TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Guidance for implementing Rules 114F-114H and Form 61B for CRS and FATCA account reporting, due diligence timelines</h1> Guidance explains implementation of Rules 114F-114H and Form 61B under the Income-tax Rules to operationalize automatic exchange of financial account information (CRS and FATCA/IGA). It defines Reporting Financial Institutions, financial and reportable accounts, exclusions, and due-diligence procedures for new and pre-existing individual and entity accounts with specified thresholds and timelines (notably 2014-2018 phases). RFIs must collect self-certifications, identify controlling persons of passive NFEs, report prescribed account and payment data electronically (Form 61B) to the tax authority, obtain GIIN where applicable, and comply with penalties and regulator oversight for late, inaccurate or non-compliant reporting.
TaxTMI 
TaxTMI 
