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NR Professionals > News > Foreign Exchange Management Act - FEMA 1999
26 Feb 2022
RBI issues draft proposals to liberalise overseas investments norms

The RBI has placed on its website two documents -- draft Foreign Exchange Management (Non-debt Instruments - Overseas Investment) Rules, 2021 and draft Foreign Exchange Management (Overseas Investment) Regulations, 2021.

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26 Feb 2022
Delhi High Court rejects Subramanian Swamy’s case against Air India sale to Tatas

The division bench of the high court comprising its chief justice DN Patel and Justice Jyoti Singh had heard the arguments and reserved its order on the plea for the sale of Air India on January 4. On January 6, the court delivered its ruling to dismiss the plea.

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  • Posted by: professionalusr
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26 Feb 2022
Annual Return on Foreign Liabilities and Assets (FLA Return) Under FEMA 1999

Annual return on Foreign Liabilities and Assets (FLA) has been notified under FEMA 1999 and it is required to be submitted by all the Indian resident companies which have received FDI and/ or made overseas investment in any of the previous year(s), including the current year.

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26 Feb 2022
Government says 78 foreign companies registered in India last fiscal year

As many as 78 foreign companies were registered in the country under the companies law in the last financial year, according to official data. In 2019-20, a total of 124 foreign companies were registered in India. The count was at 118 in 2018-19.

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26 Feb 2022
India Inc’s overseas direct investment dips over 8% to USD 2.05 bn in Dec 21

The domestic companies had invested USD 2.23 billion in their overseas joint ventures and fully-owned subsidiaries during December 2020 in the previous financial year.

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26 Feb 2022
FPIs will have to furnish residency certificate to avail treaty tax benefit

the withholding tax provisions do not allow Indian companies to apply lower treaty rates while deducting tax at source (TDS) on dividends paid to FPIs

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26 Feb 2022
Corporate – Tax credits and incentives

Tax incentive provisions normally have conditions applicable for the period within which the preferred activity should be undertaken and the period for which the tax incentive is available. It may also be necessary to fulfil certain other conditions, such as ‘forming’ of a ‘new’ undertaking.

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26 Feb 2022
Customer Due Diligence for transactions in Virtual Currencies (VC)

It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular DBR.No.BP.BC.104/08.13.102/2017-18 dated April 06, 2018. Such references to the above circular by banks/ regulated entities are not in order as this circular was set...

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26 Feb 2022
India should free up exchange rate moves: U.S.

“The (Indian) authorities should allow the exchange rate to move flexibly to reflect economic fundamentals, limit foreign exchange intervention to circumstances of disorderly market conditions, and refrain from further significant reserve accumulation,”

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Mr Harshal did excellent job. He delivered the job on time. Harshal not only delivered what I asked for but he explained the th...
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