The Finance Ministry has said, it has received information from the US under the financial information exchange pact Foreign Account Tax Compliance Act, FATCA in the last two months. Talking to reporters, Department of Revenue Joint Secretary Akhilesh Ranjan, said government will analyze the received information form US. He added that, FATCA came into effect from September 30 which has enabled automatic exchange of financial information between India and the US. The Inter-Governmental Agreement (IGA) between India and US, signed in July as part of FATCA implementation, requires the Indian Financial Institutions to provide necessary information to Indian tax authorities, which will then be transmitted to the US automatically. The FATCA agreement enhances tax transparency and accountability in matters of financial reporting and payment of taxes which are legitimately due to various governments.