TMI BlogInformation to be maintained and reportedX X X X Extracts X X X X X X X X Extracts X X X X ..... s identified as having one or more controlling persons that is a reportable person,- (i) the name and address of the entity, taxpayer identification number assigned to the entity by the country or territory of its residence; and (ii) the name, address, date and place of birth of each such controlling person and taxpayer identification number assigned to such controlling person by the country or territory of his residence; (c) the account number (or functional equivalent in the absence of an account number); (d) the account balance or value (including, in the case of a cash value insurance contract or annuity contract, the cash value or surrender value) at the end of relevant calendar year or, if the account was closed during suc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be reported,- (i) with respect to calendar year 2014, is the information referred to in clauses (a), (b), (c) and (d), with regard to U.S. reportable accounts; (ii) with respect to calendar year 2015, is the information referred to in clauses (a), (b), (c), (d), (f), (g), (h) and sub-clause (i) of clause (e), with regard to U.S. reportable accounts; (iii) with respect to calendar year 2016, is the information referred to in clauses (a) to (h), with regard to all reportable accounts; (iv) with respect to calendar year 2017 and subsequent years, is the information referred to in clauses (a) to (g), with regard to all reportable accounts: Provided further that with respect to each U.S. reportable account which is maintained ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... here the person is a resident of more than one country or territory outside India under the tax laws of such country or territory, the reporting financial institution shall maintain the taxpayer identification number in respect of each such country or territory. (4) Notwithstanding anything contained in sub-rule (1), with respect to each reportable account which is a pre-existing account, the taxpayer identification number or date of birth is not required to be reported if such taxpayer identification number or date of birth is not in the records of the reporting financial institution: Provided that the reporting financial institution shall obtain the taxpayer identification number and date of birth with respect to pre-existing acco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wing that year: Provided that the statement pertaining to calendar year 2014 shall be furnished by the 31st day of August, 2015. (9) (a) The statement referred to in sub-rule (7) shall be furnished to the Director of Income-tax (Intelligence and Criminal Investigation) or the Joint Director of Income-tax (Intelligence and Criminal Investigation) through online transmission of electronic data to a server designated for this purpose under the digital signature in accordance with the data structure specified in this regard by the Principal Director General of Income-tax (Systems). Explanation.-For the purposes of this sub-rule, digital signature means a digital signature issued by any Certifying Authority authorised to issue such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Managing Director or a whole-time Director, as defined in the Companies Act, 2013 (18 of 2013), duly authorised by the Board of Directors if the reporting financial institution is a company; (ii) the managing partner if the reporting financial institution is a partnership firm; (iii) the proprietor if the reporting financial institution is a proprietorship concern; (iv) the managing trustee if the reporting financial institution is a trust; (v) a person or individual, as the case may be, who controls and manages the affairs of the reporting financial institution if the reporting financial institution is an association of persons or a body of individuals, or any other person; (b) Principal Officer means an officer designa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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