1. As per Rule 1 14G(9), the statement in respect of each reportable account needs to be filed by the RFIs to the Director of Income-tax (Intelligence and Criminal Investigation) or Joint Director of Income-tax (Intelligence and Criminal Investigation) through online transmission of electronic data to a server designated for this purpose under digital signature in accordance with the data structure specified by the Principal Director General of Income Tax (Systems).
2. The Principal Director General of Income Tax (Systems) through Notification No. 4/2015 dated 06th April, 2016 (at Appendix F of Guidance Note on FATCA and CRS as updated on 30th November 2016) has specified the procedures and data structure and standards for ensuring secure capture and transmission of data, which are summarized below:
a) Generation of ITDREIN: The reporting financial institution is required to get registered with the Income Tax Department by logging in to the e-filing website (http://incometaxindiaefiling.gov.in/) with the log in ID used for the purpose of filing the Income Tax Return of the reporting financial institution. A link to register reporting financial institution has been provided under “My Account>Manage ITDREIN”. The reporting financial institution is required to apply for different ITDREIN for different reporting entity categories. Once ITDREIN is generated, the reporting entity will receive a confirmation e-mail on the registered e-mail ID and SMS at registered mobile number. There will be no option to de-activate ITDREIN, once ITDREIN is created.
b) Submission of details of reporting entity: After generation of ITDREIN, the reporting financial institution will be required to submit details of the reporting entity on the screen. Once registered, the reporting entity will have an option to edit the details.
c) Registration of designated director and principal officer: After submission of reporting entity details, the reporting financial institution will be required to submit the details of designated director and principal officer. The designated director and principal officer will receive a confirmation e-mail with an activation link. An SMS along with OTP (One time Password) will also be sent to the registered Mobile Number. For completion of registration, the designated director and principal officer should click on the Activation link, enter the Mobile PIN(OTP), Password and Confirm Password and click on Activate Button. On success, the registration will be complete.
d) Submission of Form 61B: Every reporting financial institution is required to submit the Statement of Reportable Account in Form 61B or submit Nil statement. The prescribed schema for Form 61B and a utility to prepare XML file can be downloaded from the e-filing website home page under forms (other than ITR) tab. The designated director is required to login to the e-filing website with the ITDREIN, PAN (of the designated director) and password The form is required to be submitted using a Digital Signature Certificate of the designated director.
c) Submission of Nil statement: In case nil statement is to be submitted, the option to submit Nil statement is required to be selected. The designated director will then be required to submit a declaration with respect to pre-existing accounts (As defined in Rule 114H(2)(h) of Income Tax Rules, 1962) and new accounts (As defined in Rule 114H(2)(d) of Income Tax Rules, 1962). The declaration is required to be submitted using a Digital Signature Certificate.
3. A “User Manual for Registration, upload and view of Form 61B” is available on the official website http://incometaxindiaefiling.gov.in at the following link :
http://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Registration_Upload_Form61Form61B_Form15CC.pdf?0.5597204761148895
4 Further, an easy “Form 61B- Steps to Upload” is ava lable at Appendix G of Guidance Note on FATCA and CRS as updated on 30th November 2016. It can also be downloaded from the following link:
http://incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF/Step_to_Upload_Form_61B.pdf?0.20263939554499233
Source- Guidance Note on FATCA and CRS as updated on 30th November 2016
