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FATCA Legislation
These days, most of the non-residents of India (NRIs) in the US are countering discomfort. India and the US governments have signed a deal under the banner ‘FATCA’ which is the US’ Foreign Account Tax Compliance Act. Since I have been living in America for half a decade I am very much aware of this act. It is ratification by the United States Department of Treasury and the US internal Revenue Service (IRS) that observes and takes action against the tax invasion in the US.
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