MFs, banks lobby for extension of 31 August FATCA deadline …

Mumbai: With barely a day left to comply with the US Federal tax law, Foreign Account Tax Compliance Act (FATCA), various financial institutions including banks, mutual funds and insurance companies have met with finance ministry officials, expressing concerns over non-compliance besides seeking an extension to the 31 August-deadline, said two people familiar with the development.

The extension sought is backed by

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