Form No. 10FC - Authorization for claiming deduction in respect of any payment made to any financial institution located in a notified jurisdictional area
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Authorisation for account access allows tax authorities to obtain financial records and waives data privacy protections. Authorisation for tax authorities to obtain account information and records from a financial institution in a notified jurisdictional area for periods ... Summary
Authorisation for account access allows tax authorities to obtain financial records and waives data privacy protections.
Authorisation for tax authorities to obtain account information and records from a financial institution in a notified jurisdictional area for periods specified in a written notice, with an express waiver of data protection and banking secrecy. Records covered include identity and beneficial owner documents, account opening papers, correspondence, account statements and statements of assets. The form is irrevocable, requires the account holder's signature and identifying number (PAN or Aadhaar), and contemplates notifying the assessing officer.
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