India, US pledge increased cooperation to crack down on tax evasion
New Delhi: India and the US will work together to ensure that information under the latter’s Foreign Account Tax Compliance Act, or FATCA, is fully reciprocal. Under FATCA, which came into effect last year, Indian financial institutions are mandated to report accounts maintained by US taxpayers to the US government. But so far there has been […]
New Rules in India for Overseas Account Disclosures
By Rajesh H. Dhruva Now that Indian Central Govt. Cabinet has approved signing of the Inter-Governmental Agreement (IGA) with the US; almost 680 Indian financial institutions including all leading banks like SBI Bank, ICICI Bank, Bank of Baroda, Bank of India, HDFC Bank, HSBC Bank, Axis Bank etc., and mutual funds like ICICIPru, HDFCMF, Birla Sunlife, DSPBlackrock, L […]
Experts Try to Take Away the Taxation Blues for the Worried
By Jawahar Malhotra HOUSTON: For the fourth year in a row, community experts from the accounting field took time away from their peak crowded tax period to share some of their knowledge with a two-hour seminar held last Sunday, January 25 at India House, as part of the Indo American Chamber of Commerce’s series of […]
