NuvvNen Posted April 12, 2017 Report Share Posted April 12, 2017 The Income Tax Department has said that all account holders under the ambit of the Foreign Tax Compliance Act need to self-certify the accounts by April 30, failing which the accounts will be blocked. While transactions with respect to such blocked accounts will be prohibited from May, it will be permitted once self-certification is obtained and due dilige The order also includes the linkage of insurance and stock accounts. Clarifying on the order, the Income Tax department said in a statement, "The account holders may be informed that, in case self-certifications are not provided till April 30, 2017, the accounts would be blocked, which would mean that the financial institution would prohibit the account holder from effecting any transaction with respect to such accounts." Quote Link to comment Share on other sites More sharing options...
NuvvNen Posted April 12, 2017 Author Report Share Posted April 12, 2017 What is impact ?? What should we do mama :? Quote Link to comment Share on other sites More sharing options...
uncertainty Posted April 12, 2017 Report Share Posted April 12, 2017 Already my ICICI account frozen.. PAN isthey they will unlock Quote Link to comment Share on other sites More sharing options...
babu_bangaram Posted April 12, 2017 Report Share Posted April 12, 2017 what does " self-certified " means ....what we need to do ......? is this KYC requirement? Quote Link to comment Share on other sites More sharing options...
Luke Posted April 12, 2017 Report Share Posted April 12, 2017 Quote Link to comment Share on other sites More sharing options...
icecreamZ Posted April 12, 2017 Report Share Posted April 12, 2017 48 minutes ago, psycopk said: ori nee eshalo.. mee bratukulaki.. system ni mundu set chesukondi.. people meda padataru endi ra lanjaa kodakallara.. banks meda padandi.. kojja nayyalara..thu chekka gadi lane unaru vadi kinda pani chese vallu kuda... em matladuthunnavo....em arthav avvatledhu..... why so gussa? Quote Link to comment Share on other sites More sharing options...
ICANWIN Posted April 12, 2017 Report Share Posted April 12, 2017 i have NRI and NRE accounts ..ippudem cheyali according to post? PAN update cheyala? Quote Link to comment Share on other sites More sharing options...
Spartan Posted April 12, 2017 Report Share Posted April 12, 2017 Source of the news please. Quote Link to comment Share on other sites More sharing options...
Tenali Posted April 12, 2017 Report Share Posted April 12, 2017 It looks like it only affects accounts that were opened between July 1, 2014 and August 31, 2015 source:Indian express http://indianexpress.com/article/india/submit-self-certification-of-accounts-to-bank-by-april-30-or-risk-closure-of-account-cbdt-4610116/ Quote Link to comment Share on other sites More sharing options...
just2deal Posted April 12, 2017 Report Share Posted April 12, 2017 1 hour ago, psycopk said: ori nee eshalo.. mee bratukulaki.. system ni mundu set chesukondi.. people meda padataru endi ra lanjaa kodakallara.. banks meda padandi.. kojja nayyalara..thu chekka gadi lane unaru vadi kinda pani chese vallu kuda... cos Indian government entered an Inter-Governmental Agreement (IGA) with USA for implementation of FATCA coming into force on 31st August 2015. and as per FACTA rules,they need comply https://www.irs.gov/businesses/corporations/foreign-account-tax-compliance-act-fatca The requirement is only for NRIs living in USA Quote Link to comment Share on other sites More sharing options...
k2s Posted April 12, 2017 Report Share Posted April 12, 2017 1 hour ago, psycopk said: ori nee eshalo.. mee bratukulaki.. system ni mundu set chesukondi.. people meda padataru endi ra lanjaa kodakallara.. banks meda padandi.. kojja nayyalara..thu chekka gadi lane unaru vadi kinda pani chese vallu kuda... Quote Link to comment Share on other sites More sharing options...
icecreamZ Posted April 12, 2017 Report Share Posted April 12, 2017 51 minutes ago, ICANWIN said: i have NRI and NRE accounts ..ippudem cheyali according to post? PAN update cheyala? yes. acctount details and balances ikkada post cheyyali Quote Link to comment Share on other sites More sharing options...
ICANWIN Posted April 12, 2017 Report Share Posted April 12, 2017 1 minute ago, icecreamZ said: yes. acctount details and balances ikkada post cheyyali Account # : 364743580 Balance: 1000038383929928378 Account # : 364743584 Balance: 1000038383929924848 Quote Link to comment Share on other sites More sharing options...
babu_bangaram Posted April 12, 2017 Report Share Posted April 12, 2017 All bank accounts that were opened between July 1, 2014 and August 31, 2015 will require submission of self certification forms by April 30 this year, failing which the accounts will be blocked, according to a statement issued by the Central Board of Direct Taxes. Quote Link to comment Share on other sites More sharing options...
HyperAdi Posted April 12, 2017 Report Share Posted April 12, 2017 47 minutes ago, k2s said: gif Quote Link to comment Share on other sites More sharing options...
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