The Foreign Exchange Management Act (FEMA) was introduced in 1999 to replace the Foreign Exchange Regulation Act (FERA) of 1973 and facilitate India's external trade and payments. FEMA aims to promote orderly development and maintenance of foreign exchange markets in India through proper regulation. It regulates transactions involving foreign exchange in India and oversees important matters like dealings in foreign exchange, payments to and receipts from overseas entities, and holding of foreign currency. FEMA also governs capital account transactions, export and import of goods/services, realization of foreign exchange proceeds, and contraventions and penalties. The Reserve Bank of India is primarily responsible for administering FEMA rules and regulations in consultation with the central government.
Objectives and definitions under FEMA,
1999,current account transactions and
capital account transactions, establishment
of branch, office etc. in India, realization
and repatriation of foreign exchange,
authorized person, penalties and
enforcement, foreign contribution
(Regulation)Act, 2010.
Objectives and definitions under FEMA,
1999,current account transactions and
capital account transactions, establishment
of branch, office etc. in India, realization
and repatriation of foreign exchange,
authorized person, penalties and
enforcement, foreign contribution
(Regulation)Act, 2010.
Foreign exchange is applicable on all type of foreign inflow in the India. Fema is applicable venture funding in india. all investment by NRI in india subject to FEMA regulations.
This presentation explains the impact of both India Foreign Exchange Laws and the India Transfer Pricing Regulations on the import and export transactions done with an Indian Entity.
Foreign exchange is applicable on all type of foreign inflow in the India. Fema is applicable venture funding in india. all investment by NRI in india subject to FEMA regulations.
This presentation explains the impact of both India Foreign Exchange Laws and the India Transfer Pricing Regulations on the import and export transactions done with an Indian Entity.
Results Rule: How to Sell Anything to Anyone in Oil & Gas - James Hahn [Energ...Energy Digital Summit
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Objectives & Agenda :
The Regulations under FEMA regulate a transaction based on whether the transaction is a 'Capital Account Transaction' or a 'Current Account Transaction'. In this Webinar we shall understand the Definition of the terms 'Capital Account Transactions' and 'Current Account Transactions'. We will also look at various transactions covered and the limits applicable to such transactions.
Acquisition & Transfer of Immovable Property by NRI /OCI FEMA & Income Tax Im...DVSResearchFoundatio
OBJECTIVE:
Get a comprehensive understanding of the income tax implications on Joint Developments Agreements under the provisions of Income Tax Act. Further dwell upon the rules pertaining to FDI on Real Estate Sector under FEMA.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Operation “Blue Star” is the only event in the history of Independent India where the state went into war with its own people. Even after about 40 years it is not clear if it was culmination of states anger over people of the region, a political game of power or start of dictatorial chapter in the democratic setup.
The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
2. FEMA Prof. Parul Gupta 2
• Objectives
To facilitate external trade and
payments
To promote the orderly development
and maintenance of foreign
exchange market
3. FEMA Prof. Parul Gupta 3
• Introduction: -
Foreign exchange transactions were
regulated by Foreign exchange regulation
act (FERA), 1973
Following the liberalization ushered in
1991 some amendments were made to
FERA in 1993 there was a lot demand to
bring certain major changes in FERA in the
light of economic changes took place
Consequently a new act was formed to
replace FERA, known as Foreign exchange
management act (FEMA), 1999
5. FEMA Prof. Parul Gupta 5
Holding of Foreign Exchange:-
No person resident in India shall acquire, hold, own,
possess or transfer any foreign exchange/foreign
security or any immovable property situated
outside India
Current account Transactions:-
-Act permits dealing in foreign exchange through
authorized persons for current account
transactions.
-Central Government can impose reasonable
restrictions in public interest with this regard
7. FEMA Prof. Parul Gupta 7
(e) Any borrowing or lending in rupees in whatever form
or whatever name called between a person resident in
India and a person resident outside India;
(f) Deposits between persons resident in India and a
person resident outside India
(g) Export, Import or holding of currency or currency
notes
(h) Transfer of immovable property outside India other
than a lease not exceeding five years by a person
resident outside India
(i) Acquisition or transfer of immovable property in India
other than a lease not exceeding five years by a person
resident outside India
(j) Giving of guarantee or surety in respect of any debt
obligation or the liability
1. By a person resident in India and owed to a person
resident outside India
or
2. By a person resident outside India
8. FEMA Prof. Parul Gupta 8
Export of goods and services
Every exporter of goods shall famish to the RBI or to such other
authority the following
(a)A declaration specified
1. True and correct material particulars
2. Amount representing the value of full export of goods
3. The time of the export
4. The value which exporter having regard to the prevailing market
conditions expects to receive on the sale of the goods in a market
outside India
(b) Other information
-That may be required by RBI for the purpose of ensuring the
realization of the export proceeds by such exporter
- Every exporter of the services shall furnish to the RBI or to such
other authorities a declaration as specified, containing the true
and correct material particulars in relation to the payment for such
services
9. FEMA Prof. Parul Gupta 9
Realization and Repatriation of foreign
exchange:-
Any person in this concern shall have to follow
the reasonable steps to realize and repatriate it
to India with or with in the time in the manner
prescribed by the act
Contravention and penal ties:-
• For any kind of contravention under this act
defaulter is liable to pay up to thrice the
amount involved where it is quantifiable Up to
Rs. 2 lakhs Where not quantifiable
• If such contravention is continued further
penalty which may extend to Rs. 5,000 for
every day after the first day
10. FEMA Prof. Parul Gupta 10
Administration of the Act
- The rules regulations and norms pertaining to many sections are
laid down by RBI in consultation with central Government.
- The Act requires central Government to appoint,
• Adjudicating Authorities for holding enquires related to the
contravention of the Act
• one or more Special Directors (appeals) to hear appeals against
the order of the Adjudicating authorities
- Central Government shall have to establish
1. An Appellate Tribunal for foreign Exchange to hear appeals against
the order of the Adjudicating Authorities and the Special Directors
2. A Director of Enforcement with a Director and such officers or
class of officers as it thinks fit for taking up for investigation the
contravention under this Act
11. FEMA Prof. Parul Gupta 11
FERA V/s FEMA:-
1. In FEMA only the specified acts related to
foreign exchange are regulated while in FERA
anything and everything that has to do with
foreign exchange was controlled
2. The objective of FEMA is to facilitate trade while
that of FERA is to prevent misuse
1. FEMA is a much smaller enactment only 49
sections against 81 sections of FERA