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 |
Penalty u/s 271B for unfilled column 40 in Form 3CD related to details regarding turnover, gross profit etc. for previous…
Merely rectifying computation without amending assessment order without notice to assessee does not nullify the entire assessment - ITAT In…
Once assessee discharges primary onus of providing basic documents in support of the identity, genuineness and the creditworthiness it shifts…
CBDT has notified Cost Inflation Index for Financial Year / Tax Year 2026-27 CBDT has notified "384" as Cost Inflation…
Power of CIT(A) under section 251(1)(a) to remand case could be exercised only when the assessment is passed u/s 144…
ICAI (Global Networking) Guidelines, 2025 kept in abeyance In February 2026, ICAI had issued ICAI (Global Networking) Guidelines 2025 to…