https://www.taxtmi.com/news?id=15418 Implementation of FATCA and the Common Reporting Standard is effected by an Inter Governmental Agreement and India's accession to the multilateral agreement, with domestic amendments to the Income-tax Act and Rules introducing Rules 114F-114H and a prescribed reporting form to require Reporting Financial Institutions to identify, maintain and report information on reportable accounts; a Guidance Note was issued and subsequently updated to assist RFIs in complying with due diligence and reporting procedures. en-us Fri, 01 Jan 2016 09:40:39 +0530 Fri, 01 Jan 2016 09:40:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15418 Implementation of FATCA and the Common Reporting Standard is effected by an Inter Governmental Agreement and India's accession to the multilateral agreement, with domestic amendments to the Income-tax Act and Rules introducing Rules 114F-114H and a prescribed reporting form to require Reporting Financial Institutions to identify, maintain and report information on reportable accounts; a Guidance Note was issued and subsequently updated to assist RFIs in complying with due diligence and reporting procedures. News - Fri, 01 Jan 2016 09:40:39 +0530 https://www.taxtmi.com/news?id=15418