Category: FEMA
Foreign Exchange (Compounding Proceedings) Rules, 2024 notified. Monetary limit enhanced for jurisdiction of officials of RBI/ED Ministry of Finance has notified the Foreign Exchange (Compounding Proceedings) Rules, 2024. The said rules replaces 2000 Rules and have become effective from 12.09.2024 As per the 2024 rules, Director of Enforcement …
Spending on International Credit Card on foreign trip expenses brought under FEMA Rules As per Rule 5 of the the Foreign Exchange Management (Current Account Transactions) Rules, 2000 read with Schedule III, Individuals can avail of foreign exchange facility for specified purposes (i.e. foreign travel/tour, studies abroad, medical …
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 …
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 …
Proceeding against Company Director for FERA contravention. Necessary ingredients are similar to section 141 of Negotiable Instrument Act – SC ABCAUS Case Law Citation:ABCAUS 3343 (2020) (07) SC Important case law relied upon by the parties:S. M. S. Pharmaceuticals Ltd. Vs. Neeta Bhalla and another, (2005) 8 SCC …
Debt and non-debt instruments notified under Foreign Exchange Management Act 1999. Other than notified, others shall be deemed as debt instruments Debt and non-debt instruments under FEMA MINISTRY OF FINANCE(Department of Economic Affairs) NOTIFICATION New Delhi, the 16th October, 2019 S.O. 3722(E).—In exercise of the powers conferred by …
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 …
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 …
