Ch.5 · NFO Process and Rules · hard
What is the 'Common Reporting Standard (CRS)' relevant to mutual funds?
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EXPLANATION
CRS (Common Reporting Standard) is an OECD framework adopted by India for automatic exchange of financial account information with other participating countries. Indian mutual funds must collect tax residency information from investors and report foreign account holders to Indian tax authorities, who share it with partner countries' tax authorities.
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