Filed your FATCA? If not, your account will be blocked from May 1

On Aug 31, 2016, IT dept indefinitely extended deadline for complying with self-certification norm

Have you got your account FATCA (foreign account tax compliance act) compliant? If not, your account may be frozen on Monday. 

 

What is Fatca

The Foreign Account Tax Compliance Act (FATCA) of the US makes it mandatory for overseas financial institutions to give information about non-resident US account holders or face withholding tax. India had entered into an agreement with the US for implementation of FATCA with effect from August 31, 2015.Financial institutions in India are required to give this information to CBDT, which in turn gives it to US authorities.

Mutual fund investors, bank account holders and those who have invested in