If you are an NRI or your friends or family is an NRI and Stays in U.S, just crosscheck that you are disclosing your Indian Mutual Funds investments in all the 3 Documents while filing ITR
1- FBAR
2- FACTA: Form 8938
&
3- Form 8621- PFIC
3rd document has become highly important and getting notices regarding non compliance. Please Consult your Tax Advisor in U.S regarding the same.
Some of my friends are recently facing this issue, if you are not aware of this, you can contact me to my mobile number through whatsapp 9505684685.
I am not an expert in this field, but I don't want my followers to pay 40% Taxes + Penality to U.S Government.
Forward this message to your U.S NRI friends & Family.
If they already knew it, then it is too good.