14 October 2019

Notifications & Circulars

Ministry of Finance 


Direct Taxation

Amendment in Rule 114H of Income-tax Rules, 1962


Rule 114H of the Income Tax Rules 1962 has been amended to provide sufficient time to reporting financial institutions for completing due diligence in respect of reportable accounts under the provision.

The timeline specified for review of pre-existing individual and entity accounts has been extended from 30 June 2016 to 31 December 2016. The extension is only for high value accounts.


Income-Tax (15th Amendment) Rules, 2016 MANU/CBDT/0057/2016

Tags : Income tax rules reportable accounts deadline

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