India clarifies FATCA and CRS requirements

India’s Income Tax Department today released guidance to help financial institutions comply with FATCA and the common reporting standard regarding account holder self-certification, collection of taxpayer identification numbers (TINs), and valuation of depository amounts.

The tax agency states that self-certification from account holders will now be permitted through a user’s online banking platform.

Also, TINs need not be collected if

FULL ARTICLE http://mnetax.com/india-clarifies-fatca-crs-requirements-self-certification-tins-depository-accounts-15800

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