What client information is reported by Geojit under FATCA/CRS?
At the time of Geojit account opening, clients are required to submit a FATCA declaration wherein they declare their residency/citizenship in a country other than India.
If the client is a resident/citizen of a country other than India, they must declare the country and their Tax Identification Number (TIN) in that country. This information is reported as per FATCA/CRS rules. If the client has not submitted the declaration and the account is considered to be reportable as per information available with Geojit, the account will be reported.
The FATCA/CRS reporting period is done as per the calendar year, with December 31st being the end of the concerned reporting period.
| Client Information reported by Geojit |
|---|
| Name of the client |
| Foreign address of the client |
| TIN of the client |
| Account balance or value at the end of the reporting period i.e., the credit balance in their trading account plus the market value of holdings in their demat account. |
Aggregate/Gross: i. Dividend paid/credited ii. Other income paid/credited to the account iii. Amount credited/debited to the account iv. Interest paid/credited- This is generally reported as NIL as Geojit does not have such transactions in client accounts v. Proceeds from the sale of property- This is generally reported as NIL as Geojit does not have such transactions in client accounts. |
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