Foreign Exchange Management Act

The Delhi High Court was hearing Arjun Patil's appeal against the appellate tribunal orders' over the confiscation of ₹12.31 lakh and ₹40,000 penalty

In a significant departure from the practice of giving detailed guidelines, the draft direction merely provides a list of RBI regulations that authorised dealers (ADs) must follow

Rental income from a foreign property is taxed under the head "Income from House Property". This income must be declared in the Foreign Source Income schedule of the ITR

The Reserve Bank on Tuesday updated the 'Alert List' of unauthorised forex trading platforms by adding 13 more entities, including TDFX and Inefex, taking the total to 88. The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018. Some entities in the list are Ranger Capital, TDFX, Inefex, YorkerFX, Growline, Think Markets, Smart Prop Trader, FundedNext, Weltrade, FreshForex, FX Road, DBG Markets, and Plusonetrade. RBI said the Alert List also contains names of entities/platforms/websites which appear to be promoting unauthorised entities/ETPs, including through advertisements of such unauthorised entities or claiming to be providing training/advisory services. This list is not exhaustive, it added. Further, an entity not appearing in the list sh

On Monday, media reports quoting sources claimed that the Enforcement Directorate (ED) was investigating if platforms run by OCL were involved in violations of FEMA

The broadcaster is under scrutiny for alleged foreign exchange violations in India and an investigation was launched shortly after tax authorities searched BBC's offices in Delhi and Mumbai in Feb

Nine properties worth more than Rs 65 crore of prominent hatchery company-- Venkateshwara Hatcheries Pvt Ltd-- have been seized under the foreign exchange law for allegedly making illegal foreign remittances to purchase a 90-acre house in the UK, the Enforcement Directorate said on Monday. The seized assets are located in Maharashtra and Karnataka and the ED case, being probed under the provisions of the Foreign Exchange Management Act (FEMA), pertains to these remittances made by the company from 2011 to its wholly-owned subsidiary named Venky's Overseas Limited (VOL), UK. The total value of these properties is Rs 65.53 crore, according to the ED. Venkateshwara Hatcheries Pvt Ltd (VHPL), the agency said in a statement, had declared the business of VOL to the RBI as agriculture and mining (rearing of ducks, hens etc). After the incorporation of the VOL, the VHPL remitted "huge funds" in the guise of equity infusion. "However, no such business activity was ever initiated by VOL eve

The probe is essentially looking at purported foreign direct investment (FDI) violations by the BBC India, sources said

Directorate of Enforcement (ED) has attached assets worth Rs 305.84 crore of a private firm under section 37A of the Foreign Exchange Management Act, 1999 for violation of section 4 of the Act.

For property bought as resident or inherited, up to $1 mn can be sent each year

Negotiations are on with Russia, Cuba and Sudan among others to do so. Officials are hopeful that Saudi Arabia, UAE and Luxembourg would also come on board

Rumours started with a portal's tweet that the Chinese cellphone manufacturer may shift its operations from India to Pakistan after its assets worth $676 million were seized

The central bank has been selling dollars in the foreign exchange market aggressively to curb any sharp fall in the rupee, which is one of the main reasons for the reserves to fall

The Enforcement Directorate (ED) on Thursday searched the premises of leading crypto exchange CoinSwitch Kuber for alleged Foreign Exchange Management Act (FEMA) violations

Issuance of show cause notices as a proportion of investigations has declined in 2018-19

The long-awaited move is aimed at boosting liquidity and efficiency at domestic commodity bourses, even as concerns remain if this would make markets more volatile

The ED froze Xiaomi's accounts on April 29 alleging that it has violated the Foreign Exchange Management Act by illegally transferring money abroad to three companies under guise of royalty payments

If an LC specifies the details of a shipping mark, the documents mentioning the marks should show these details; additional information is acceptable provided it is not in conflict with the LC terms

Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period

It's learnt that ED had initiated its discreet inquiry in February under the Foreign Exchange Management Act (FEMA) and found evidence of remittances involving a significant amount