question_answer

Which of the following statements is/ are correct about Foreign Account Tax Compliance Act (FATCA)?

A)  Bank accounts that were opened between July 1, 2014 and Argust 31, 2015 and are not in compliance with FATCA will be blocked.

B)  India had entered into an agreement with the US for the implementation of the FATCA with effect from August 31, 2015.

C)  FATCA aims at ensuring that individuals pay tax on income generated from their wealth parked overseas.

D)  All the above