Rule 276: Form No. 173 statement by an eligible investment fund
Rule 276 prescribes the statement an eligible investment fund must give under paragraph 1(4) of Schedule I to the Act. It is filed for every financial year in Form No. 173, electronically under digital signature and verified as indicated in the form, to the Assessing Officer who has, or would have had, jurisdiction over the fund.
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Bare law
Rule 276 - Statement to be furnished by eligible investment fund under section 9(12) read with Schedule I to the Act
(1) The statement required under paragraph 1(4) of Schedule I to the Act shall be furnished to the Assessing Officer electronically under digital signature, for every financial year by the eligible investment fund in Form No. 173, duly verified in the manner indicated therein.
(2) The Assessing Officer referred to in sub-rule (1) shall be the Assessing Officer who has the jurisdiction over the fund or would have had the jurisdiction had the fund been assessable to tax in India but for the provisions of section 9(12).
Rule breakdown
What to file
Form No. 173 for every financial year.
Electronically under digital signature.
Verified in the manner indicated in the form.
To whom
The Assessing Officer with jurisdiction over the fund, or who would have had jurisdiction had the fund been assessable in India but for section 9(12).
Key takeaways
Form No. 173
The prescribed annual statement.
Digital signature
Filed electronically under digital signature.
Jurisdiction
Notional jurisdiction applies where the fund is not otherwise assessable.
Practical checklist
- Keep a valid digital signature certificate for the signatory.
Avoid
- Do not skip a year; the statement is required for every financial year.
FAQs
Which form does an eligible investment fund file?
Form No. 173 (Rule 276(1)).
How often?
For every financial year.
Which Assessing Officer receives it?
The one with jurisdiction over the fund, or who would have had jurisdiction but for section 9(12) (Rule 276(2)).
Glossary
- Eligible investment fund
- A fund within section 9(12) read with Schedule I.
- Form No. 173
- The statement under paragraph 1(4) of Schedule I.