it will help you to understand this concept very easily.
It contains definition of capital account transaction,explanation of definition, classification of capital account transaction (FDI, Portfolio investment, other investment & reserve account)
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.
To analyse and understand the provisions of Foreign Exchange Management (Adjudication Proceedings And Appeal) Rules, 2000. We shall understand the provisions relating to imposition of penalty, the adjudicating authority, inquiry proceedings and the various aspects of appeal.
it will help you to understand this concept very easily.
It contains definition of capital account transaction,explanation of definition, classification of capital account transaction (FDI, Portfolio investment, other investment & reserve account)
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.
To analyse and understand the provisions of Foreign Exchange Management (Adjudication Proceedings And Appeal) Rules, 2000. We shall understand the provisions relating to imposition of penalty, the adjudicating authority, inquiry proceedings and the various aspects of appeal.
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.
Compounding refers to the process of voluntarily admitting the contravention, pleading guilty and seeking redressal. The Reserve Bank is empowered to compound contraventions under Foreign Exchange Management Act, 1999. In this webinar, we shall understand the provisions of FEMA Act and its regulations relating to Compounding of Offences
B C Shetty & Co., Chartered Accountants are a dominant force when it comes to dealing with International Taxation.
Here we have a small demo of what we do in this regard.
http://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/mir_english_0.pdf
Myanmar Investment Rules-Investment Related Laws of Myanmar-Press Release for the meeting with chairman of Myanmar Investment Commission
It has never been easier or more lucrative to do business in Myanmar. With new laws, special economic zones, a floated Kyat, tax reforms and other sweeping reforms, the door is growing more and more open for investment and trade. This section offers an overview of the laws, reforms and other legal framework surrounding investment and businesses in Myanmar.
Click the following links for more information about…
MYANMAR COMPANIES ACT
FOREIGN INVESTMENT
MYANMAR CITIZEN INVESTMENT
LABOR
STATE OWNED ENTERPRISES
SPECIAL ECONOMIC ZONES
STATE OWNED ENTERPRISES
ENVIRONMENTAL REGULATION
INVESTMENT AGREEMENTS
Overview of major economic laws
In recent years the government of Myanmar has enacted several laws that either replace or build upon its existing legal framework. In the following you will find the most significant existing laws.
Research Interests: Foreign Direct Investment, Myanmar In International Business, and MYANMAR INVESTMENT LAW
FEMA 1999: Objects of FEMA, Definition of important terms – authorized dealer, currency, foreign currency, foreign exchange, foreign security, money laundering, Hawala transactions, Directorate of Enforcement, salient features of the FMEA, offences and penalties.
Environment Protection Act 1986: Objects of the Act, definitions of important terms – environment, environment pollutant, environment pollution, hazardous substance and occupier, types of pollution, global warming, causes for ozone layer depletion, carbon trade, rules and powers of central government to protect environment in India.
Patent Act 1970: Meaning, scope of intellectual properties, amendments as per WTO agreements background, objects, definition – inventions, patentee, true and first inventor, procedure for grant of process and product patents, rights to patentee, infringement, remedies, Patent Act 2005.
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.
Compounding refers to the process of voluntarily admitting the contravention, pleading guilty and seeking redressal. The Reserve Bank is empowered to compound contraventions under Foreign Exchange Management Act, 1999. In this webinar, we shall understand the provisions of FEMA Act and its regulations relating to Compounding of Offences
B C Shetty & Co., Chartered Accountants are a dominant force when it comes to dealing with International Taxation.
Here we have a small demo of what we do in this regard.
http://www.dica.gov.mm/sites/dica.gov.mm/files/document-files/mir_english_0.pdf
Myanmar Investment Rules-Investment Related Laws of Myanmar-Press Release for the meeting with chairman of Myanmar Investment Commission
It has never been easier or more lucrative to do business in Myanmar. With new laws, special economic zones, a floated Kyat, tax reforms and other sweeping reforms, the door is growing more and more open for investment and trade. This section offers an overview of the laws, reforms and other legal framework surrounding investment and businesses in Myanmar.
Click the following links for more information about…
MYANMAR COMPANIES ACT
FOREIGN INVESTMENT
MYANMAR CITIZEN INVESTMENT
LABOR
STATE OWNED ENTERPRISES
SPECIAL ECONOMIC ZONES
STATE OWNED ENTERPRISES
ENVIRONMENTAL REGULATION
INVESTMENT AGREEMENTS
Overview of major economic laws
In recent years the government of Myanmar has enacted several laws that either replace or build upon its existing legal framework. In the following you will find the most significant existing laws.
Research Interests: Foreign Direct Investment, Myanmar In International Business, and MYANMAR INVESTMENT LAW
FEMA 1999: Objects of FEMA, Definition of important terms – authorized dealer, currency, foreign currency, foreign exchange, foreign security, money laundering, Hawala transactions, Directorate of Enforcement, salient features of the FMEA, offences and penalties.
Environment Protection Act 1986: Objects of the Act, definitions of important terms – environment, environment pollutant, environment pollution, hazardous substance and occupier, types of pollution, global warming, causes for ozone layer depletion, carbon trade, rules and powers of central government to protect environment in India.
Patent Act 1970: Meaning, scope of intellectual properties, amendments as per WTO agreements background, objects, definition – inventions, patentee, true and first inventor, procedure for grant of process and product patents, rights to patentee, infringement, remedies, Patent Act 2005.
This material is for PGPSE / CSE students of AFTERSCHOOOL. PGPSE / CSE are free online programme - open for all - free for all - to promote entrepreneurship and social entrepreneurship PGPSE is for those who want to transform the world. It is different from MBA, BBA, CFA, CA,CS,ICWA and other traditional programmes. It is based on self certification and based on self learning and guidance by mentors. It is for those who want to be entrepreneurs and social changers. Let us work together. Our basic idea is that KNOWLEDGE IS FREE & AND SHARE IT WITH THE WORLD
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.
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
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.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Normal Labour/ Stages of Labour/ Mechanism of LabourWasim Ak
Normal labor is also termed spontaneous labor, defined as the natural physiological process through which the fetus, placenta, and membranes are expelled from the uterus through the birth canal at term (37 to 42 weeks
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
2. • FEMA 1999: Objects of FEMA, definition of important terms – authorized dealer, currency, foreign currency,
foreign exchange, foreign security, Directorate of Enforcement, salient features of the FEMA, offences and
penalties,
• Environment Protection Act, 1986: Objects of the Act, definitions of important terms – environment, environment
pollutant, environment pollution, hazardous substance and occupier, types of pollution, global warming, causes
for ozone layer depletion, carbon trade, rules and powers of central government to protect environment in India.
Economic and Environmental Laws - FEMA 1999
3. To have in depth knowledge about the FEMA 1999
To have in depth knowledge about Environment Protection Act, 1986
Learning Objectives
6. • FEMA – modification of FERA
• Increase in Foreign Exchange
• Growth Foreign Trade
• Current a/c Convertability
• Liberalise Investment
• Access to the commercial borrowing
• Encourage Foreign intuitional investors
Introduction
7. Scope - whole of India
Objectives:
• External trade payment
• Restrict current a/c
• Promote foreign market
• Flow of capital a/c for permitted transactions
Scope & Objectives
8. Sec. 3 Dealing in Foreign exchange
Sec. 4 Restriction on holding of foreign exchange
Sec. 5 Current a/c transactions
Sec. 6 Capital a/c transactions
Sec. 7 export of goods and services
Sec.8 Realisation and repatriation of foreign
exchange
Sec.10 Authorised person
Sec.13 Contravention and penalties
Sec.14Enforcement of the orders of adjudicating
authority
Sec. 46 Powers to make rules
Main Provisions of the Act
9. Dealing in Foreign Exchange
(Section 3)
(a) Deal in or transfer any foreign exchange or
foreign security to any person not being
authorized person.
(b) Make any payment to or for the credit of any
person resident outside India in any manner.
(c) Receive otherwise through an authorised
person, any payment by order or on behalf of any
person resident out side India in any manner.
(d) Enter into any financial transactions in India
as consideration for or in association with
acquisition or creation or transfer of a right to
acquire, any asset outside India by any person.
Restriction on Holding of Foreign
Exchange [Section – 4]
No person resident – in India shall
acquire, hold, own, posses or transfer any
foreign exchange, foreign security or any
immovable property situated out side
India .
10. Current Account transactions [Section – 5]
According to section 2(J) “Current Account
Transaction” means a transaction other than
a capital account transaction.
It include following:-
– Payment due in connection with foreign
trade, other current business services and
short term banking and credit facilities in the
ordinary course of business.
– Payments due as interest on loans and
as net income from investments
– Remittances for living expenses of
parents, spouse and children residing
abroad
– Expenses in connection with foreign
travel, education and medical care of
parents, spouse and children.
NO RESTRICTIONS UNLESS
SPECIFIED
Payment for imports of goods which
are permitted under Open General
Licence.
Export Commission with exceptions.
Advertisement abroad, except TV
advertisement in foreign country.
PROHIBITED CURRENT ACCOUNT
TRANSACTIONS.
Drawal for travel to Nepal or Bhutan
Remittance out of lottery winnings
Remittance of income from
racing/riding etc. or any other hobby
Remittance for purchase of lottery
tickets, etc.
11. Capital account transactions [Section 6]
According to Section 2(e) ‘capital account
transaction’ means and includes:
A transaction which alters the assets or
liabilities, including contingent liabilities,
outside India of persons resident in India
A transaction which alters the assts or
liabilities in India of persons resident
outside India
Transfer or issue of any foreign security
by a person resident in India
Transfer or issue of any security by a
person resident outside India.
Export, import or holding of currency or
currency notes
Sec. 5(4)(2) Permissible Capital Account
transactions by persons resident in India.
Investment in foreign securities by a person
resident in India.
Foreign currency loans raised in India and
abroad by a person resident in India.
Sec. 5(4)(3) Permissibble Capital
Account transactions by persons
resident outside India.
Deposits between a person resident
in India and a person resident
outside India
Foreign currency accounts in India
of a person resident outside India
12. Export of Goods and Services
Section 7 of foreign Exchange
Management Act
Every exporter of goods shall Furnish
to the Reserve Bank or to such other
authority a declaration
Exemption from realisation and
repatriation Section (9)
Provides exemption from provisions of
section 4 & 8 in the following cases:
Possession of foreign currency or
foreign coins by any person up to
such limit as the Reserve Bank may
specify.
Foreign currency account held or
operated by such person or class of
persons and the limit up to which the
Reserve Bank may specify.
13. Authorised Person (Section – 10)
Only a person appointed by RBI can
deal in foreign exchange or in foreign
securities as an authorised dealer.
No payment can be made to a person
resident out side India, without the
permission of RBI.
No one can receive any payment from
a person resident out side India without
the permission of Reserve Bank.
Contravention & Penalties [Section – 13]
If any person contravenes any provisions
of FEMA – he be liable to a penalty up to
“Thrice” the sum involved in such
contravention where such amount is
quantifiable.
Up to two lakhs where the amount is not
quantifiable.
If contravention is continues everyday
further penalty which may extend to Rs.
5,000/- for every day after the first day
during which contravention continues on
him within a period of 90 days, he shall be
liable to civil imprisonment.
14. Enforcement of the Orders of
Adjudicating Authority (Section–14)
Civil Imprisonment for failure to
deposit penalty amount
Show cause notice before arrest and
detention
Warrant for Arrest if defaulter libely to
Abscond
Time Limit for producing Arrested
Person
Show Cause notice before
committing to Civil Prison
Detention of Person pending enquiry
Procedure upon Conclusion of
Enquiry: Release
Period of Imprisonment
Release not to discharge from
liability for Arrears
Detention order can be executed
anywhere in India.
POWER TO MAKE RULES (SECTION - 46)
The imposition of reasonable
restrictions on current account
transactions
The manner in which the
contravention may be compounded
under section 15
The manner of holding an inquiry by
the Adjudicating Authority
17. • Enacted on 23rd May 1986
• Scope- Extents whole of India
• Co-Ordination of activities with various regulatory agencies
• High revel authority to protect environment protection
• Regulate handing of hazardous substances Administer speedy response
• Deterrent punishment for endangering human environment.
Scope and Objectives
18. Co-ordination with
State Government
Standard for emission or
discharge of environment
pollutants
Sponsoring investigations &
research for environment
pollution
Planning &
execution nationwide
Procedures to
prevent
accidents
Inspection of premises,
plant, equipment
machinery
Standard for quality
environment
Examination of
manufacture processes
causing environmen -
tal pollution
Establishment /
recognition of
environmental
laboratories
Preparation of
manual codes
guides for
prevention/ control
Powers of Central Government
19. • Appointment of offices and their powers and functions
• Rules to regulate environmental pollution
i) Emission or discharge of environmental pollutants
ii) Handling hazardous substance
iii) Furnishing of information to authorities and agencies in certain cases
PREVENTION, CONTROL AND ABATEMENT OF ENVIRONMENTAL POLLUTION
20. • Powers of entry and inspection
• Power to take sample and Procedure to be followed in connection there with
• Environmental laboratories
• Government Analysts
• Reports of Government Analysts
• Penalties
• Section 16-Offences by companies:
• Section-17 Offences by Government Departments
21. • Sec. 18. Protection of action taken in good faith:
• Sec. 19. Cognizance of offence:
• Sec. 20. Information, reports or returns:
• Sec. 21. Members, officers and employees of the authority, constituted under section 3 to be public servants:
• Sec. 22. Bar of jurisdiction:
• Sec. 23. Power to delegate:
• Sec. 24. Effect of other laws:
• Sec. 25. Power to make rules:
• Sec. 26. Rules made under this Act to be laid before Parliament
MISCELLANEOUS
22.
23.
24. (1) Subject to the provisions of this Act, the Central Government shall have the power to take all such measures as it deems necessary or expedient for the purpose
of protecting and improving the quality of the environment and preventing controlling and abating environmental pollution.
(2) In particular, and without prejudice to the generality of the provisions of sub-section (1), such measures may include measures with respect to all or any of the
following matters, namely:
(i) Co-ordination of actions by the State Governments, officers and other authorities: (a) Under this Act, or the rules made there under, or (b) Under any other law
for the time being in force which is relatable to the objects of this Act;
(ii) Planning and execution of a nation-wide programme for the prevention, control and abatement of environmental pollution; (
iii) Laying down standards for the quality of environment in its various aspects;
(iv) Laying down standards for emission or discharge of environmental pollutants from various sources whatsoever: Provided that different standards for emission
or discharge may be laid down under this clause from different sources having regard to the quality or composition of the emission or discharge of environmental
pollutants from such sources;
(v) Restriction of areas in which any industries, operations or processes or class of industries, operations or processes shall not be carried out or shall be carried out
subject to certain safeguards;
(vi) Laying down procedures and safeguards for the prevention of accidents which may cause environmental pollution and remedial measures for such accidents;
(vii) Laying down procedures and safeguards for the handling of hazardous substances; Economic & Environmental Laws - FEMA 1999 289
(viii)Examination of such manufacturing processes, materials and substances as are likely to cause environmental pollution;
(ix) Carrying out and sponsoring investigations and research relating to problems of environmental pollution;
Powers of central government to protect environment in India
25. x) Inspection of any premises, plant, equipment, machinery, manufacturing or other processes, materials or
substances and giving, by order, of such directions to such authorities, officers or persons as it may consider
necessary to take steps for the prevention, control and abatement of environmental pollution;
(xi) Establishment or recognition of environmental laboratories and institutes to carry out the functions entrusted
to such environmental laboratories and institutes under this Act;
(xii) Collection and dissemination of information in respect of matters relating to environmental pollution;
(xiii)Preparation of manuals, codes or guides relating to the prevention, control and abatement of environmental
pollution;
(xiv)Such other matters as the Central Government deems necessary or expedient for the purpose of securing the
effective implementation of the provisions of this Act.
(3) The Central Government may, if it considers it necessary or expedient so to do for the purpose of this Act, by
order, published in the Official Gazette, constitute an authority or authorities by such name or names as may be
specified in the order for the purpose of exercising and performing such of the powers and functions (including the
power to issue directions under section 5) of the Central Government under this Act and for taking measures with
respect to such of the matters referred to in sub-section (2) as may be mentioned in the order and subject to the
supervision and control of the Central Government and the provisions of such order, such authority or authorities may
exercise and powers or perform the functions or take the measures so mentioned in the order as if such authority or
authorities had been empowered by this Act to exercise those powers or perform those functions or take such
measures.
Continued…