India clarifies FDI norms by linking beneficial ownership to PML Rules. Investments exceeding 10% ownership now require government approval.
The proposed amendments rationalise tax provisions, simplify reporting rules, and introduce clearer deductions and exemptions. The reforms aim to improve voluntary compliance and reduce tax disputes.
The 2026 amendment replaces rigid interest rate ceilings with market-determined pricing. The reform expands borrowing flexibility and aligns India’s external borrowing framework with global financing practices.
FAST-DS 2026 targets inadvertent non-reporting such as dormant bank accounts or foreign RSUs. It allows clean-up at a significantly lower cost with legal certainty.
The Tribunal held that while overseas remittances under LRS may be lawful, their end-use must comply with FEMA regulations. LRS cannot override statutory restrictions on foreign lending or account holding.
The SAFEMA Appellate Tribunal held that NRIs cannot buy agricultural land in India, regardless of intended non-agricultural use. Penalty reduced due to bona fide conduct.
Appellate Tribunal reduced a FEMA penalty against an NRI who received property sale proceeds in a resident account, citing the lack of fraudulent intent.
An appellate tribunal upheld a penalty on an NRI for purchasing agricultural land, dismissing arguments on the ‘omission vs. repeal’ of a key FEMA provision.
FEMA Tribunal upholds Special Director Appeals decision, ruling British national was ‘resident in India’ when buying properties in Goa.
Delhi High Court upheld a significant penalty imposed by the Reserve Bank of India (RBI) under the Foreign Exchange Management Act (FEMA), 1999, highlighting the strict compliance requirements and severe financial consequences for violations.
