For Indian Financial Institutions (FIs), wealth managers, and Alternative Investment Funds (AIFs), complying with the Automatic Exchange of Information (AEOI) is a complex, high-risk mandate. Under Rule 114G of the Income Tax Rules, institutions must accurately identify reportable accounts and file Form 61B through the CBDT INSIGHT portal.
Failure to file on time, or submitting improperly formatted XML data can result in severe penalties from the Central Board of Direct Taxes (CBDT).
At Novus Compliance (a Binari Software Initiative), we eliminate the compliance burden. Whether you need a fully managed "do-it-for-me" service or are looking for the most robust FATCA and CRS reporting software in India, we ensure your institution is 100% compliant, secure, and on time.
End-to-End FATCA CRS Reporting Services in India
Don't have the internal bandwidth to decipher complex XML schemas and CBDT validation rules? Our managed FATCA CRS reporting services in India are designed for institutions that want to outsource the entire regulatory headache to the experts.
As a registered GIIN holder with the US IRS, our team understands the technical and regulatory rigor required at a global level. When you partner with Novus Compliance for managed services, we handle the entire lifecycle:
-
Data Review & Classification: We review your raw account holder and investor data to identify reportable U.S. persons and foreign tax residents.
-
TIN & Indicia Remediation: We help you resolve missing Tax Identification Numbers (TINs) and apply the correct IRS Notice 2024-78 relief codes.
-
XML Payload Generation: Our experts convert your standard spreadsheets into the exact OECD CRS v2.0 and FATCA schemas required by the Indian government.
-
Pre-Flight Validation: We run your data through our proprietary validation engine to catch errors before they trigger a rejection on the income tax portal.
-
Submission Support: We guide your Principal Officer through the final Form 61B upload to the CBDT INSIGHT Reporting Portal.
The Leading FATCA and CRS Reporting Software in India
If your compliance team prefers to keep the reporting process in-house, you need a technology partner you can trust. Generic, global XML converters often fail because they do not account for India's specific local validation rules.
Novus Compliance provides the most powerful FATCA and CRS reporting software in India. Built specifically to handle the nuances of the CBDT INSIGHT portal, our platform allows your team to generate flawless XML files in minutes.
Key Software Features for Indian FIs:
-
Automated Form 61B XML Creation: Upload your standard Excel templates, and our engine instantly maps the data into the mandatory CBDT XML structure.
-
Built-in Schema Validation: Our software acts as a firewall, immediately flagging missing mandatory fields, invalid ISO country codes, or improperly categorized Controlling Persons.
-
Seamless ITDREIN Management: Easily manage reporting across multiple ITDREINs (Income Tax Department Reporting Entity Identification Numbers) from a single, secure dashboard.
-
Enterprise-Grade Security: We employ advanced AES-256 encryption to ensure your highly sensitive financial data is protected at every step of the generation process.
Why Indian Financial Institutions Choose Novus Compliance
When searching for FATCA CRS reporting in India, you need more than just a software vendor—you need a regulatory partner.
-
Local Expertise, Global Standards: We bridge the gap between complex IRS/OECD mandates and the specific technical requirements of the Indian Income Tax Department.
-
Backed by Binari Software: As a Binari Software Initiative, our platform is built on enterprise-grade architecture designed for maximum uptime, speed, and data security.
-
Official IRS GIIN Holder: We don't just build the software; we operate within the same regulatory framework as our clients, giving us unparalleled insight into the compliance lifecycle.
Secure Your May 31st CBDT Submission Today
Whether you want to license our FATCA and CRS reporting software or utilize our fully managed reporting services, Novus Compliance is ready to streamline your workflow.
Stop wrestling with manual XML coding and portal rejections.