Taxmann's FEMA & FDI Ready Reckoner

CONTENTS

E G A P

ACRONYMS USED IN FEMA & FDI

I-9

CHAPTER 1 FEMA - OVERVIEW

1

CHAPTER 2 AUTHORISED PERSON UNDER FEMA

8

CHAPTER 3 ACCOUNTS IN INDIA BY PERSON RESIDENT OUT OF INDIA

16

CHAPTER 4 ACCOUNTS OF INDIAN RESIDENTS IN FOREIGN CURRENCY

29

CHAPTER 5 RECEIPT AND PAYMENT IN FOREIGN EXCHANGE

40

CHAPTER 6

REALISATION, REPATRIATION AND SURRENDER OF FOREIGN EXCHANGE 45 CHAPTER 7 MONEY CHANGING ACTIVITIES

48

CHAPTER 8 MONEY TRANSFER SERVICE SCHEME (MTSS)

60

CHAPTER 9 POSSESSION AND RETENTION OF FOREIGN CURRENCY

66

CHAPTER 10 EXPORT AND IMPORT OF CURRENCY OR CURRENCY NOTES

67

CHAPTER 11 REMITTANCES ON CURRENT ACCOUNT I-5

71

S T N E T N O C

I-6 E G A P

CHAPTER 12 LIBERALISED REMITTANCE SCHEME (LRS)

86

CHAPTER 13 EXPORT OF GOODS AND SERVICES

94

CHAPTER 14 IMPORT OF GOODS AND SERVICES

133

CHAPTER 15 PROJECT EXPORTS AND SERVICE EXPORTS

155

CHAPTER 16 FOREIGN EXCHANGE RATES

157

CHAPTER 17 OVERVIEW OF CAPITAL ACCOUNT TRANSACTIONS

164

CHAPTER 18 FOREIGN INVESTMENT IN INDIA

169

CHAPTER 19 FDI IN INDIAN COMPANY

178

CHAPTER 20 SECTOR WISE FDI POLICY AT A GLANCE

199

CHAPTER 21 FDI - DOWNSTREAM INVESTMENT I.E. INDIRECT INVESTMENT

208

CHAPTER 22

FDI THROUGH RIGHTS, BONUS, SWEAT EQUITY OR MERGER/ AMALGAMATION 215 CHAPTER 23 FDI - TRANSFER OF SECURITIES

221

CHAPTER 24 FDI IN LLP

236

CHAPTER 25 FDI IN GDR/ADR

239

CHAPTER 26 INVESTMENT BY NRI OR OCI

245

S T N E T N O C

I-7

E G A P

CHAPTER 27 FDI IN STARTUP COMPANY

259

CHAPTER 28 INVESTMENT BY FOREIGN PORTFOLIO INVESTOR

262

CHAPTER 29 FDI IN INVESTMENT VEHICLE

269

CHAPTER 30 FDI BY FVCI

272

CHAPTER 31

FDI - INVESTMENT IN SECURITIES BY FUNDS, FOREIGN CENTRAL BANK ETC. 275 CHAPTER 32 INVESTMENT BY INDIAN ENTITY IN JV/WOS ABROAD

277

CHAPTER 33 GUARANTEES

306

CHAPTER 34 INSURANCE

311

CHAPTER 35 BORROWING AND LENDING IN FOREIGN CURRENCY

319

CHAPTER 36 BORROWING AND LENDING IN INDIAN RUPEES

324

CHAPTER 37 FOREIGN INVESTMENT IN DEBT INSTRUMENTS

331

CHAPTER 38 EXTERNAL COMMERCIAL BORROWINGS

342

CHAPTER 39 TRADE CREDIT (TC) AND STRUCTURED OBLIGATIONS

358

CHAPTER 40 ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY IN INDIA 365

S T N E T N O C

I-8 E G A P

CHAPTER 41

ACQUISITION AND TRANSFER OF IMMOVABLE PROPERTY OUT OF INDIA 371 CHAPTER 42 REMITTANCE OF ASSETS

373

CHAPTER 43 BRANCH/LO/PROJECT OFFICE IN INDIA BY FOREIGN ENTITIES

377

CHAPTER 44 INDIAN DEPOSITORY RECEIPTS

393

CHAPTER 45 RISK MANAGEMENT AND INTER-BANK DEALINGS

400

CHAPTER 46 VOSTRO ACCOUNT OF NON-RESIDENT EXCHANGE HOUSES

403

CHAPTER 47 INDUSTRIAL POLICY OF GOVERNMENT OF INDIA

406

CHAPTER 48 ENFORCEMENT OF FEMA

412

CHAPTER 49 PENALTIES UNDER FEMA

415

CHAPTER 50 APPEALS UNDER FEMA

421

CHAPTER 51 COMPOUNDING OF CONTRAVENTIONS UNDER FEMA

425

CHAPTER 52 PREVENTION OF MONEY LAUNDERING ACT

437

CHAPTER 53 FOREIGN CONTRIBUTION (REGULATION) ACT (FCRA)

470

CHAPTER 54 COFEPOSA, 1974 SUBJECT INDEX

496 511

12

LIBERALISED REMITTANCE SCHEME (LRS)

. ))s ds E ee n ( s i o 7 i r i l 0 e t a a S2l r . e u Ro bI g i Ne L D R . ,(R a r . .

P i o S . d . s nAG e I l Inu fBo o R R i t s a y e n c v fi a r f io e t s ,ot e 4 r N r 0 a I e0o p 2G gt n2 o an hs h4 t i c i xnwe eodm e ndah e ec gc i r e s u4 r s od0h i o f 0 r2 t ft , o n,l y 4 ni g s y n oa r i i t t was i ue s o)rr pSbt e R e eLF n l I ( b . d4 aee 0 t mt0 r oea2 f hd3 , 4 mc6 2 oS. h ceo c fcNr o n a arM a wt l etu i d i e mc v t ra ei nR Cd I

12.1 Background

vide

. e drnu o o i v s s i s n6i 1 d o s 0i ni t i 2 h c ta t 1 n n es-o 1 n da s i d s n r eo e t r i ttt enac t udu a 6 o r t t i c1s l i c 5 n c a1 i al d 0e f a 2t ot i / t a p 7d ea i r c.o l o ur so Ns a n etno mnoc i e s t nrc n r i ou ea i r t t ci a n zdDo i lerc t a e ’ t ) t r i S s e ma R br i ML le ( apDe srE a o m dfDe ed h caIc uoBS e drRc ob.n raha t t so t n db t i i snf a u m wfoe t nR ei o d i mmt e s eea i l hrna coir b t s e s b m el i ha oL Tuc ‘ -

1 1 d e t a d 8 1 . o N n o i t c e r i D r e t s a M D E F I B R n i d n u o f e b n a c s n . o’ i g t n c i ut rr t o s p ne i R g‘ nn i t o r o6 p1 e0 R2

t sn i h e Tr r .u r a C e( yM lE a i F c nf ao n fi) ( r1 e pm 0e t 0i 0I , I 0 I 5e , 2 l u Dd Se h Uc sS i tr i me h it l lo l a s. r a 0 e l0 vl 0 oe2 ews , hse Tal su -l R a u) s dn i v o i i d t c na i s on t a sr e T i l p t pn au o t ic mc iA l Limit of USD 2,50,000 per financial year for current account transactions for individuals and others ix . s n o i t c a s n a r t t n u o c c a t n e r r u c l l a o t s e i l p p a S R L , y l t c e r i d n i , s u h T

f o s l i a t e d s e v i g 6 1 0 2 1 1 d e t a d 6 1 5 1 0 2 / 7 . o N n o i t c e r i D . rs e w t s o a l l Mf o Ds Ea De m Ie Bh Rc fs o S AR aL r e a h Pt

12.2 Liberalised Remittance Scheme (LRS) of USD 2,50,000 for resident individuals

. o4 .5 -fc wl o i r 1 t 00 or c l 0 pne i l 2 , o a Ai m2s t (t 5 2 s yr au dl 6 n e a r n42 i a eeb T n . r Ym, f oo. f F r e lo 0. ya U c0 w a i c ac 0t aH m, mn i 5 , ars g2m sn o i r i m nDl i n e r l F t l iSn o fi a a i rt U ee v e p c i s efe Dp ah r o . l d0ss p ra t n r p i e0a h e u m s 0 d t n r d i i , i t n t i r v o0tr wlai 5 S a n t , h2 , d up nRe t n , e u o m i D cs tLi AS t ce sht i t n t s ,U aa i oe e n r lo d owti moa s ettp cdee i r semr h p i cpao ett r r g Succ a a e mp t sro t s el t or caoe ser t n nun l f a md i b ade e i d e t a y r v t l e el h r i i i s s cv i a mdua i i s v c encv e een r Rida r t hn t e a o t nTe n dnt n e . fi eei e d s e s m s i br n i i bo s le re e sp a si e r a r t pm ai e h0 h y d e y bb 0 t0 i nh tni L ac io 0 , m s m c e rS l i5 ic ec l o e , hn iS2 f h Sm t )T ah R RD rt t e c. LoLS n dirh eU e m t o a ne hs hc o Mb Ur Ti Te

86

S L A U D I V I D N I T N E D I S E R R O F 0 0 0 , 0 5 , 2 D S U F O S R L

sr l a e t un du i v o i c d ne i b tt n es du i m s e 2 r lA l a m or t o eF l b e ah l i t a , vr ao n si i em m ea hg n ci Se . n eba hri d e Tt r -t a iu mg el r a fr o u t ea s n a cs ’ nr I o .i n s r om ne i h mt gy nb i d d e un l c g ns i i

ty sf e dkr c ene i mmt g n a t eei e tr bno t hmm r cyr r aa nu Sl egpnc a eipn iocn hmtn c a g t ti o / f rl e nesnr p e r dasoeeo d u i i f n nd s s ga s ui we ’ n v r si i hore b e d c-at t o cnbu , a r ni usce l e aoc e t hh tlsht t n t t,o i rt t mcri uf o e e vtn o ej b ec Fi t Ru a e . y r wsa d -s t n e soayrr e H r r e c p e .tho e bs h nttrt n f mo uipr / , ei y o t t o i md t n cr f , y ceey n a l pmc ol i os tn mca r t e e adi r f ppvr n f . fa nu ao S i o c e/ cR ts s t L n c mra n o er gr hui f pe e co ed sr st r r c e on seuc r f t p b u a ni / n i k d hmt i , dt n nt a eieean o m w t r mbeb a y da t s dgl i s i n a i s l e i e d m e o y v s l r sl a e n r np rh f i e o r / vet t cme ohn eo n tu h c o u e t bs ohno o t a nr c c aeycfoc a cbbaot re r eo s i d sn wn ri e gu hr d t ae o w emo r rl l a oa hf cet i o c h nn wa e st r nta i om i y t e t c r r af a s p nor aee r t rn t ruu t e a o hn c t o es lh a l te A s -i nr e ev s o o/ hs t e g dn na ah Ac x Me Es Fa e rs e r de nv uo eo l t b i . se s l l s m a i mce rnh e ic pg S r ta e o h nmt e ur na e6 1 s0 a 2 ,S 1 RL1 d re e t da nd u6 1 la 5 u1 d0 i v 2 i / d 7 n. i o n aN n yo bt i c se nr oi i D t c r ae s t ns aa r M t tD n uE o cD cI aB lR a f t o i p 6 a. cA ea l r b a i p s s ns i . miw rdo e e l t pa l o erf hes Tma

e dnni nr noor u i i at t t on i das ecide u fi t eV i s q r l i , ce a l s dd huan t q; n r o eu o r bft F foc sl o neea c r oi u si i e t v tD , , i r u k r s s a feMe n i h s o u t a sq lfo b ta o n c g s a naonsy t o i h ;pi r i d s t n o s l e t i s s o us n h w e he t i f nm d i o d m g a r t nunp o n o i a r r r e d p s t l b ns m d , o a on s r t h i i e s a t t i i e n t r t s i b i owvr u o u e n f o t u i qdyy c c ; c c e a , arnnns o o a i t y d - pat b c a dy pa e n o anmmrd r o a o e e b on rp cc r b a d r ms ue n u y ao a t gma c r sce t t i e s r n e n srern r g p ea e s o’ i u o v e e r ms , ofrs r t o a r s o p e t d nfc e f f n v a v e f o n oforu o s e i F g s idoeDl g r a n h esa a ft nt i e o i s h n i c k r i sup e r l a p u anh ea fi o p mus o lC ) ) ) ( ( (

m o r f t c e f f e h t i w ( s e r u t , n s es Ve n ti n s i u o Jb d n a s e i r a i r d o i f s ba i ud Sn dI ee ni d ws t Ou yo l ) l 3 o 1 h0 W2 , p5 u0 t gs nu i g t t u e A s ) (

ln ) d s a l o I t u i i R t op c N hae ( scr s i s D e n k t a a n i r t al d e i t Bi n s I ca -a t n fM e oD d t i s sE e l D r a uI n dB . o3 i N1 R v i o0 d f 2 t no s, i t e 1 t1 ec n . pA eA us da e Ri i s r nn e a r aa P i p d o t nm e I o s m nC e i i e t s n i h l ni i c ad c S a oe l f e gn t . fi h i ne 6 t d i 1 d d er0 r us e 2 l c da c n1 fu ns o i e 1 s v sd d ni e t n aa e ct i ol k na l e gr yad t n t e n 6 i i r am 1 d na 5 de1 eo nr0 t h x e t 2 t n ew x / u7 eo ) . tco ( o c naN

bona fide iv

-

Scheme available to minors also

-

Consolidation of remittance of family members

Para 12.2 87

Transactions not permissible under LRS

12.2-1 Capital Account transactions permissible under LRS

-

i

ii

iii

v

Banks should not finance to facilitate capital account remittances

; o ntlt i e i s r i e ov l s eb s l e a a oi t l l a c a ev v i f mr a o ep ) h.ed ci zca n Sv o ar e(n b hse a t nt s n oi ri e e ta i dc d namu us;s t )nn; Yaod r i Ftt a a ( o tr r rng b a uia e Yomt c e c; n la e a t i tnm c t nnea aeme nryr r i uot F l l c p a rr mi c e poed 0f e 0snm 0eo; c , d 0 p na i 5ao r , t 2 rt t i s s Dmbe a Segn Urn i s fsiu o e o gb tm;d ; i u n ms oa i ibt o l r uab Ss na R/o s Lsde e d/v eu t i f hl t i Tc g a

12.2-2 LRS for current account transactions

-

-

) S R L ( E M E H C S E C N A T T I M E R D E S I L A R E B I L

t r g n e nt ei s d me a ee M gc ax D ne aeE MgD enI gaB nhR acf hxo ce.

7 xnA g Ei e a nr r go a i fP e fr ooI FeB sR oa t ee Il I eh I Rt e. l u 0m d0o e0r. h2f6 n ,o cs 1 Se 0 i s l 2 fu s o i 1 1Rm1 ) r as e d r n a e opt Pt i r a o rc d i e ar 6 ds p1 nnsuae 5 r r 1 sT i l 0 u a t 2 q/ un e7 dur i o . v c0o i 0 c d 0N nA, i n tt0o 5 n n , i e2 t er c dr e i uDr s e CSi r (UD . s w o l l o f s a e r a s n o i t c a s n a r t t n u o c c a t n e r r u c f o e p y t h c a e f o t c e p s e r n i s n o i s i v o r P

y e v nDi aSt c ,Ue n f ao p t s t u e n r hu r Bo i , d r nma aae lt ey a l a pai egc Nen r a g og n t n a fi ane ha n t oo rt e yr . hpna t uae o ny ,ei d g e , an h C oa t rh M g bc Fn ax i Fr se t ru i no s d i g rn v i e e er e l t a k o a ea vfD t i n r r i e dd pa rten s obi u r Foo s n t ahs i cti u lA v a f uno dar i v me i d ob nf rm i u t0n n 0e e0 d, h 0 i t s 5f e , o 2 r

t ronn e t hae c a d sri wa s oe /e t dsa r arre oeeh v p ro ot / l m d i r a nuo r r a o f f; t o ae y i td c hn s onTe cI.r t ei r gd mu ns i c i i ln d t u Sg uo l Re i c . r L nc i teo seh f e ,tn s s i t rr ne e ek do pc n s xi t ue e/ e s dp de eu es t smr a a l un e p si a r ; bd l ri un ua sI oRe t n o b lr i l lr A ul e -Eah h t fs i o e s te t s s n on u ce o ;p n xm oe a i t g s a i nh t . i r r ogtl e pdtl soce e l n/ v l l ae a lo r r t tct

tn i o mi t ea r n yo ad ms la a r uo da i i v d i n d nI i e ti d n s et du i o s e g r n yd i ni As e r n o s r e p a o t t f i g . a si a d n YI Fe ed ns i ot nu i o 0n 0o 0i , t 0 a 5z , i 2 n Da g Sr Uo on t a p o ut w. a ai r d dn nI an ci r te n l ea me yD od l p e s mr i eo rh ot f u dA a oy rn ba am go nf r i o gY F nr oe sp r e 0 p0 0 A, 0 5 , 2 D S U o t p u e g n a h c x e n g i e r o f

; Dfesed d nmn Aoi y s e a o r t l p mt c u ; xe s onoe b d rue l n f o o a o ecgt t n b n gea st et nh hd in at h cide cyxcem xbenrn c i n edg g r r no e nei b i e v gi t so r r i e t oe e c g n f r s i m n oe f rf oi pospt s t d wt n rgn an n ua e r i u o w do n m ors t n mt a amay ee cayl v rn enn oi eh aof t tf s a d a t r oo eoe g t ewnr s i mpcode l v eunl n a I a t ao oIt e f t yi no r mbo go iy eyt ng a a i R a t e w r t n .mg . aa0ti c yt wC0i be m 0 m , n ; nD0 i e 5lmos oA, i s i i sd2 t i f r r a h o n p e r t D r paS g yi fr e t AkUot n n s nme -ars uml boeo ia c Inx crc i yoe or e i f r t nhee oa i t l m gra b n egi i i m i t g d mn a i o se l CeI e c Dn o Si t Uc e oS t n p i ud te i n m fi ee r d ns aa c’ e lv a i ut dl a i e v i r ‘ d [ ns i e tv n i t ea dl i e s r e e r s Ao . d -la c fo o r eb ca n] a3 n1 e0 t 2 n , i t a c mA ss di e rn a a wp om t Yo FC re e h pt 0f 0o 0) , 7 0 7 5( , 2 2

se r el nr aa ab u f, . m d o c i u t v ge n i n, d i e g nh d ni ni t tf en n t i o e t a a d e r i v htst i e e t cr i c i e wt , sp n e s ne i e r rt op r i t r pni c eauY n,oF ngca n n oi gn cn i i i e a nr r 0 i o 0 stf0 l d , o0 a e t us 5 s, i dl p2 i ai v i r D i c t d e S s np s .

Ur i se a y,noe r t i ba s py nuu si e t b h i mr et s i gg eo Vs Fnn a ,. i e shr ct u icd ns x ie ev r n e sne f s g k n i e a e oi nr t cs r o e lu f a d nbfn osou l i a i t s a a d t i nevs rtav i a e n t ea f n r co t i

,S gr ne R i tL e t ba e l e sedh i i s t eht etu g yyon i obs y l e f p nnr i o mr i e t eoc v nbao s e ar nt t faac I re st -e j stb nnu eus po, xci t ecm a et i l hn t ey dr n nra aut c u el va o ou h t bd i iw as ee hrD t s faA o e dh et yt na ae y rrb. ot n f edo e i ybt t t t li c i l t a a ms n h r es n a nser aept s e yn be be h yt pa dx f ee mo t u hd pc eu n ds a

s oer t t e a pm l a ui e et gsD ned aye hni s car xno eo h n t ggu n i A i e t r , s t i os i f m ni ei s tl a u e eo v l e ho r t b yia awe mYh Ft sr g r en e l i pd a t en e De e c lx da ev s ie i rut oqn heu t so t u m i Ar a -or 0o 0F 0. , r 0 o 5t , c 2 o Dd Sl / Ua ft i o p s to n uh oa m am o nr af

Medical treatment abroad

bona

fides

-

Tour related expenses

88

Para 12.2

Private visits abroad -

Gift/donation to person resident out of India -

Going abroad on employment -

Emigration

-

Maintenance of close relatives abroad

Business trips abroad -

LRS not permissible if employee deputed out of India

S L A U D I V I D N I T N E D I S E R R O F 0 0 0 , 0 5 , 2 D S U F O S R L

t re rn me otle f a ra em f t ekDa t c e d a i r e mss t l ini t r a eo s c l e l i hd a t ef e u hs t Am nanr oha o f doy) ehb a s w i a ed bng n I nonf osao r h i e s ck s px i n mAea r.nB e ge pdi a e v lo r r a ro e r bf s e nade ereR s go e tah rc e t e l doe f ndro / l ea ul a bv et gi oo npsr aslp hoap chya xrar eomo i nadr iap gd i e g o n r rn oIb i . k f na a ed i eig s r en s n a oi tI et d l c u e e oe d o r e i h s ydci t t o aer u wo hp( mt

l da ec i wd oe l l m a sr i o rf a ed ya o lr a i b c na ag nn i fio rg e t pn 0e 0t i 0a , 0 p 5a , 2 o Dt St Un a od t n pe ut t ta n us oa g mn ai ny an ,a p e v omp . o bc u ac eak h c r t e oh of t c / nnt o os n i r e t i e m d dpa t aae nt ot r I It fn siyo tr o yi s o i r oregkt . go enu6 t i e0ytat 1 t 0naBs a a 0 C 0 n 2 C, n ei 0 D v 1 er D5oAe , h1 g A2 ndstd i Dt ne e aRmt Ss o i a Us er k f nn d h oi t d 6 t tafe 1 pubo v5 uoIli e hya 1 et c0 r v gi e o 2 o r nwg / re a e 7 pt hdt caapa. xoCa o er rmN i b t o n naDr s i o e gsAp i i t e, ec e r i g r he e d ou ntr vi f i e n t k es we oD s r e o r a de o Hse ef t l tss e . u s aa y r l obM t ih yas u 0 ad t r i 0D e mi E vvw0D , ( i ,i 0 I dns5 I I U e , n yi c2B r nn R otg aDf gni S t e e ed t o U i t r i a 7 omg. s f Ce e A n r er i Do a h d r w t At ea oeP dtml l c n ne o xal raed safy)a a v a e ki o i t m nu r d aqaIn b bemI Ia . s e s o p r u p g n i w o l l o f r o f d e s u e b n a c S R L , e v o b a s a s e s n e p x e l a n o s r e p s e d i s e B

r ee rh ut t s ps raa o M h f cD du E es D s usI w B ea R bl f eo nl ab 8 ca . cA el i a mp r epa haP crSe a i ehd htn o t I f ro f e o s dn t n no e ui sm sv i e n. cor 6 nre1 apv0 t 2 eot i G h 1 mt eeoh 1 td Rtf toe -c t eya j cd b i ul 6 so1 P te 5 r a 1 d0 a2 fr o / sT7 t n. c go ei j e N b r oo n o gFi t ntc n i s e ar a t i hx ceD

ree 6 t l om 1 i b f m i 5 dase1 n s en r i 0 s 2 u me/ w h r eoet7 f . b’ spo o len na N h au t on cd i ht o eiga i v t miurc a d o e l en rc r hi i he ctt D d Sng r e f ne l e ed i t i hs t s s t Te ta u s M -rpn e iD sa hd t g n aE ne i ,D td rn I e iaB he oR t r hb i f e o Dma9 t Doi . h s A i awv a fher o ta t miaP v rwi r oyp d r f e a fb ei o hc i t r fie c nems i nie e t ce r nbep afht. t o a t tm 6 t ea i 1 mmsr0 o 2 eanf r oe ni 1 det h c 1 rh t a a t d ne s wnn i ti t ra ae u rr oot td

s eca a l i r v a aa d r un s e nP dI s i eeav r e d R i t i d m s l e nt l e ha I ut h -o hc kfgS nou s aloi barh v . t h 6 aot 1 hr r0 e g p t d n i p 2 i n wa t 1 srtuu t 1 e o p n l i d b ur e oprit o g ctf i a l cu d de ao e 6 s yhs e 1 ct niuc5 n e ewb 1 a r t 0 e r t 2 umyi / ceam7 nhme. gcsro i StmN e n r oeuon r h f o o f i dtcg t r l c c o n e e i hdas r i i dnyr D nuca r a nre e s r ner os t c i a ha nut t aci M n t i nw t a i gdD i mme E eD er ,r t n oc egf eI pn enB oi hnR okTof sa. c o l m k a s 0 nn nra 1 o. ao i Bt A cf

,1 . t5 i 02 m0 0 2 e2r ,2 t ec kA 6 ae 1 mn d e not aZa ccd si1 m l 1 a o . un o do N i c v r i Ea d l l na u i ic tc r n ei epC dSs ) i s e e e i h r t Rr e -e S dR nI uD ( a. i P d . nA I I nB i pR ute e m s i st Co St Fe I m oi t t Sm Ro Lr rf e d de nd un se e m ca ns aa t

. d e t i b i h o r p e r a s n o i t c a s n a r t g n i w o l l o F

trn t o o e nIr ser i l u eu C md( eet hhn cce SSm ere heg d Tna n -ua d eM t i e b g i n h oa rh pc x yE l l a n cg fii i e c er po sF f eo s oI pI re ul pu yd ne ah rc oS f r e sd e c nn au t d t e i t mc i er r t s re or f em l b e t ai l i y a vn aa

Purposes prohibited under Current Account transaction rules

-

Investment by resident Individuals in IFSC

-

Purchase of objects or art

Para 12.2 89

Facilities available to students for pursuing their studies abroad -

-

12.2-3 Other remittance and expenses permissible under LRS

Remittances by DD for permissible transactions

-

Opening and maintaining foreign currency account for LRS expenses

-

12.2-4 Prohibited transactions under LRS

) S R L ( E M E H C S E C N A T T I M E R D E S I L A R E B I L

e m i t o t e m i. t 6 m1 0 o2 rf 1 de1 dd ne et ma ad 6 s1 a ,5 0 1 00 02 2/ ,7 3 y. ao MN n do i et t c a e dr ,i 0 D 0r 0e 2t ,s s a e l M u RD )E n oD i I t B c aR s nf ao r 2 T1 . tA n ua or ca cP A-

reey t. g o l t oc nn 6 t i f rs i c 1 t eobet 0 o l F eri s 2 i b m l d kwn a as 1 l i aFims1 a i o vTTrc sd o anAy k e fn t lo toFt a a o i ntnckbd e c o s r 6 e1 i sAei r i hd l tt5 elb a sn i ae o1 mc l cat0 eni c k2 h a a n fi n / cnvan i t a7 t Siai gBo . eFsmi hyaeseN TbsRgvn e r -di.ne i r o k e s s i on e t fit c i aoRe i t r Bp r n r eeesei dtvahD t i r d d r y e e sn e s b e fi t ae i i s y r t a sRn l t e e n e M i ur het d a t t i on r D ysa cu E b p e ood i eD t t cei s I t s e fi dB n e i e v e R ci t s o nt i d f v aann o r t d3 sa t e a a1 i pr ss. mo l oa aA eg o r uma r co td r sa i n . i v u n fii r P oooad cngnrd r i csf e t e aaa et t s l)f t fi . a F t woom h T i s p r Awtc t e aF oap wt c( rd. ee ek e6 r adt1 e na0 hmud2 t o 61 e lt 1l a gg1 n 5 na hi 1d h0 ck e i ec2a t h x e / ws d e7 l .

6 n ha 1 gugoN i ui de 5 ov 1 r ri on0 o hd f 2 i t nft/ c i 7 o Dt e. r An ei o nesDN a d ai h r n s e c fe o t i o rrs t c heuae chpMr nTr i o a.f DD r e r bd 2Ee t aaADs Ia emmB t erRM a b o D nl n gi lFi i E s whxD e seI dei nnB omr n t euaR ehf f vc so aSda4 l heu n1 . lhoeA l v h t i i wrsg a ee r ld a c2a unnAP dua m t i . si t v ] r6 e i o cmf d 1 nne[ 0 i ar 2 t S et eR1 hi hL Tmt 1

t n u o c c A t n e n a m r e P r e h / s i h . ee dm i e v oh rc pS oe t h lt a r ue dd i n v i u d e nc i n ta n t et di i m s e e r r e ek ha t rm o f o t y) r oN t A a P d( nr ae mb m su i tN I feeeM6 rso e dch 1 deta ntE. nru ehFA a ueomrt rr sh seie t f w d a a d, e dP eh yn r nt t unaoplud e r fs hepse deewlme b n d o ere i nn lr t cl p t i a t e i tgu eoe mAed vtdm e.mineia u s v v o r o t i gs a sn cdch ta6 . a eni nl yl h i ln41 m 0 i otrtrae00 n o m h 2 2 hsoe ss , e t l sd wv s , s1 u te di n1 i ,nn s p v r i o m e oe u n i m r i d t t i f he a e s aols l t t e ,cSa u a v hr R ; nntes egd L s o e e I r evr 6 e e R -dt e 1 a a h wh v)ei t 5 o nr y o s t 1 rt i Hyner i a a 0 t h h ep.i 2 u/ t eeeuitc7 r y m q w e moe e,bS . o ot h a e d i c c hd enN g ndS t i b e n n i e i r n I e r o r ei i e i c h o hut td t s q t n F c i e r ee e es tr r s r mtpyi n d e u vtnt saD o o s n nn f ue r S i o o e v e o sen i t es t i r d i W i ua la ,a d t/n n sM c i s ume Voi a d t s J r crD i t e i o v a d n r E dr i D ndesfne anmaoafI i e s s ct ts sn B e s r r m Sn e a R e a r evv rT Rd f he nos Li o t( i -

Funds can be retained and invest abroad

’ des ncu ano a e nt n t i i a a ml t l e e ec r s nRi adM ce‘ s ri n l oa o t r s 6 e e 1 vbi nL 5 i 1 ne0 2 Ah/ t r9 e 1 d. no uN en do at i mc e sr t i n D er me ts t s e va nM i nD oE dF eI nB rR a f eo e) m( o2 ca nr i a eP ht te s m e ve nh i c e S r

see5 a h1 ht et 0 s fo2 r t o e / v)c t7 O7 . eo /( 7j ) bN I R2un o Nnsi r o t (i e c t f nc e s ae r i i SnD a d n rr t n I e ct tii s d n n a eeo M dnr i tD fic s e e deE r l e D n s/ I oae N’uB e qR ave f i t ho oa c7 t l e d1 dr e a n‘ s r e[s a l eo p vr oi t n ci t dafd l o e er e t fi yi t i eac ms e rowp l e ys pcb s )]a sI i 3 , lC1s O a 0n6 . o u(2 i 1 d t a , i i t 0 i d v c d 2 i An1 n d onIsc i 1 e fi gd to nn n e enait depwa i z mod s i l t l e oo i 6 RC Cf 1

. etee r n r h a eu t e Rd sl l y d i n a e ese e s n i r d on la o a t s r la i era n bout i a ifdm o Lei i v l l l eb i e h d S an h t l i t iR ra f e tL o dvne a y n eh r d t u t i a i r s e t n u i e i t myrh a l t ia ei m l ih w l c l nts a m r afi u e no ym m v fit i i orl i h n e i e i b hp y m t i b s e n0nd 0 i oe h h 0p t , t t d i0sn e 5 a n w2 , r r a e e g t bDh s n Sta e d l r Ueo u e l t ofbf n d hol i o f seu t t o mon n e u ewu e o hto r f mcIm . s aSa l a i e u n nc e h d a an i t oa o l v l t t i t a e ei d h h t hmnt t i ) ) ( (

-

ii

90

Para 12.4

Capital account remittances to FATF countries

12.3 Documentation by the remitter for availment of LRS

-

Investor can retain and reinvest income under LRS -

b

12.4 Facility to grant loan in rupees to NRI/OCI close relative under the Scheme

i

S N O S R E P D E S I R O H T U A O T S N O I T C U R T S N I L A N O I T A R E P O

; nS i R rL a er ye ld a n i u c nd ae nb fir i c ns ee vr i g p t ai gm nl i i r e uh dt ld a e ud de i e v c i d x ne i t to n en e dv i s a e h r r ee hh t t ye bg o et dn aa mo l se e ch nt ag t n t i i d mu ec l r r o s t n e m e r i u q e r l a n o s r e p s ’ r e w o r r o b e. ha t i d gn nI i t n e i es me s ro op f r du ep z i s l s i t e u n i es bu lb l a hn sw no ai s oh l er o hf t ) (

narn r oioono sd,iws ] t n y r oe I e nct u pear g fd dpt ri o i e sms r t n t hu b n oo t r o oCceo htirms o h n t pd , i d ei oa s wd l s e iNe o ns v n oe)i er. , r i s ) s t s s(ude a R nrbes i c oo diD e , os umT t d sr l a e s c ( ent r a s n pue s pt i nyfl h tlg t i a rbiaoi h e i n c otc r R n r l n fi e yeo l t l a n msr g hme o ts ns s i s mm e s e s o e p n s i rvi c te o n e / i l nl hisv e i a i t hut s v i i cbc ut e e ,ieabnD h h d neee d ewTo l z itib ) s a n i t l e t i a i (as r t t s r e u e e ff i ynlo a t ei s l a l e bv p enn i r a mr[ or tt i o ost c al T nan aecn u le,r s l ri d h u a u t e g t os htt l n ni sfi buh d o c noi mca i ayh r , r r onog s a a l rA pT f erp) i ) fh os o hf t i( s( ) (

f o t i d e r C .

I .

Cc O/ /a I RO NR eN o ht t ft i o d ce /r ac e Ol b Ri g Ni l ee hn t oa t s da ed t e i t d a ee r r c t ee bb dy l a u om ht sn tu n uo om ma an a no al oh l c eu hs t ) (

l ee i a l s hb me t a r rfv o on no to hNnm g/um oi u) oOcr r co hRas N t )e s(R i t e y r i N cr na Cu d an c Fe t i n t ( d s a i tr rn ; mO a eo e d i r t s d i n e n de s r r I e . a d r d e ai h e d ws n s t i e n o n s e r i t a Nh f u n r tg o ooyf d yNcos e a nsa w e e t dw r t yhr i en m btuea e eoCco t o d r tnrl e ai h gpc b mbi e e e l u t ed r a o s b o y n l lb Fsh l a c /ei l a hr)hh h soEtw f s nsRo l t t a N t e s n on (u n u l i nloa f o o aarg m t hnoa r a nce ry te n egx t wr a mnE i e o o yk l rp a tr n n o e pa eor ebd h r bp t ) ) ( (

-

vii

b

a

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c

Para 12.5 91

iii

iv

d

v

vi

t e] i o 3 t h1 d t e r f0dc e 2 o t ,i t d d ec vA en i r a t scI a e l C e i e n b r O ad/ . ap c I/ lR s u m i oNa ooh O hCs eR hN wett Ihn o Ctuft o f Oooct i )m/ /7 d I e R7aar ) ( e N2 hOc e anTRl o .Nb i ot r i (g t e c tl f i te n s f Sn i ue g naon eirca edtcs cAa pe i un n ed r fi o e e aerpt t a edcue e R ksl r aae )t ’ /y e e mv erb niuay t n qi a al a ed ce m h r r l‘ a [cOt ul n d(u da t en i us o v e ds i m i o d d v i r a ni s i dce t f ti no fRi n -g et n h dnyo a i c e s dwNu e i s r ef s yh e Ar bt o 12.4-1 Rupee Gift to NRI/OCI who is relative of remitter

tB dtso n e ee R cnt t n d i 0 i ae0 ms v t e t 0 rr a i 2 e h / pemt 6 shen t r 1 a feuA Yo o F h M t y m t la rl i E l e a i F pb t f 0idi n 0sngi o n a 0o t e , th a 0 pi c 5s m t fi 2ei gi r l t De no Si Sh dN UtRuI lB eLc fb enR o tdhi i t l r mu na S. i loie ] h l 0 w yR0 t l i L a t l w 0 I r a e 2 e . i l s h c va i t 5 ou tnr 3 ednae n i u hv dd t o fin i e nd t meua i n h h a i dd t t t t i e ) wnf igbE i ( eegnr i d 3 r c e bi 0 s s u h 4 de e t d l r r trp u R a a or S hotG i wo n t m[ oi tf ed n r 0 uSu l0 oRsee0 h h 2 t mLnt e e d5 ah ye ob tt t 3 f d i r r ed g e oee e edndc t hnoax a Tudme d

5 1 0 2 / 7 . o N n o i t c e r i D r e t s a M D E D I B R f o B a r a p n i d e n i a t n o c e r . a 6 s1 n0 2 oi t 1 c u1 rd t s e t na i ed h6 T1

12.5 Operational instructions to Authorised Persons

seced o t g rn n N neia e / aSun q m s hoe o n uctr i o x t c l n i l a e t o a wh r a dna a l g l u e rsc i he g d e n t e r od ss ef oi R a b r . i /9 gseh t n r 9 p c n c c o i A9 s d s u s 1 e r a e s e, r e s ep t hc e p i l t r k e ,r y fA l doa o l ehm e t t a z l sn r ii u ne e ra h o t o om n w i hne e s e s t a i g g gn u v n t , o a oa t a a sfh rn o h r pa n t o c eM le sx P l n i e e h e o d w d t i n i yg Iet v g n Bsno i da i e r e rr uh Ro t po t t c h e s x htAhf yE . u c n l TA s i l i nh n u t owc e fi g i e ht a e r t c9s r a ya9n co bs9a yF r dn1t ar ea,o r e A md fit i Mt t r sn g n En e nu u v Fr i o o sd ec i es e r bc he e u d atd s Ps l tfn u o di on o es ) e n z hr 5 s i ( r sr o r 0 i e ot u h 1 p ha ccn i t c y ro u fi h o n i ia wft At

-

No document specified by RBI

-

) S R L ( E M E H C S E C N A T T I M E R D E S I L A R E B I L

ted o he nt u lfs s l oi i wnr e od ni os r i ao t vr c aeo s nrn aoi o r nt t o c ei e t hn r i t d te, v a an hr o t ti t mna o ic c h fi yt i yn f o s a n i t f , a o n s o ei ys t l a ol b apu nrg oue spr a , e e eh l r u ltr l r i oy wf n sda a er nno g oi A i s t M e a E mdF t ro on e f h n st i i f . r h o e cdsd unn n sao es u i ev vl ie i v o r g oe vr h onp t i t s orn o t o si wt s en i i v eo v r amp e r hi h t ui i t qw We -re rc e n da i i s l np om co yc ae mr u ss r n e e l a o et Ds e dh ec z n i r a or hb t r u i Ae h ,t s e y cb i t . dt c aec r nA pa i e mth rbt oof f eo i b) n 5 uo( 0 gt1 s nt i n n n o ei i a t mc t n ue i s c a of md o

,a dnesg e v eor nt r ki s , i e a t n r n io s oo mr e wc hi R t r t a y o n u n .

Atetia n h I , n e B -ete tR my sa u m ho ube ft e c r t r oni er o l u v di l e t et q /a a i t ehe nc l r s a o fi i ihrbm t r e a c oe e l t u mv a h r sest oryDnr t o f n oo f s d n a i p naee e yehsr i t r k r i na sn , woa at h o dryths relu r e odp h e cnmAf p euoei r e schl ,h t lt naoh ,a owt hy t si pne wsb eos d d e i et ur ne kc f t a a aee l h os n r t t p o n t e i m danc t a r c et e na ca r t i i s n e l i u no l qhpp a c p t eh r amt s r i ceo n e oi c h h sh t o l t y i wer a s ea efsokv a t o r ae c c t a snar / i f e ss n I s r do i a . t e i nt bk l a n a u s n ea eh noe Dt But v f etlo l c a ue sp hn t s s is te teI r m o . s nnt e i i r l n ld i eu wed q ie Iws r o e Bl r e lRo h -fnt eoh n be t i oh w t t y eo l r utp dsm eeo ccc ono a rt t pt s eir m he e l t a gre ngD n i i d d rwe a os gl i lr ea r o eh ,l A it Mhu EwA f eo Fc . er e tl hur b t oaa p rs c e t l e i da hp nxt p ua na sto s nfy a oor i , n s t o o c t w i ut a a rc dl t unx s daa ne i t ydme nfeh bt ao eke wr c nr ouao s l l nbf a fn eeoi l o it s te h c l Wdeu p e -rsR i e u g r qni n ei r r e dd ee r tn a n u sea r mL e ey l l a epe Dmn io dnM ee i s t en i r obA ee hv t h u at Ahh ,si t s e l nw a i ue l y dd l i p im v u i d go n” c i r o. te s n y t emli doal i t d i c s s l a e uu f r Coe orhh s t t u y yoe g t Yh n i l i i Tw w c aos .o f l ntl eKna ue h“ t ol t ci a gh ch nt aw i

t en hu t o hc t i c wa l ta n t i up oa cc cr ao kf s ne ac bn et a ht t i dm ee nr i e a h t t n i o a t mr o ei vr ap hr a de l y u oe hn so f so t n d ao ci i r le p pp am e hu Tm i -n i . ms n ao i rt oc f a s kn na ar bt

te edt oo eu h e n r t s t i edr n sy t hu oai b t c t h i d n eotl e kyupel r A p m fi ar a ma e e n t chea r o h T u d t t t s t l . t e gun mkR nou onr i hor k a escf bo esc rar r s aa e e l ta ee d n hyhr c aet suO cDf u s i t l doo n f p i I e peev c s . e ar m i s n r ds s a eo npne hh e e t us t t h fs fun t I fA Aa ir o -, kmo x n fea adtcT r bnnue e o m eams hne o o t e c t i hn fa t a t o I t rrsgt e s e . pkne i n d t mo d a e o,arl n b g t a i ea s n g h uine t i n t ce b a rf t o so wpb eooe e ne vsb e l d i e hl y at p s um a om sno i c sohe,t s h e e e n l ccstb a nnr a y c aeefi i ll l s t g a i t ap i t i ea l vp i md Ds aa

dgyo l s nbl u i ra ok heoy seta rsnm e u . n l r oore a c s e er d cl De l aao dpkeh D een s d h i a d r r t bea oo s c sr ht i ’ t t e oh u gnh Ai t nat cuf eg i o l hn Ad p To p r . l -e r ae a bed c shrd dtOa i nn p uoye f ar fnPp w / o / t a t f tr i a u b odre D e d dud/ eqn t i ve d i hae e ccmr eaec r h yDg sb i yu t,bo s n e r rh ec ot mn tt an yt n at ue pi om mc ee cy hr aa t esp th a ie hthh t eot kt ea t r p te u i smbc noec da et

. edn hni t e ar ts e a eh hi t td i yt e f n n i e t i r a e e t l n cb o i dg c l i u l s oe n hni o sit oc rt e u l rt r a os e/ n Dy i dbe eyh s t l i t r h c oe t i hi rw t de u nc Ai n era ho d T r y -t l o c cc ea r i n d i ee dd aa mm e gr na i e s be c tn o a nt t si i m ee cr ne ah t t t i t ma eh r t

No remittance to ineligible entities

-

AD Bank to follow KYC norms and Anti-Money Laundering Rules

-

Due diligence in case of new customer

92

Para 12.5

AD Bank can prescribe documents to be obtained by branches

AD Bank to keep records and report suspicious transactions to RBI

AD Bank to ensure compliance of income tax TDS provisions

Applicant should be customer of AD Bank for remittance of capital account transactions

Remittances should be out of own funds of applicant

I B R O T G N I T R O P E R

s de l u c on a ht st ki nm ae br e Dt a At i -i l c a f o t s l a u d i v i . d e nm i te n h ec dS i s e e h r t or t e sd e i n t i u l i s c n ao f i tt i c d a es r n c a fr o t dt nn i u k o yc nc aa l da nt i ep t x a ec tr o o nf

rscen sse s i r e e i c h l i a e c na r a t l t n a etyab re a t e Dnrt o t u a i t dDi d s o n m eosmt c d e e u s ee e i c Rg s r r e r ve i oi o dr f htnd. o a o fi a e t rs ht r a m u o i t g c Aeflu sA e -peaf r e o t p e c s a mb o nee f i . i ct ahr L w .

T t F o n t n . otewT ie i nehwA ms , 2 smt F erA r e u a ie t y ro Ftdib ec s m h Tmnb r lo d T Aouee a r s w fi Ff mF i net yt ry o o o bi s h i nm n t t dl c s m s eea e s e fih s hu e i i t tnc r d t t n a e c nd i etran u t a r dd So yo i e Rc a c sph e Ee t m u e i Tr r v gyi yn t En l t n e g i a Fo l h un r d t p oi e ne ,p cdne i o eras de o h k o hc e o t s t p d0 ce . c r rfa on0 h o u n pa0 ddcpo ee5 , rnnsn r r2 oaai a f r e h csb o pD t be ee t r ii rrs lr S l r i ao pU eoi l w t hFt pi on . t s er e es e a erym t mlh a keb a e t yt el n d s h hys e an och cae i ma St Sml t

fa r nmi w s ao i e eor i d i a h e d r v i t p f e n( d f o tt I n s o a a I st i g i t a grn s n ni i lonpi o v l i o p ga e ecrpn p a wd h l pei tt sypa he o a cr tk n n anoi mr, a f e i a s r o d t me r r r nu onf i ,i t I ]osr t c e ncs n n n i d h s r e . g t nye gi s r a c u ne n unr i r f g wnF t i o e l o l a e f . a c a c r r s )u n l e toa oo s to pt f onuntuyc e d y sem si br km yiv s o nesarit s asamgdi i e s i n n v br t s sv i i or r t t p e nee n i n ep gvveg ed i do u s e d a mr r i ys f e o s oho s ce s t e f i n i gft s fua lrsrei o a o eoerr p r h rrhve u t e h d e o d c f t ba s b( o l l n a mgnea n sitga o s , t i ui e e n e t[h ni i r r ) e d c e Tt on S Al i otf .

R I n o spi -s gn Le n e e i n hd hie t erci i t c eenu c d g i n ag bn le n r o eub o i s s t vs t e c at s s r s e a e hn p e t er ses ma o l kd ruren s i p ns e ho of ae vl ci br oc os t

, ryds sdi n e n e e ao t a r h e i pk t ret robl a lr a o nafsyu omsdag n m e t i gs i t u R . a n 1 ofd 0 r i e e plrg0 pbeaan0 i g u k osdt en 0 r neyus 4 aamcmi Bi genshfa e t h a ob nc r nt i ei r su v s nm r aec s eu e n hh m v M o ttno i t g r o , t r t oira nf e a r o cp r o eI ofie l F s s p Dr oBft , p, g n hRn eo t eag ig e o gmt l r i h a o F nr c a i i sTh h fl d t a . o C 2 ls y ua -1 gn l n r v c n , a i o i e nof t pr i c r c e ,p m fi ra n gf e p o r ga a ho O cn i t e ri l f s a r e a o e r or r i M so c t f t i l n dpnsva e e r e r k ne e C h e dc ae s i na , nssnlei e a a adr i Gd r i l n d o bcfI n u e t no ah i sn f I a a hi o e hs fiC k d s t ,n nen r o a biIegha t d i v n ,n e oB i or s t kI /o e dv nnmnf r aieg ee r s i behe e s t s c e h r ln e yo l r t A dR o ebf

. eessi drakb r aown. l mf ar e t b i b sbr x D/ e re co iA/ n l : , r s ana h o t p s e . t t i ,[ i 1 t n s 2 mi h r L s 0 u ea s Rf 2 r i 6 nbBoLoyXtR7 l nh aU1 h t t on a g d e i t e oudh a t ooT a mmrn d . rahsm 7 o ti n f s 0 ee. o t e n r s t i o e y a e)l N hs hSe t R t r r eSa F hLtr l s(i e Ru i ehh c n r rmc Oi u iWeC e h . fh h ]t ) ) ocwS s t e SoFi ni det r Rse ec hO eS r nt i u an(rR qto uI g m t ei i D f e r mmt ( ’. l eegs i r P yn nS Ri a ‘. sdwgdA ke o aI n ns l oB i l l l ai lf i o R p ba F r Ie esur -b hnob yitrtx u L r ds o fte f geoes r ehhRi o t v t t / ed a rf in n Cef i iag . den l er Dn r hOa Aut o

. tt nx r i eo enp s e e i r h’ wt l i nfN oo‘ i sd t s c a e an o s l i ns p au u r bd t l efu hoo t eh hss sos l i c k n n rea uhb ft yD ob t A d , e d r e i sh i u s qsi n ear b r )u e1 f r +e a b sTo k(t y nl s ai i a bd a t Iaa y nd r ooo g n S eR e t s a a CLc r e n Dd I An . y ,ua n ond i o g t i i t n d a i dm k r ar o ow nf I

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i.e.

Para 12.6 93

No credit facilities to applicant for capital account transactions

No remittance of capital account transactions to FATF countries

-

Reporting by AD Bank of transactions in LRS

Foreign Banks and Indian Banks should not advertise LRS scheme without approval of RBI

-

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12.6 Reporting to RBI

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FEMA & FDI Ready Reckoner AUTHOR : TAXMANN PUBLISHER : TAXMANN DATE OF PUBLICATION : DECEMBER 2021 EDITION : 16TH EDITION ISBN NO : 9789392211782 BINDING TYPE : PAPERBACK

Rs. 1350

Description FEMA & FDI Ready Reckoner provides complete and accurate information about all provisions of the Foreign Exchange Management Act, 1999 (FEMA). It also includes guidance on all practical issues faced by companies and FEMA professionals. Key features of this book are as follows: u

[Topic-wise Commentary] on FEMA

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[Analysis] with Relevant Rules, Judicial Pronouncements, Circulars, Notifications and Master Directions issued by Reserve Bank of India

u

Laws Relating to the following

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Prevention of Money Laundering Act

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Foreign Contribution (Regulation) Act

u COFEPOSA

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