Please tell me that---how FATCA ACT applicable for a company registered under co. act 1956 ?
co. want open a current a/c in kotak mahindra bank , Bank demand FATCA Act. declaration from the company. So what is this deceleration and in which circumstances this act will applicable to an Indian company registered under co. act 1956
10 March 2016
Dear If a company has a USA resident as owner or as beneficiary owner then the bank is required to report that account under FATCA act. It does not matter where the company is incorporated.
The declaration bank need ask the bank what documents they want.
CAclubindia
