https://www.taxtmi.com/article/detailed?id=11861 Amendments require the principal officer of a reporting entity to be a management level officer whose name, designation and address are communicated to the Director, and to furnish information under the Rules. Client due diligence is tightened by lowering the ownership/control threshold for identifying beneficial owners in companies and partnerships, requiring trustees to disclose status at account commencement or specified transactions, and mandating that the analysis and determination of beneficial owners be recorded and maintained. Reporting entities must verify clients and beneficial owners under section 11A, with specified entities permitted to perform Aadhaar authentication for that purpose. en-us Mon, 18 Sep 2023 16:32:11 +0530 Mon, 18 Sep 2023 16:32:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11861 Amendments require the principal officer of a reporting entity to be a management level officer whose name, designation and address are communicated to the Director, and to furnish information under the Rules. Client due diligence is tightened by lowering the ownership/control threshold for identifying beneficial owners in companies and partnerships, requiring trustees to disclose status at account commencement or specified transactions, and mandating that the analysis and determination of beneficial owners be recorded and maintained. Reporting entities must verify clients and beneficial owners under section 11A, with specified entities permitted to perform Aadhaar authentication for that purpose. Articles Income Tax Mon, 18 Sep 2023 16:32:11 +0530 https://www.taxtmi.com/article/detailed?id=11861