FIs told to furnish self-certificates of US account holders by April 30

If norms under FATCA are violated, accounts will be blocked till self-certification is received

Dilasha Seth  |  New Delhi 

The income tax department has asked financial institutions (FIs) to ask their non-resident US-based account holders to provide self-certification of their 2014-15 (July-August) accounts by April 30. If norms under the Foreign Account Tax Compliance Act (FATCA) are violated, these accounts will be blocked till the self-certification is received. “The account holders may be informed that, in case self-certifications are not provided till April 30, 2017, the accounts will be blocked, which will mean that the financial institution will prohibit the account holder from effecting any ...

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FIs told to furnish self-certificates of US account holders by April 30

If norms under FATCA are violated, accounts will be blocked till self-certification is received

If norms under FATCA are violated, accounts will be blocked till self-certification is received The income tax department has asked financial institutions (FIs) to ask their non-resident US-based account holders to provide self-certification of their 2014-15 (July-August) accounts by April 30. If norms under the Foreign Account Tax Compliance Act (FATCA) are violated, these accounts will be blocked till the self-certification is received. “The account holders may be informed that, in case self-certifications are not provided till April 30, 2017, the accounts will be blocked, which will mean that the financial institution will prohibit the account holder from effecting any ... image
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