fema

Need for amendment in Section 206AA for non-resident investors of ‘Masala bonds’

Income Tax - Non-resident investors have recently shown a great deal of interest in subscribing to Masala Bonds issued by Indian corporates. Masala Bonds is the informal name of Rupee-denominated bonds (RDB) issued by Indian corporates outside India. ...

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Understanding Basic Terms NRI/PIO/OCI & Steps to Start a Business In India

Income Tax - To understand how to start a business in India if you are an NRI/PIO/OCI, we should firstly get well conversant with the meaning of the terms NRI/PIO/OCI. Difference between NRI/PIO/OCI...

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Foreign Direct Investment in LLP

Income Tax - In this Flash editorial, the auditor begins by referring the powers of RBI for amendment in Regulation, 2000. The main thrust of the article, however, is upon the provisions / regulations of Foreign Direct Investment in Limited Liability Partnership ...

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Know more on Overseas Direct Investment (ODI) with more & more Indian Co.’s going global

Income Tax - ODI primarily refers to a situation in which an Indian party is willing to acquire stake or some other form of a financial commitment, partially or wholly, in an overseas company....

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FAQs on Foreign Investments in India

Income Tax - These FAQs attempt to put in place the common queries that users have on the subject in an easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued thereunder may be referred to. The relevant principal regulations are the Foreign Exch...

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SIT directs ED to take action against Export Companies

Income Tax - SIT directs Enforcement Directorate to take necessary action under FEMA with respect to 216 Companies for the period before 1st March, 2016 and against 572 Companies for the period after 1st March, 2016 for which each such Company had export proceeds pending for realisation for more than Rs. 100 crore....

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NRIs can now join & subscribe to NPS online through eNPS

Income Tax - NRIs have a pivotal role to play in the Indian economy. India has the second-largest Diaspora in the world, with around 29 million people living in over 200 countries and out of these 25% live in the Gulf countries. Most of the Indians going to the Gulf and some other countries go for employment and return to India after having worked abr...

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Review of FDI Policy on investments by NRIS, PIOs, OCIs

Income Tax - Review of Foreign Direct Investment (FDI) Policy on investments by Non-Resident Indians (NRIs), Persons of Indian Origin (PIOs) and Overseas Citizens of India (OCIs) The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to review of Foreign Direct Investment (FDI) Policy on investments by Non-Resident...

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Relaxation in Rules for Foreign Investors in Exchange Traded Currency Derivatives

Income Tax - In terms of Reserve Bank of India’s A.P. (DIR Series) Circular No. 91 dated march 31, 2015 and SEBI’s CIR/MRD/DP/04/2015 dated April 8, 2015 following relaxations have been made: • Foreign Portfolio Investors (FPIs) have been allowed to take positions (long as well as short) in USD-INR pair up to USD 15 million per exchange [&hellip...

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REITs approved as eligible financial instrument / structure under FEMA

Income Tax - Introduction of Real Estate Investment Trusts (REITs) as an eligible financial instrument / structure under Foreign Exchange Management Act (FEMA) 1999 The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to allow the Real Estate Investment Trusts (REITs) as an eligible financial instrument / structu...

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PML Act, 2002 Provisions cannot be invoked Retrospectively

M/s Obulapuram Mining Company Pvt Ltd Vs Joint Director (Karnataka High Court) - By consent of the learned advocates appearing for the parties, all these writ petitions are taken up for hearing together, as similar questions of law are involved in these writ petitions, in order to avoid a conflicting judicial opinion. We are also informed that facts are, almost, identical....

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Members cannot be appointed part-time to Fema Tribunal

Rule 2 (1) (b) provides the qualification to be a Member. Needless to say, the same is in total accord with the Act. The first proviso to Rule 5 introduces part time Member. We have held that the said proviso, as far as it introduces the concept of part time Member, is contrary to the provision cont...

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FEMA – Claim for interest in the nature of compensation for wrongful retention of money is not maintainable

Directorate Of Enforcement Vs. Subhash Muljimal Gandhi (Delhi High Court) - Directorate of Enforcement Vs. Subhash Muljimal Gandhi ( Delhi HC)- that interest at the rate of 6% per annum under Rule 8 could have been awarded to the respondent on the seized Indian currency only. The learned Single Judge has however applying the said Rule also awarded interest on the seized fo...

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SC asks Ketan Ketan Parikh and Co to Deposit deposit 50 percent of penalty imposed for Fema violations

Ketan V. Parekh Vs. Special Director, Directorate of Enforcement and another (Supreme Court)- Ketan Parikh, Kartik Parikh and M/s. Panther Fincap and Management Services Ltd, were imposed a penalty of Rs. 80 Crores, 12 Crores and 40 Crores respectively by the Special Director of Enforcement, Mumbai ...

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Section 45(1A) of the Prevention of Money Laundering Act, 2002 – Binod Kumar Versus State of Jharkhand & Others

Binod Kumar Versus State of Jharkhand & Others- In the impugned judgment, it is mentioned that the basic allegation is amassing of illicit wealth by various former Ministers, including a former Chief Minister of the State. The money alleged to have been so earned is of unprecedented amounts. However...

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Multilateral and Regional Financial Institutions permitted to invest in Rupee denominated bonds overseas

RBI/2016-17/233 A. P. (DIR Series) Circular No.31 - (16/02/2017) - In order to provide more choices of investors to Indian entities issuing Rupee denominated bonds abroad, it has been decided to also permit Multilateral and Regional Financial Institutions where India is a member country, to invest in these Rupee denominated bonds....

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Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eighteenth Amendment) Regulations, 2016

Notification No FEMA 381/2016-RB - (07/12/2016) - These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (Eighteenth Amendment) Regulations, 2016....

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Prevention of Money-laundering (Appeal) Amendment Rules, 2016

Notification No. 5/2016 - (06/12/2016) - 1. (1) These rules may be called the Prevention of Money-laundering (Appeal) Amendment Rules, 2016. (2) They shall come into force on the date of their publication in the Official Gazette....

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Reg. Limit for acceptance of cash from Foreign Tourist

RBI/2016-17/113 A.P. (DIR Series) Circular No. 16 - (09/11/2016) - At international airports, for arriving and departing passengers, who possess specified bank notes, the value of which does not exceed five thousand rupees to exchange them for notes which are legal tender;...

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External Commercial Borrowings– Clarifications on hedging

RBI/2016-17/110 A.P. (DIR Series) Circular No. 15 - (07/11/2016) - Wherever hedging has been mandated by the RBI, the ECB borrower will be required to cover principal as well as coupon through financial hedges. ...

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Recent Posts in "fema"

Need for amendment in Section 206AA for non-resident investors of ‘Masala bonds’

Non-resident investors have recently shown a great deal of interest in subscribing to Masala Bonds issued by Indian corporates. Masala Bonds is the informal name of Rupee-denominated bonds (RDB) issued by Indian corporates outside India. ...

Read More
Posted Under: Fema / RBI |

Understanding Basic Terms NRI/PIO/OCI & Steps to Start a Business In India

To understand how to start a business in India if you are an NRI/PIO/OCI, we should firstly get well conversant with the meaning of the terms NRI/PIO/OCI. Difference between NRI/PIO/OCI...

Read More
Posted Under: Fema / RBI |

PML Act, 2002 Provisions cannot be invoked Retrospectively

M/s Obulapuram Mining Company Pvt Ltd Vs Joint Director (Karnataka High Court)

By consent of the learned advocates appearing for the parties, all these writ petitions are taken up for hearing together, as similar questions of law are involved in these writ petitions, in order to avoid a conflicting judicial opinion. We are also informed that facts are, almost, identical....

Read More

Foreign Direct Investment in LLP

In this Flash editorial, the auditor begins by referring the powers of RBI for amendment in Regulation, 2000. The main thrust of the article, however, is upon the provisions / regulations of Foreign Direct Investment in Limited Liability Partnership ...

Read More
Posted Under: Fema / RBI |

Know more on Overseas Direct Investment (ODI) with more & more Indian Co.’s going global

ODI primarily refers to a situation in which an Indian party is willing to acquire stake or some other form of a financial commitment, partially or wholly, in an overseas company....

Read More
Posted Under: Fema / RBI |

FAQs on Foreign Investments in India

These FAQs attempt to put in place the common queries that users have on the subject in an easy to understand language. However, for conducting a transaction, the Foreign Exchange Management Act, 1999 (FEMA) and the Regulations made or directions issued thereunder may be referred to. The relevant principal regulations are the Foreign Exch...

Read More
Posted Under: Fema / RBI |

Multilateral and Regional Financial Institutions permitted to invest in Rupee denominated bonds overseas

RBI/2016-17/233 A. P. (DIR Series) Circular No.31 (16/02/2017)

In order to provide more choices of investors to Indian entities issuing Rupee denominated bonds abroad, it has been decided to also permit Multilateral and Regional Financial Institutions where India is a member country, to invest in these Rupee denominated bonds....

Read More

Capital Infusion and Reporting Requirements

Capital infusion refers to the process whereby funds are injected into startup companies or large companies by an investor with a financial interest in the company. Capital infusion also refers to the process of transferring money from a successful unit, division or subsidiary of a company to another unit that is not doing well with the a...

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Posted Under: Fema / RBI |

RBI Delegates additional power to its Regional Offices

RBI being the apex Bank of India regulating the Banking Sector and Non-Banking Financial Sector cannot perform all the functions at its Head office. Following were the powers delegated earlier in connection with the contravention of FEMA 1. Delay in reporting inward remittance...

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Posted Under: Fema / RBI |

Transfer of shares from NRI to NRI

As per Sec. section 9(1)(i)(d) of the Act, any income accruing or arising, whether directly or indirectly, through the transfer of a capital asset situated in India is deemed to accrue or arise in India....

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Posted Under: Fema / RBI |
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