https://www.taxtmi.com/news?id=15669 Reporting must be submitted in Indian rupee for the immediate reporting cycles and Form 61B will be modified to capture currency type. Fixed deposits opened without additional documentation may be treated as pre-existing accounts if linked to a savings account meeting specified cut-offs, due diligence on the savings account is complete or underway, and the accounts are treated as linked. Local sub-custodians must perform due diligence on global custodian end-clients but may rely on global custodian KYC/FATCA/CRS documentation; the local custodian retains reporting obligations. HUF accounts are treated as entity accounts; NBFCs are classified by activity for reporting. Registration and reporting procedures are being revised. en-us Fri, 19 Feb 2016 13:15:26 +0530 Fri, 19 Feb 2016 13:15:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15669 Reporting must be submitted in Indian rupee for the immediate reporting cycles and Form 61B will be modified to capture currency type. Fixed deposits opened without additional documentation may be treated as pre-existing accounts if linked to a savings account meeting specified cut-offs, due diligence on the savings account is complete or underway, and the accounts are treated as linked. Local sub-custodians must perform due diligence on global custodian end-clients but may rely on global custodian KYC/FATCA/CRS documentation; the local custodian retains reporting obligations. HUF accounts are treated as entity accounts; NBFCs are classified by activity for reporting. Registration and reporting procedures are being revised. News - Fri, 19 Feb 2016 13:15:26 +0530 https://www.taxtmi.com/news?id=15669