As part of Foreign Account Tax Compliance Act (FATCA) compliance, the Central Board of Direct Taxes (CBDT) has asked the banks/financial institutions to link their accounts with Aadhaar number and self-certification from customers by April 30, 2017, to avoid closure of accounts.
It is clearly directed the banks to obtain a self-certification for the accounts opened between July 1, 2014 to August 31, 2015.
Takeaways from above News-
- Bank accounts be blocked if not linked with Aadhaar number and self-certification by April 30, 2017
- Customers whose account opened between July1, 2014 to August 31, 2015 have to submit their self-certication by April 30, 2017.
If you have any other takeaways, do share with us in the comment section
Source- The Indian Express