FATCA & India

Q.  According to FATCA trusts in India will have to disclose all details to the tax office. FATCA Act is passed by -
- Published on 01 Nov 15

a. USA
b. India
c. Switzerland
d. China

ANSWER: USA
 
According to FATCA — The Foreign Account Tax Compliance Act passed by the US government to unearth black money of US residents outside the country
— Trusts in India will have to disclose all details to the tax office if any of the trust beneficiary is a US residents.

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