MFs rope in KPMG to comply with new US tax law

MFs rope in KPMG to comply with new US tax law

FPJ BureauUpdated: Saturday, June 01, 2019, 09:12 AM IST
article-image

New Delhi :  Indian mutual funds have roped in global consultant KPMG to help them prepare for the Foreign Account Tax Compliance Act (FATCA) – a new law enacted by the US to help combat tax evasion by Americans through overseas entities including in India, reports PTI.

FATCA, which took effect from July 1, may have significant implications for Indians residing in the US and investing in products offered by the Rs 10 trillion Indian mutual fund industry.

RECENT STORIES

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...