India: Updated FAQs and reporting portal user guide
Key aspects of the updated version of the reporting portal FAQs
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July 31, 2025
The income tax department of India on July 18, 2025, released an updated version of the Reporting Portal Frequently Asked Questions (FAQs) (Version 5.5). The key updates are as follows:
- The answer for Q.11 under Section 1.30, “Validation of SRA using Report Generation Utility,” has been revised to clarify that reporting the global intermediary identification number (GIIN) is mandatory when submitting Form 61B (in Part A) for Report Type 01 (FATCA). However, for Report Type 02 (common reporting standard (CRS)), reporting the GIIN is not mandatory.
- A clarification has been added to the answer for Q.2 under Section 1.34, “SRA Preliminary Response,” indicating that a reporting financial institution without a GIIN can report NIL (no data) by submitting a Preliminary Response for Form No. 61B, Report Type 01 and selecting the option for NIL – No Reportable Accounts.
- A new question, Q.32, has been added under Section 1.35, “Data Quality Report (DQR) for Form 61B,” which addresses the issue of “Incorrect GIIN (40093)” for Report Type 02 at the statement level of Form 61B. This issue arises when an invalid GIIN is provided in the statement. Although providing a GIIN is not mandatory for Report Type 02, any GIIN that is provided must be valid.
Additionally, a revised version of the Reporting Portal User Guide (version 4.4) has been issued to reflect the above updates.
Read a July 2025 report prepared by the KPMG member firm in India