FATCA CRS KAHANI

[Meetesh Shiroya]

Dear Professional,

Form 61A is a filing requirement under Rule 114E(1) of the Income Tax Rules. It deals with "Statement of Financial Transaction"

http://incometaxindia.gov.in/Rules/Income-Tax%20Rules/103120000000007545.htm


Form 61B flows from Rules 114G(8) and deals with FATCA/ CRS reporting
http://www.incometaxindia.gov.in/Rules/Income-Tax%20Rules/ITR114g.htm


There is no mention of Nil Return in Rule 114E. So, filing of Nil return of 61A seems to not required.

But, As per 114G(8), we need to file Nil returns. So, filing 61B Nil return is compulsory.

And Attached Screen Shot for reference may be helpful to you, for filing purpose.

Thanks & Regards,
CS Meetesh Shiroya

Whatsapp : 95865 47148

Blog : http://csmeetesh.blogspot.in/