TaxTMI 
TaxTMI 
Procedure for registration and submission of report as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with Sub rule (7) of Rule 114G of Income-tax Rules, 1962:
X X X X Extracts X X X X
X X X X Extracts X X X X
....enting appropriate security, archival and retrieval policies. 2. In exercise of the powers delegated by Central Board of Direct Taxes ('Board') under Sub rule (9)(a) and 9(b) of Rule 114G of the Income tax Rules 1962, the Principal Director General of Income-tax (Systems) hereby lays down the procedures, data structure and standards for ensuring secure capture and transmission of data, evolving and implementing appropriate security, archival and retrieval policies as under: a) Registration of the reporting financial institution: The reporting financial institution is required to get registered with the Income Tax Department by logging in to the e-filing website with the log in ID used for the purpose of filing the Income Tax Return of the reporting financial institution. A link to register reporting financial institution has been provided under "My Account". The reporting financial institution is required to submit registration details on the screen. A reporting financial institution may submit different registration information under different reporting financial institution categories. Once registered, the reporting entity will have an option to deregister. ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....gory Insert 2 character code A.2 STATEMENT DETAILS A.2.1 Statement Type Insert 2 character code A.2.2 Statement Number A.2.3 Original Statement Id A.2.4 Reason for Correction Insert 1 character code A.2.5 Statement Date A.2.6 Reporting Period A.2.7 Report Type Insert character code A.2.8 Number of Reports A.3 PRINCIPAL OFFICER DETAILS A.3.1 Principal Officer Name A.3.2 Principal Officer Designation A.3.3 Principal Officer Address A.3.4 City/Town A.3.5 Postal Code A.3.6 State Code A.3.7 Country Code Insert 2 character code Insert 2 character code A.3.8 Telephone A.3.9 Mobile A.3.10 Fax A.3.11 Email 42 B.1 PART B: REPORT DETAILS (This information should be provided for each Account being reported) ACCOUNT DETAILS (To be provided for each account being reported) Report Serial Number B.1.1 B.1.2 Original Report Serial Number B.1.3 Account Type Insert 2 character code B.1.4 Account Number B.1.5 Account Number Type Insert 1 character code B.1.6 Account Holder Name B.1.7 Account Status....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Type for US Reportable Person Insert 2 character code Account Holder Type for Other B.5.4 Insert 2 character code Reportable Person B.5.5 Entity Constitution Type Insert 1 character code B.5.6 Date of Incorporation B.5.7 Nature of Business B.5.8 PAN B.5.9 Identification Type Insert 1 character code B.5.10 Identification No. B.5.11 Identification issuing Country Insert 2 character code B.5.12 Place of Incorporation B.5.13 Country of Incorporation Insert 2 character code B.5.14 Country of Residence as per tax laws Insert 2 character code B.5.15 Tax Identification Number (TIN) allotted by tax resident country B.5.16 TIN Issuing Country B.5.17 Address Type Insert 2 character code Insert 1 character code B.5.18 Address B.5.19 City/Town B.5.20 Postal Code B.5.21 State Code B.5.22 Country Code B.5.23 Mobile/Telephone Number B.5.24 Other Contact Number B.5.25 Remarks 45 Insert 2 character code Insert 2 character code B.6 CONTROLLING PERSON DETAILS (To be provided for each controlling person of the entity) B....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ITDREIN is the Unique ID issued by ITD which will be communicated by ITD after the registration of the reporting entity with ITD. The ITDREIN is a 16-character identification number in the format XXXXXXXXXX.YYYYY where XXXXXXXXXX is the PAN or TAN of the reporting entity and YYYYY is a sequentially generated number. The reporting Entity may use a dummy number (PAN+99999 or TAN+99999) till the ITDREIN is communicated. Requirement Validation Validation A.1.3 GIIN GIIN means the Global Intermediary Identification Number which is a 19-character identification number in the format XXXXXX.XXXXX.XX.XXX assigned to the reporting entity by USA. Validation A.1.4 Registration Number A.1.5 Reporting Entity Category This number is the registration number or any number used in correspondence with the regulator of the financial institution. Category of reporting entity are: • DI - Depository Institution • Cl- Custodial Institution Optional Validation • IE- Investment Entity • IC Specified Insurance Company OT- Other In case if a Reporting Entity is engaged in more than one....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... time when the Statement was compiled. This element will be automatically populated by the host system. The format for use is YYYY-MM-DD'T'hh:mm:ss. Fractions of seconds are not used. Example: 2015-03-15T09:45:30. Validation A.2.6 Reporting Period This identifies the last day of the reporting period in YYYY-MM-DD format. For example, if reporting information for the accounts or payments made in calendar year 2014, the field would read, “2014-12- 31" Validation A.2.7 Report Type Type of report in the Statement. One Statement can contain only one type of report. Permissible values are: Validation - 01 Report of US reportable accounts under Rule 114G 02 - Report of other reportable accounts under Rule 114G A.2.8 Number of Reports Number of Reports in Part B. Validation A.3.1 Principal Officer Name Name of the Principal Officer. Refer to the registration requirement under Income-tax Act and Rules Validation 2 S. No. A.3.2 Principal Officer Element Description Designation of the Principal Officer. Requirement Validation Designation A.3.3 Principal ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... • DB Beneficiary Client Account • DH - Beneficiary House Account DC - Clearing Member Pool Account • ZZ - Others • XX - Not Categorised 3 S. No. Element B.1.4 Account Number Description Provide the account number used by the financial institution to identify the account. If the financial institution does not have an account number then provide the functional equivalent unique identifier used by the financial institution to identify the account. Account number type. Permissible values are: Requirement Validation Validation B.1.5 Account Number Type • 01 - International Bank Account Number • - 02 Other Bank Account Number 03 - International Securities Information Number • 04 - Other Securities Information Number • 05 - Any other type of account information B.1.6 Account Holder Name B.1.7 Account Status B.1.8 Account Treatment Indian banks may use option 02 above. Name of first/sole account holder. Status of the account. Permissible values are: • • • • â€....
X X X X Extracts X X X X
X X X X Extracts X X X X
....the account. This could be the home or linked branch. Validation B.2.4 Branch Address Complete address consisting of house number, building name, street, locality, city, state etc. Validation B.2.5 City/Town Name of City, Town or Village Validation B.2.6 Postal Code In case of India, the 6 digit Pin code as per India Posts has to be mentioned. In case of countries outside India, respective code may be used. If Pin code is not available, use XXXXXX. Validation B.2.7 State Code The two digit state code has to be mentioned as per Indian Motor Vehicle Act 1988. If state code is not available, use XX. Validation B.2.8 Country Code The Country Code as per ISO 3166 has to be mentioned. Use IN for India. If Country Code is not available, use XX Validation B.2.9 Telephone Telephone number in format STD Code-Telephone number. (Example 0120-2894016) Optional B.2.10 Mobile B.2.11 Fax Contact Mobile number. Please do not add "0" before the number Optional Fax number in format STD Code-Telephone number. (Example 0120- 2894016) Optional B.2.12 Email E-mail of the Branch he....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Title of the person such as “His Excellencyâ€, “Estate of the lateâ€. Greeting title of the reported person such as Mr., Dr., Mrs., Herr etc. Can have multiple titles Optional* Optional* First Name First name of the person. In case if the first name is not available, no first name or NFN may be used here. Optional* Middle name Middle name (essential part of the name for many nationalities). Eg. Shakti in "Nivetha Shakti Shanthaâ€. Can have multiple middle names. Optional* Name prefix De, van, van de, von, etc. Example: Derick de Clarke Optional* Last Name Represents the position of the name in a name string. Optional* Can be Given name, Forename, Christian name, Surname, Family name etc. In case of a company, this field can be used for the company name. Generation Identifier Suffix The identifier of generation such as Jnr, Thr, III Optional* General Suffix Could be compressed initials such as: Phd, VC, QC Deceased, retired etc. Optional* Optional* Name Type It is possible for an individual or entity to have several names. This is a qualifier to indicate t....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Nationality B.4.14 Country of Residence as per tax laws B.4.15 Place of Birth 2 character Country Code (ISO 3166) This data element describes the tax residence country code(s) for the individual being reported upon and must be present in all data records. The Country Code as per ISO 3166 has to be mentioned. If the individual is certified or treated as tax resident in more than one jurisdiction then this element may be repeated. Place of Birth. City Sub entity City Sub entity of birth of birth 7 Validation Validation (Optional) Mandatory Optional* S. No. Element B.4.16 Country of Birth Description This data element describes the Country of birth for the individual. The Country Code as per ISO 3166 has to be mentioned. This information is mandatory for foreign national or non-resident. Former name of the country Requirement (Optional) Mandatory Former Country Name Optional* B.4.17 Foreign Tax Identification Number (TIN) allotted by tax This data element identifies the Tax Identification Number (TIN) used by the residence country of the reported account h....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ID B.5.3 Account Holder Type for US Reportable Person Description Customer ID/Number allotted by the reporting entity. This information is mandatory if Customer ID/Number is allotted. The permissible values are: • • F1-Owner-Documented Fl with specified US owner(s) F2 - Passive Non-Financial Entity with substantial US owner(s) • F3 - Non-Participating FFI • - F4 Specified US Person • F5 - Direct Reporting NFFE Requirement (Optional) Mandatory Validation B.5.4 Account for Other B.5.5 Holder Type Reportable Person Entity Constitution Type • XX-Not Applicable The permissible values are: Validation - one or more • C1- Passive Non-Financial Entity with controlling person that is a Reportable Person - Other Reportable Person • C2- • - C3 Passive Non-Financial Entity that is a CRS Reportable Validation • XX Not Applicable Permissible values are: A-Sole Proprietorship • • B - Partnership Firm • C - HUF • D - Private Limited Com....
X X X X Extracts X X X X
X X X X Extracts X X X X
....dividual Account Holder. In case if there is no TIN, provide functional equivalent. Mandatory (Optional) Mandatory (Optional) Mandatory resident country B.5.16 TIN Issuing Country* This attribute identifies the jurisdiction that issued the TIN. (Mandatory for Foreign national or Non Resident). The Country Code as per ISO 3166 has to be mentioned. (Optional) Mandatory B.5.17 Address Type Indicates the type of the address. Permissible values are: • 1- Residential Or Business • 2- Residential • 3 - Business ◠4 - Registered Office • 5- Unspecified B.5.18 Address Complete address consisting of house number, building name, street, locality, city, state etc. Validation Street Optional* Building Optional* Identifier Suite Identifier Optional* Floor Identifier Optional* District Name Optional* POB Optional* B.5.19 City/Town Name of City, Town or Village Validation B5.20 Postal Code In case of India, the 6 digit Pin code as per India Posts has to be mentioned. In case of countries outside India, respective c....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... name of the person. In case if the first name is not available, no first name or NFN may be used here. Optional* Middle name Name prefix Middle name (essential part of the name for many nationalities). Eg. Shakti in "Nivetha Shakti Shanthaâ€. Can have multiple middle names. De, van, van de, von, etc. Example: Derick de Clarke Optional* Optional* Last Name Represents the position of the name in a name string. Optional* Can be Given name, Forename, Christian name, Surname, Family name etc. In case of a company, this field can be used for the company name. Generation Identifier Suffix The identifier of generation such as Jnr, Thr, III Optional* General Suffix Could be compressed initials such as: Phd, VC, QC Deceased, retired etc. Optional* Optional* 11 S. No. Element Name Type Description It is possible for an individual or entity to have several names. This is a qualifier to indicate the type of a particular name. Such types include nick names ("nick"), names under which a party does business ("dba" a short name for the entity, or a name that is used for public acquaintance in....
X X X X Extracts X X X X
X X X X Extracts X X X X
....l data records. The Country Code as per ISO 3166 has to be mentioned. If the individual is certified or treated as tax resident in more than one jurisdiction then this element may be repeated. Requirement (Optional) Mandatory Validation Validation B.6.16 Place of Birth Place of Birth. (Optional) Mandatory City Sub entity City Sub entity of birth of birth Optional* B.6.17 Country of Birth This data element describes the Country of birth for the individual. The Country Code as per ISO 3166 has to be mentioned. (Optional) Mandatory Former Country Name This information is mandatory for foreign national or non-resident. Former name of the country Optional* B.6.18 Foreign Tax Identification Number (TIN) allotted by tax This data element identifies the Tax Identification Number (TIN) used by the residence country of the reported account holder to identify the Individual Account Holder. In case if there is no TIN, provide functional equivalent. (Optional) Mandatory resident This information is mandatory for foreign national or non-resident. country B.6.19 TIN ....