India clarifies FATCA/CRS reporting regarding currencies, fixed deposits

The Indian goverment has provided financial institutions with more guidance on how to handle currencies and fixed deposit accounts for purposes of Foreign Account Tax Compliance Act (FATCA) and common reporting standard (CRS) compliance.

The government, on February 19, said that the March 2015 and May 2016 reporting must be done in rupees. For the reporting in 2017, Form



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