https://www.taxtmi.com/news?id=15427 Guidance prescribes how Indian Reporting Financial Institutions must identify Financial Accounts and Reportable Accounts, apply tiered due diligence for new and pre existing individual and entity accounts (including look through to Controlling Persons of passive NFEs), and report specified information on Form 61B to the Income tax Department. It sets definitions for FI categories, Excluded Accounts, aggregation and thresholds, timelines for review and phased reporting under FATCA and CRS, filing procedures, and compliance and penalty provisions. en-us Mon, 04 Jan 2016 18:55:25 +0530 Wed, 11 Feb 2026 15:56:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15427 Guidance prescribes how Indian Reporting Financial Institutions must identify Financial Accounts and Reportable Accounts, apply tiered due diligence for new and pre existing individual and entity accounts (including look through to Controlling Persons of passive NFEs), and report specified information on Form 61B to the Income tax Department. It sets definitions for FI categories, Excluded Accounts, aggregation and thresholds, timelines for review and phased reporting under FATCA and CRS, filing procedures, and compliance and penalty provisions. News - Mon, 04 Jan 2016 18:55:25 +0530 https://www.taxtmi.com/news?id=15427