Income -tax, within whose jurisdiction the principal office of such entity is situated, electronically in the Form No. mentioned in the column C, duly verified by an accountant, as defined in section 515(3)(b), in the manner indicated therein; and to the recipient of such income mentioned in column D in the Form No. mentioned in the column E of the said Table: [PDF PAGE 110] 1642 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] Table Sl. No. Type of entity Form for furnishing statement to Principal Commissioner or Commissioner of Income-tax Person to whom statement is to be furnished Form for furnishing statement to recipient of income A B C D E 1. Venture Capital Company or the Venture Capital Fund. 74. The person who is liable to tax in respect of such income. 75. 2. Business trust. 76. Unit holder. 77. 3. Investment fund. 79. The person who is liable to tax in respect of such income. 78. 4. Securitisation trust. 72. The person who is liable to tax in respect of such income. 73. (2) The statement to the Principal Commissioner or the Commissioner of Income -tax shall be furnished by the 15 th June of the financial year succeeding the tax year during which the income is paid or credited or distributed and the statement to the recipient of income shall be furnished by the 30 th June of the financial year succeeding the tax year during which the income is paid or credited or distributed. (3) The statement to the recipient of income shall be furnished after generating and downloading the same from the web portal specified by the Director General of Income -tax (Systems) or the person authorised b y him and duly verified by the person paying or crediting or distributing the income in the manner indicated therein.
Completed field illustration
Fictional data, not for filing. The investment fund underlying Form 78 has only positive capital-gain and dividend income; no offshore or loss adjustment is assumed.
| Form field / block | Completed fictional entry |
|---|---|
| Part A: fund / PAN / status / address / contact | Example Alternative Investment Fund / synthetic ZZZTE0000Z / trust / 10 Model Road, Pune / fund@example.invalid, +91 0000000000 |
| TY / trustees / registration | 2026-27 / model trustee role / assumed Category II SEBI AIF registration MODEL-AIF-079, not an actual certificate |
| Rows 10-11: total and head-wise income | Rs 15,00,000: LTCG Rs 10,00,000, dividend Rs 5,00,000; business, STCG, other income nil |
| Row 11: loss set-off / offshore exclusions | Nil / nil, all scenario units and income assumed within the reported scope |
| Rows 12-13 / 15-16: losses | All nil, including historical 31 March 2019 and current losses |
| Row 14: API / LTCG code / proportion / dividend proportion | Rs 15,00,000 / code 2, assumed qualifying gain / 66.6667% / 33.3333%; use exact 2/3 and 1/3 in arithmetic |
| Row 17: first investor / amount / date / character | Priya Arun Sharma, synthetic ZZZPS0000Z / Rs 3,00,000 / 31 March 2027 / LTCG Rs 2,00,000, dividend Rs 1,00,000 |
| Remaining investors aggregate | Rs 12,00,000: LTCG Rs 8,00,000 and dividends Rs 4,00,000; complete real filing needs each recipient row |
| Enclosures / declaration / accountant verification | Model registration and accounts references / NOT SIGNED; no professional report issued |
This illustrates the named fields, not every possible schedule. Use the complete official extract for additional applicable fields, annexures and verification. “Not signed” means no professional certification or authority action has occurred.
Reconcile the example
- 10,00,000+5,00,000 = API 15,00,000.
- 3,00,000×2/3 = 2,00,000; ×1/3 = 1,00,000.
- Allocated income 3,00,000+12,00,000 = 15,00,000; the first recipient matches Form 78.
Do not pass a business loss or an ineligible short-holding loss through merely because it exists in accounts. This positive-income example assumes the applicable section 224 conditions; the source contains separate loss schedules for real cases.
Prepare, furnish and retain
- Use the form identity and period above, then determine the person who prepares, issues or verifies it from Rule 145. An authority-issued order is not an applicant filing.
- Collect the records that support the actual fields in the example; keep any mandatory schedules and annexures specified in the complete source form.
- Reconcile dates, amounts, units and identifiers to the underlying records. Preserve the applicable rule version and any later correcting notification.
- Where the rule prescribes electronic furnishing, use the current official utility/schema and authorised verification. A local PDF does not produce a portal acknowledgement.
- Retain the submitted version, supporting schedules and actual acknowledgement or issued certificate/order, as applicable. This fictional model supplies none of those evidential outcomes.
Download the correct documents
Official Form 79 source extract Filled sample — fictional field illustration
The official extract preserves source pages; later amendments are supplied with affected forms. Read the April corrigendum where its printed-page corrections apply. The filled field illustration is an educational model and cannot be filed.
Primary sources
Questions readers ask
Does this sample prove approval, filing or a professional conclusion?
No. It completes the named fields using synthetic facts. It has no real signature, DSC, approval or acknowledgement.
Can I use the legacy form number for a current tax-year obligation?
Establish the governing period first. A predecessor number is a cross-reference; earlier-year procedures and current-year forms must be kept distinct.