https://www.taxtmi.com/notifications?id=105729 Insertion of rule 21AC requires an authorisation in Form No.10FC for payments to financial institutions in notified jurisdictional areas, with the first copy deposited with the financial institution and a second copy plus evidence submitted to the Assessing Officer; the authorisation must be made legally enforceable and includes an irrevocable waiver of data protection and banking secrecy. For transactions with specified persons in notified areas the assessee must maintain ownership structure, multinational group profile, business description and other relevant documents up to the return filing date and retain them for eight years. en-us Wed, 26 Jun 2013 00:00:00 +0530 Fri, 28 Jun 2013 15:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=105729 Insertion of rule 21AC requires an authorisation in Form No.10FC for payments to financial institutions in notified jurisdictional areas, with the first copy deposited with the financial institution and a second copy plus evidence submitted to the Assessing Officer; the authorisation must be made legally enforceable and includes an irrevocable waiver of data protection and banking secrecy. For transactions with specified persons in notified areas the assessee must maintain ownership structure, multinational group profile, business description and other relevant documents up to the return filing date and retain them for eight years. Notifications Income Tax Wed, 26 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/notifications?id=105729