New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    Which document is no longer required for non-residents

    and foreign companies opening bank accounts in IFSC Gift City, according to the amended Income Tax Rules?
    A Passport Correct Answer Incorrect Answer
    B Aadhaar Card Correct Answer Incorrect Answer
    C PAN Card Correct Answer Incorrect Answer
    D Voter ID Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    The Finance Ministry has amended Income Tax Rules and so now the non-residents and foreign companies opening bank accounts in IFSC Gift City will not have to furnish PAN and instead file a declaration.The non-resident or the foreign company opening a bank account at the International Financial Services Centres (IFSC) will have to file a declaration in Form 60 and should not have any tax liabilities in India.

    Practice Next