Rule 244: this rule.

Bare law

Rule 244 - this rule.

244. (1) A crypto-asset user is treated as a reportable user beginning as of the date it is identified as such, pursuant to the due diligence procedures specified in this rule. (2) The following procedures shall apply for the purposes of determining whether the individual crypto-asset user is a reportable user:- (a) when establishing the relationship with the individual crypto-asset user, or with respect to pre-existing individual crypto-asset users within twelve months on and from the 1st Janua

(a) legal name; (b) address; (c) country(s) or territory(s) of residence for tax purposes; (d) with respect to each reportable person, the TIN with respect to each country or territory outside India in which it is a resident for tax purposes; (e) in case of an entity crypto-asset user other than an active entity or an excluded person, the information specified in sub-rule (8) with respect to each controlling person of the entity crypto-asset user, unless such controlling person has provided a se

(xviii)  a reporting crypto-asset service provider may treat a self-certification as valid, irrespective of whether the self-certification contains an inconsequential error, if the reporting crypto-asset service provider has sufficient documentation on file to supplement the information missing from the self- certification due to the error and the documentation relied upon to cure the inconsequential error shall be conclusive. (b) For the purposes of sub-rule (3),— (i) "publicly available" infor

Annual Information Statement.

Rule breakdown

Key takeaways

FAQs