Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 prescribes taxation of any undisclosed foreign income and foreign assets. The law has been formulated to curb the menace of black money stashed away abroad by Indians. In this blog, we examine the categories of residents who are required to report foreign assets, the […]
Introduction Foreign Exchange Management Act (FEMA) was enacted in 1999 to develop and maintain the foreign exchange market in India. Over a period, India gradually allowed foreign investment in several sectors. Investment in India is permissible under three routes – Foreign Direct Investment (FDI), Foreign Portfolio Investment (FPI), and Foreign Venture Capital Investment (FVCI). One […]
The Foreign Exchange Management Act (FEMA) was introduced by the Government of India in 1999. It replaced the previous Foreign Exchange Regulation Act (FERA) of 1973. The FEMA Act was designed to boost external payments and foreign trades in India. FEMA is a civil law against FERA which was a draconian police law. In essence, FEMA act was a […]
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