Submission of statements by producers of films [Section 285B] :

Any person who carries on the production of a cinematograph film during the whole or any part of any financial year is under a statutory obligation, in respect of the period during which such production is carried on by him during the financial year to prepare and deliver or caused to be delivered to the Assessing Officer within 30 days from the end of the financial year or within 30 days from the date of completion of the production of the film, whichever is earlier, a detailed statement in the prescribed form containing the particulars of all the payments exceeding Rs 50,000 in the aggregate made by him or due from him to each person who is was engaged in the production of the firm.