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Mohit Jain

Fatca declaration

My client has been told by bank that there bank accounts will be frozen if they dont declare the details of foreign directors under the FATCA declaration. Anyone knows anything about it. Is it the Dept fooling around or the Bank? more  

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Adish Jain (CEO at PR GENES, an image consultancy firm)
Here are the guidelines issued by RBI to all financial institutions. https://rbi.org.in/Scripts/NotificationUser.aspx?Id=10005&Mode=0 You will have to disclose information on all Foreign Directors in the company. more  
Shyamsundar Joshi
It is regular practice as per new procedure, there is no harm in declaring/signing the same, but make sure your details are kept confidential !! more  
Prashant Vyawhare
Yes correct from Aug 16 that FATCA SELF Declaration forms are mandatory, but don't worry it is easy to fill, you will get it easily available on your banks website/Bank Service Desk, please check below link for sample form of ICICI Bank, https://www.icicibank.com/managed-assets/docs/form-center/fatca-individual.pdf more  
Mahadev Dev
Please refer to the web site http://nareshco.com/blog/?p=1318. more  
NK SOMANI
Hi Mohit This is normal as India is signatory to the treaty and hence all of us need to sign FATCA declaration to confirm any liability for US taxation, if any. Its being signed by all now more  
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