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  Canada Immigration Forum > General > Our Native Country! > Indian Bank : FACTA declaration
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Indian Bank : FACTA declaration




Full House
Senior Desi
Member since: Oct 12




Posts: 2253
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We do not have any Pan Card nor any AAdhar card or any other card there in India. So, they are now trying to fish for S.I.N. Card.

Just give them my SIN Number. They don`t know the difference any way. And if they have a way of cross referencing the same, I will SUE them till they turn BLUE. They should not have any access to that file. (Or the system)

So, Give them any SIN Number that comes to your mind, if you don`t know mine.

FH.

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Quote:
Originally posted by nayadesi

FATCA has become mandatory, They are asking for SIN number, now. Received email from SBI. What to do? Can any one please guide? If I do not provide prior to Dec 31 2016, details will be provided to CBDT of India. Please help?



 
Post ID: 233496 07-12-16 23:45:17
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Many
Desi
Member since: May 13




Posts: 91
Location:


If I don't comply with the FATCA requirement (sent by my Indian bank); Can the Income-Tax guys stop my Refunds? Thus far I get refund for the TDS on my NRO deposits after I file Indian I-T returns.
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Many

 
Post ID: 235776 05-08-17 11:16:05
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pendse
Senior Desi
Member since: Jun 17




Posts: 118
Location:


Quote:
Originally posted by Many

If I don't comply with the FATCA requirement (sent by my Indian bank); Can the Income-Tax guys stop my Refunds? Thus far I get refund for the TDS on my NRO deposits after I file Indian I-T returns.



FATCA is mostly between US IRS ( Income Tax ) and Indian banks. So Canada CRA has nothing to do with it as of today.

Plus FATCS is between Indian bank's & US IRS, not Indian Income Tax dept. and US IRS. So your TDS IT refund won't be affected as it comes from Indian IT department, not Indian banks.

Indian banks & financial institutions are busy kissing US ass and appeasing them, and don't want to offend US otherwise they won't be able to operate in US and will lose lot of profits & business. Hence they are following FATCA.

The Indian banks are stupid, they just send a general automated computerised FATCA form to all NRO/NRE account guys, irrespective of which country they reside in. They should only be sending it to US citizens, US Green card holders & not NRI's in other foreign countries. So ignore the letter.

When they should only be sending it to US guys who have Indian accounts, not Canadian, UK, Australia or Dubai ow whatever guys.


 
Last edited by: pendse on 10-08-17 00:37:44
Post ID: 235777 05-08-17 14:45:43
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Many
Desi
Member since: May 13




Posts: 91
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Thank you Pendse Saheb.

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Many

 
Post ID: 235810 09-08-17 22:56:28
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soberflier
Senior Desi
Member since: Aug 04




Posts: 228
Location:


Quote:
Originally posted by Fido

One of the Indian Nationalized Banks with whom I have accounts with , is asking for a FACTA declaration , the other one (SBI) has still not asked .

FACTA has more to do with IRS asking details of US related people ... However the Banker clarified that Canada is also a part of the 58 countries who have signed FACTA ...

I am hesitant in giving this , if it is not mandatory.

Have others CDs also received request for FACTA declarations from their Indian Banks ?

(Fyi , I have a Canadian Passport and the Bank is aware of that )





Hey Fido,

Did you work or have a mailing address in the US ever and share that with that bank?

Cheers


 
Post ID: 235964 03-09-17 23:07:40
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Contributors:
Canada_Ka_Bhikari(2)  Fido(3)  Full House(2)  GlobalIndian(1)  Many(2)  nayadesi(1)  pendse(1)  
RBO(1)  rbot2008(1)  soberflier(1)  
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