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Incometax (15th Amendment) Rules, 2016
June, 23rd 2016
[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION
                            3, SUB-SECTION (ii)]

                                 GOVERNMENT OF INDIA
                                  MINISTRY OF FINANCE
                                DEPARTMENT OF REVENUE
                             CENTRAL BOARD OF DIRECT TAXES

                                         NOTIFICATION

                                                                     New Delhi, the 20th June, 2016

       S.O. 2151(E).-In exercise of the powers conferred by section 285BA read with section 295
of the Income-tax Act, 1961 (43 of 1961), the Central Government with respect to registration of
persons, due diligence and maintenance of information, and the Central Board of Direct Taxes
for matters relating to statement of reportable accounts, hereby make the following rules further
to amend the Income-tax Rules, 1962, namely:-

1. (1) These rules may be called the Income­tax (15th Amendment) Rules, 2016.
   (2) Save as otherwise provided in these rules, they shall come into force on the date of their
publication in the Official Gazette.

2. In the Income-tax Rules 1962 (hereafter referred to as the said rules) in rule 114F, in clause (6),
in the Explanation, in clause (D),-

   (a) in sub-clause (ii), for the word, brackets and figure "clause (3)", the words, brackets and
   figure "clause (3), which is not located in any of the jurisdictions specified by the Central
   Board of Direct Taxes in this behalf" shall be substituted;

   (b) for sub-clause (iii), the following sub-clause shall be substituted, namely:-
   "(iii) not a withholding foreign partnership or a withholding foreign trust;",

3. In the said rules, in rule 114H,-
    (a) in sub-rule (3),-
       (I) in clause (b), in sub-clause (i), for item (D), the following item shall be substituted,
       namely:-
    "(D) in case of U.S. reportable account, any standing instructions to transfer funds to an
    account maintained in a country or territory outside India and in case of other reportable
    account, any standing instructions (other than with respect to a depository account) to
    transfer funds to an account maintained in a country or territory outside India; or";

    (II) in clause (c), in sub-clause (ii), for item (E), the following item shall be substituted,
     namely:-
   "(E) in case of U.S. reportable account, any standing instructions to transfer funds currently in
   effect and in case of other reportable account any standing instructions (other than with
   respect to a depository account) to transfer funds currently in effect:";
   (III) in clause (d), for sub-clause (ii), the following sub-clause shall be substituted, namely:-
   "(ii) in case of a U.S. reportable account which is low value account as on the 30 th June, 2014,
   shall be completed by the 30th June, 2016 and in case of other reportable account which is high
   value account as on the 31st December, 2015, shall be completed by the 31st December, 2016;";
   (b) in sub-rule (5), in clause (e), for sub-clause (i), the following sub-clause shall be
   substituted, namely:-
   "(i) review of pre-existing entity accounts with an aggregate account balance or value that
   exceeds an amount equivalent to two hundred and fifty thousand U.S. dollars as on the 30 th
   June, 2014 (in case of a U.S. reportable account) shall be completed by the 30th June, 2016 and
   review of pre-existing entity accounts with an aggregate account balance or value that
   exceeds an amount equivalent to two hundred and fifty thousand U.S. dollars as on the, 31st
   December, 2015 (in case of other reportable account) shall be completed by the 31st December,
   2016;".




4. In the said rules, in Appendix-II, with effect from 1st January, 2017, for Form 61B, the following
form shall be substituted, namely:-

                                                    "FORM NO. 61B
                                             [See sub-rule (8) of rule 114G]
        Statement of Reportable Account under sub-section (1) section 285BA of the Income-tax Act, 1961
                                         (see instructions for guidance)
                                     PART A: STATEMENT DETAILS
             (This information should be provided for each Statement of Reports submitted together)


A.1          REPORTING ENTITY DETAILS
A.1.1        Reporting Entity Name

A.1.2        ITDREIN                                                                       .
             Global Intermediary Identification
A.1.3
             Number (GIIN)
A.1.4        Registration Number

A.1.5        Reporting Entity Category                           Insert 2 character code

A.2          STATEMENT DETAILS
A.2.1        Statement Type                                      Insert 2 character code

A.2.2        Statement Number

A.2.3        Original Statement Id

A.2.4        Reason for Correction                          Insert 1 character code

A.2.5        Statement Date

A.2.6        Reporting Period

A.2.7        Report Type                                    Insert 1 character code

A.2.8        Number of Reports

A.3          PRINCIPAL OFFICER DETAILS
A.3.1        Principal Officer Name

A.3.2        Principal Officer Designation

A.3.3        Principal Officer Address

A.3.4        City / Town

A.3.5        Postal Code
A.3.6    State Code     Insert 2 character code

A.3.7    Country Code   Insert 2 character code

A.3.8    Telephone

A.3.9    Mobile

A.3.10   Fax

A.3.11   Email
                                  PART B: REPORT DETAILS
               (This information should be provided for each Account being reported)

B.1      ACCOUNT DETAILS (To be provided for each account being reported)
B.1.1    Report Serial Number

B.1.2    Original Report Serial Number
B 1.3    Account Category                                          Insert 2 character code

B.1.4    Account Type                                              Insert 2 character code

B.1.5    Currency in which account is maintained
B.1.6    Account Number

B.1.7    Account Number Type                                  Insert 1 character code

B.1.8    Account Holder Name

B.1.9    Account Status                                       Insert 1 character code

B.1.10   Account Treatment                                    Insert 1 character code

B.1.11   Self- certification                                  Insert 1 character code

B.1.12   Documentation Status                                 Insert 1 character code
         Date of closure of account, if closed during the
B.1.13
         year
B.2      BRANCH DETAILS
B.2.1    Branch Number Type                                   Insert 1 character code

B.2.2    Branch Reference Number

B.2.3    Branch Name

B.2.4    Branch Address

B.2.5    City Town

B.2.6    Postal Code

B.2.7    State Code                                                Insert 2 character code

B.2.8    Country Code                                              Insert 2 character code

B.2.9    Telephone

B.2.10   Mobile

B.2.11   Fax

B.2.12   Email

B.3      ACCOUNT SUMMARY
         Account balance or value at the end of
B.3.1
         reporting period
B.3.2    Aggregate gross interest paid or credited

B.3.3    Aggregate gross dividend paid or credited

B.3.4    Gross proceeds from sale of property
         Aggregate gross amount of all other income
B.3.5
         paid or credited
B.3.6    Aggregate gross amount credited

B.3.7    Aggregate gross amount debited

B.4      INDIVIDUAL DETAILS (To be provided for individual account holder )
B.4.1    Name

B.4.2    Customer ID

B.4.3    Father's Name

B.4.4    Spouse's Name

B.4.5    Gender                                     Insert 1 character code (Refer Instructions)

B.4.6    PAN

B.4.7    Aadhaar Number

B.4.8    Identification Type                        Insert 1 character code

B.4.9    Identification Number

B.4.10   Occupation Type                            Insert 1 character code

B.4.11   Occupation

B.4.12   Birth Date

B.4.13   Nationality                                     Insert 2 character code

B.4.14   Country of Residence as per tax laws            Insert 2 character code

B.4.15   Place of Birth

B.4.16   Country of Birth                                Insert 2 character code
         Tax Identification Number (TIN) allotted
B.4.17
         by tax resident country
B.4.18   TIN Issuing Country                             Insert 2 character code

B.4.19   Address Type                                    Insert 2 character code


B.4.20   Address


B.4.21   City / Town

B.4.22   Postal Code

B.4.23   State Code                                      Insert 2 character code

B.4.24   Country Code                                    Insert 2 character code

B.4.25   Mobile/Telephone Number

B.4.26   Other Contact Number


B.4.27   Remarks
B.5      LEGAL ENTITY DETAILS (To be provided for entity account holder)
B.5.1    Name of the Entity

B.5.2    Customer ID
         Account Holder Type for US
B.5.3                                           Insert 2 character code
         Reportable Person
         Account Holder Type for Other
B.5.4                                           Insert 2 character code
         Reportable Person
B.5.5    Entity Constitution Type               Insert 1 character code

B.5.6    Date of Incorporation

B.5.7    Nature of Business

B.5.8    PAN

B.5.9    Identification Type                    Insert 1 character code

B.5.10   Identification No.

B.5.11   Identification issuing Country              Insert 2 character code

B.5.12   Place of Incorporation

B.5.13   Country of Incorporation                    Insert 2 character code

B.5.14   Country of Residence as per tax laws        Insert 2 character code
         Tax Identification Number (TIN)
B.5.15
         allotted by tax resident country
B.5.16   TIN Issuing Country                         Insert 2 character code

B.5.17   Address Type                           Insert 1 character code







B.5.18   Address




B.5.19   City / Town
B.5.20   Postal Code
B.5.21   State Code                                  Insert 2 character code
B.5.22   Country Code                                Insert 2 character code

B.5.23   Mobile/Telephone Number

B.5.24   Other Contact Number



B.5.25   Remarks
B.6      CONTROLLING PERSON DETAILS (To be provided for each controlling person of the entity)
B.6.1    Controlling Person Type                         Insert 3 character code

B.6.2    Name

B.6.3    Customer ID

B.6.4    Father's Name

B.6.5    Spouse's Name

B.6.6    Gender                                 Insert 1 character code

B.6.7    PAN

B.6.8    Aadhaar Number

B.6.9    Identification Type                    Insert 1 character code

B.6.10   Identification Number

B.6.11   Occupation Type                        Insert 1 character code

B.6.12   Occupation

B.6.13   Birth Date

B.6.14   Nationality                                 Insert 2 character code

B.6.15   Country of Residence as per tax laws        Insert 2 character code

B.6.16   Place of Birth

B.6.17   Country of Birth                            Insert 2 character code
         Tax Identification Number (TIN)
B.6.18
         allotted by tax resident country
B.6.19   TIN Issuing Country                         Insert 2 character code

B.6.20   Address Type                                Insert 2 character code


B.6.21   Address


B.6.22   City / Town

B.6.23   Postal Code

B.6.24   State Code                                  Insert 2 character code

B.6.25   Country Code                                Insert 2 character code

B.6.26   Mobile/Telephone Number

B.6.27   Other Contact Number


B.6.28   Remarks".
                                        [Notification No.48/2016][F.No.142/6/2016-TPL]



                                                                      (Dr. T.S. Mapwal)
                                             Under Secretary to the Government of India



Note:- The principal rules were published vide Notification S.O.969 (E), dated 26th March,
1962 and last amended vide notification number S.O.1949(E), dated the 02.06.2016.

 
 
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