Armed with FATCA & IT, taxman to nail evaders

Indian rupee vs US dollar FATCA will also shield Indian banks, insurers, custodians and broking houses from facing US tax penalties for failure to disclose the transactions of the US citizens and firms in India. (Reuters)

Even while taxpayers with undisclosed income are once again given the facility of a new limited compliance window

FULL ARTICLE http://www.financialexpress.com/article/economy/armed-with-fatca-it-taxman-to-nail-evaders/220243/

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