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TMI BlogBased on comments and feedback received, the Guidance Note for implementation of Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) updatedX X X X Extracts X X X X X X X X Extracts X X X X ..... Based on comments and feedback received, the Guidance Note for implementation of Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) updated - News and Press Release Dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... :- 1-1-2016 - News - 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 Mul ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tilateral 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... been 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 ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... RFIs) for maintaining 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rules 114F to 114H 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 t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Income-tax website http://www.incometaxindia.gov.in . - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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