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 of being heard for the purpose of imposing any penalty under section 13 of the said Act.
The Table showing the Revision of monetary limit for adjudication under FEMA,1999 is as under:
| Sl. No. | Designation of Officers | Monetary limit |
| (1) | (2) | (3) |
| 1 | Special Director of Enforcement | Cases involving amount exceeding rupees twenty five crores |
| 2 | Additional Director of Enforcement | Cases involving amount upto rupees twenty five crores but not less than five crores |
| 3 | Joint Director of Enforcement | Cases involving amount upto rupees twenty five crores but not less than five crores |
| 4 | Deputy Director of Enforcement | Cases involving amount upto rupees five crores and not less than two crores |
| 5 | Assistant Director of Enforcement | Cases involved of amount not exceeding rupees two crores |
Mere CBDT Instructions cannot absolve individuals of their obligation to explain the source and nature of their gold holdings, even…
Empanelment of General Observers for ICSI Examinations December 2026 ICSI has invited interested members to enroll as General Observers for…
ITAT answers some important and inter-related issues relating to deduction u/s 80IA In a recent judgment, ITAT has dealt with…
Carry forward of loss can not be denied for belated return, it is only the set off in subsequent year…
Where sales are duly recorded in books and VAT returns, to treat it bogus sales, AO must bringing cogent adverse…
Expenses to celebrate Diwali with staff creates a goodwill and, therefore amounts to expenses incurred for the purpose of business…