BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
CRLC
|
|
|
VRC
|
|
|
SCIF
|
|
|
none
|
Detailed explanation-1: -Log-in to your NPS account (please visit www.cra-nsdl.com) Click on sub menu “FATCA Self-Certification” under the main menu “Transaction” Submit the required details under “FATCA/CRS Declaration Form” Click on “Submit”
Detailed explanation-2: -You are requested to provide Online Self-certification even if you have submitted/sent the physical Self-Certification Form to CRA. In case of non-submission of FATCA Self-Certification, you will not be able to make voluntary contribution or carry out withdrawal in your NPS/PRAN account.
Detailed explanation-3: -CRS is the global standard for the exchange of Financial Account information. Over 100 jurisdictions globally have signed up to CRS, including all EU Member States. CRS within the EU is called DAC 2. While FATCA is a bilateral agreement with the United States.
Detailed explanation-4: -What is the purpose of FATCA/CRS? The purpose of FATCA is to prevent U.S. persons from using banks and other financial institutions outside the USA to park their wealth outside U.S. and consequently avoid U.S. taxation on income generated from such wealth.