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Home Central Clarification for implementation of FATCA and CRS
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Clarification for implementation of FATCA and CRS

By
Saurabh
-
February 19, 2016
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    India and USA-flag-indianbureaucracy
    India and USA-flag-indianbureaucracy

    An Inter-Governmental Agreement between India and USA was signed for implementation of Foreign Account Tax Compliance Act (FATCA). The Government of India has also joined the Multilateral Competent Authority Agreement (MCAA) for Automatic Exchange of Information as per Common Reporting Standard (CRS). To provide guidance for implementation of FATCA and CRS, a Guidance Note was released on 31st August 2015 which was subsequently updated on 31.12.2015.

    Based on comments and feedback received from the financial institutions, a clarification has been issued in this month.

    The same has been placed on the Income-tax website http://www.incometaxindia.gov.in.

    • TAGS
    • FATCA
    • Foreign Account Tax Compliance Act
    • government of india
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