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FATCA Regulations – All about blocking of non-compliant account holders

In a meeting held on 5th June 2017, CBDT (Nodal Authority) gave a final deadline and finer definitions on what is to be blocked, when it will be fully effective and all; let us examine what really is the ground level situation in case of account holders on-boarded under the Alternate Procedure. 2. What is the significance of Alternate Procedure? Accounts opened under the Alternate Procedure: Actually such cases refer to account holders (and not…