Category: FEMA

Revision of monetary limit for adjudication under FEMA,1999

Revision of monetary limit for adjudication under FEMA,1999 Ministry of Finance has revised the monetary limits for adjudication under FEMA,1999. As per the new limits, the Ministry has designated officers of the Directorate of Enforcement as the Adjudicating Authorities for holding an inquiry after giving a reasonable opportunity …

InvIT and REIT under FEMA assigned definition as per Income Tax Act 1961

Definition of Infrastructure Investment Trust (InvIT) and Real Estate Investment Trust (REIT) under FEMA aligned to Income Tax Act 1961   RESERVE BANK OF INDIA(Financial Markets Regulation Department)(CENTRAL OFFICE)   NOTIFICATION   Mumbai, the 13th October, 2021 Foreign Exchange Management (Debt Instruments) (First Amendment) Regulations, 2021 No. FEMA.396(1)/2021-RB.—In …

Transfer or Issue of Security by a Person Resident outside India – Regulation

Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2019 RESERVE BANK OF INDIA(Foreign Exchange Department)(CENTRAL OFFICE) NOTIFICATIONMumbai, the 31st January, 2019 No. FEMA. 20(R) (6)/2019-RB Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Amendment) Regulations, 2019 …

Appeals against order of FERA prior 01.06.2000 lie before Appellate Tribunal FEMA- SC

Appellate forum for appeals against order u/s 51 of FERA whether filed prior or after 01.06.2000 is Appellate Tribunal under FEMA – SC ABCAUS Case Law Citation:ABCAUS 2759 (2019) (01) SC The Foreign Exchange Regulation Act, 1973 (FERA) was repealed with effect from 01.06.2000 and replaced by Foreign Exchange Management  Act,  1999 (FEMA). The issue involved in this case was …