Finance Ministry today said all disclosures under the FATCA and CRS should be made in rupees.
It further clarified that fixed deposits should not be treated as a separate account and must be linked to the pre- existing savings account for which KYC had already been undertaken.
"...all reporting has to be done in INR. For the reporting in 2017, Form 61B and Schema will be suitably modified to include a field for capturing type of currency," the CBDT said in a statement.
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