Two States: compliance can be a taxing problem

The onus on Indians, who are U.S. citizens or green card holders, being subject to foreign income and asset reporting in the U.S. and India has been in the news lately. The Foreign Account Tax Compliance Act (FATCA) endeavours to pre-empt inadvertent non-reporting of investment and income earned outside the U.S. It imposes reporting obligations both on financial institutions and



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