Information under the Foreign Account Tax Compliance Act (FATCA) is to be provided ____?
A
Only if the investment is made from a foreign bank account
B
Only if the country of birth, citizenship, nationality, or tax residency is other than India
C
Only if an NRI is making the investment
D
Only if the investor is a resident of the USA or Europe
Correct Option:
B
Explanation
FATCA reporting is intended to identify investors with foreign tax residency or foreign citizenship. Therefore, detailed FATCA information is required when an investor's country of birth, citizenship, nationality, or tax residency is other than India.
