TaxTMI 
TaxTMI 
Based on comments and feedback received, the Guidance Note for implementation of Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) updated
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....ased on comments and feedback received, the Guidance Note for implementation of Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) updated <br>News and Press Release<br>Dat....
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....ed:- 1-1-2016<br><BR>An Inter-Governmental Agreement between India and USA was signed for implementation of Foreign Account Tax Compliance Act (FATCA). The Government of India has also joined the Mult....
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....ilateral Competent Authority Agreement (MCAA) for Automatic Exchange of Information as per Common Reporting Standard (CRS). For implementation of FATCA and CRS, necessary legislative changes have be....
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....en made in the Income-tax Act, 1961 and Income-tax Rules, 1962. Rules 114F, 114G & 114H and Form 61B have been inserted to provide legal basis for the Reporting Financial Institutions (RFIs) for maint....
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....aining and reporting information about the Reportable Accounts. A Guidance Note was released on 31st August 2015 for ensuring compliance with the reporting requirements provided in Rules 114F to 114....
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....H and Form 61B of the Income-tax Rules, 1962. Based on comments and feedback received, this Guidance Note has been updated on 31st December 2015. The same has been placed on the Income-tax website htt....
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....p://www.incometaxindia.gov.in.<BR> News - Press release - PIB....