FATCA in Indian perspective:
FATCA form in banking (Foreign Account Tax Compliance Act)
FATCA form in banking (Foreign Account Tax Compliance Act)
FATCA in Indian perspective came into effect from 2015 when US Govt. makes an agreement with Indian Govt. for exchange of information to compliance USA Citizens who have accounts, property and any sort for investment outside USA. The purpose of FATCA is to make international transactions transparent.
Who needs to fill FATCA form or Why do Indian citizens in India have to sign FATCA?
Any USA citizen or NRI USA citizen who has property or investments outside US needs to fills this FATCA form. As per NRI perspective it means USA citizens need to pay tax to the US government on the interest earned on properties, real estate holdings and investments in India. Similarly as Indians who have property or investments outside INDIA, need to fill FATCA.
How to fill FATCA form?
Individual from INDIA can submit this form on NSDL e-Governance Infrastructure Limited website portal. It includes account holder basic details and Individual needs to enter TIN (Tax Payer Identification Number) and country of issue.
As we observe from various international forms CANADIAN also needs to fill this form, whose have property in INDIA. Indians are almost in every country. Majority in European union and Australians NRI are not facing this problems. However if you are net banking account force you to fill FATCA form kindly inquire directly directly to bank or investment house.
Have more inquiries:
NSDL e-Governance Infrastructure Limited
email id npsclaimassist@nsdl.co.in
(022) 2499 3499
As we observe from various international forms CANADIAN also needs to fill this form, whose have property in INDIA. Indians are almost in every country. Majority in European union and Australians NRI are not facing this problems. However if you are net banking account force you to fill FATCA form kindly inquire directly directly to bank or investment house.
Have more inquiries:
NSDL e-Governance Infrastructure Limited
email id npsclaimassist@nsdl.co.in
(022) 2499 3499
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