Fatca and rnor

Tax planning 361 views 1 replies

I request some advice from you.

I have stayed in India for more than 182 days in a year. So this year I will be resident according to Income Tax laws but can file return as NROR as I was an NRI for more than 10 previous years.

Recently I got a letter from my bank to submit self declaration form regarding FATCA. My question is do I need to fill up this form and declare that I am resident in India or do I need to fill the details about my Tax residence abroad also.

Many Thanks in advance

Replies (1)

"My question is do I need to fill up this form?"

Yes, its mandatory.

 

"Do I need to fill the details about my Tax residence abroad also?"

Yes, no harm; only your income earned/accrued in India will be taxable. Other information is for just records.


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