For illustration, interpretation and implementation of this chapter, guidance shall also be sought from commentaries on the Model Competent Authority Agreement and Common Reporting Standard as developed by the Organization for Economic Co-Operation and Development (OECD) as amended from time to time. Following table may be referred to for cross referencing to the Commentary of OECD:
|
S.No. |
Reference in Income Tax Rules,2002 |
Reference in Commentary on Common Reporting Standard Developed by OECD |
|
(1) |
(2) |
(3) |
|
1 |
Rule 78B |
Commentary on Section VIII concerning Defined Terms |
|
Rule 78C |
Commentary on Section I concerning General Reporting Requirements |
|
|
2 |
Rule 78D |
Commentary on Section II concerning Due Diligence requirements |
|
3 |
Rule 78E |
Commentary on Section III concerning Due Diligence for Pre Existing Individual Accounts |
|
4 |
Rule 78F |
Commentary on Section IV concerning Due Diligence for New Individual Accounts |
|
5 |
Rule 78G |
Commentary on Section V concerning Due Diligence for Pre Existing Entity Accounts |
|
6 |
Rule 78H |
Commentary on Section VI concerning Due Diligence for new entity |
|
7 |
Rule 78I |
Commentary on Section VII concerning Special Due Diligence Requirements”. |
