Clarifications for implementation of FATCA and CRS

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..... to the consultations held with Financial Institutions (FIs) regarding implementation of FATCA and CRS, the following clarifications are issued. Obtaining Self-Certification 2.1 Financial institutions are in the process of carrying out the due diligence of financial accounts and obtaining self-certification from the account holders. Representatives of FIs have informed that there are large numb .....

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..... even from a person (resident for tax purposes in a country or territory outside India ) who may be eligible to obtain a TIN (or the functional equivalent) in his country or territory of residence, but has not yet obtained a TIN. However, in this case, FIs may note down this fact and seek TIN from the person after he obtains the same. Account Balance/value 4.1 As per Rules, account balance or v .....

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..... Income Tax (Systems) which is available on the website of Income tax Department www.incometaxindia.gov.in. 5.2 The Systems Directorate has also released a User Manual for Registration, Upload & View of Form 61 B which can be found on http://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Registration_Upload Form61Form61B_ Form15CC.pdf?0.5419367604612912 (Gaurav Sharma) Under Secretary, .....

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