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CBDT Issues Revised Guidance for Indian Financial Institutions on Global Tax Reporting
The Central Board of Direct Taxes (CBDT) has released updated guidelines for Indian financial institutions, including banks, mutual funds, and insurers. These revisions strengthen the compliance framework for reporting customer financial information under global Automatic Exchange of Information (AEOI) agreements, aimed at combating tax evasion.
BreakingForeign Investments to Appear in Your AIS: CBDT Boosts Tax Transparency
The CBDT is integrating foreign investment and overseas financial account details into taxpayers' Annual Information Statement (AIS) within 90 days. This initiative, part of the AEOI framework, aims to enhance tax transparency and simplify compliance for Indian residents with international assets.
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