n NISM Certifications
V-A NISM Series V-A
Medium

Information under Foreign Account Tax Compliance Act (FATCA) is to be provided _______.

Practice question from Nism VA Mock Test 5 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Only if the investment is made from a foreign bank account

  2. Only if the country of birth/citizenship/nationality/tax residency is other than India

    Correct answer

  3. C

    Only if an NRI is doing the investment

  4. D

    Only if the investor is a resident of USA or Europe

Why this is the answer

FATCA requires additional information from investors whose country of birth, citizenship, nationality, or tax residency is not IndiA) This is part of global efforts to combat tax evasion and ensure compliance with international tax standards.

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