FEMA News

Bitcoin Close to Being Monitored, Maybe Even Legal, in India

Bitcoin Close to Being Monitored, Maybe Even Legal, in India

Sandeep Goenka, co-founder of India's leading Bitcoin exchange Zebpay, told Investopedia, “We are cautious but optimistic that the government recognizes the need to regulate bitcoins and virtual currencies. We recognize that it's a challenging task for ...and more »

Notice to SAD leader, kin over FEMA 'violations'

Notice to SAD leader, kin over FEMA 'violations'

... India to the tune of Rs 6 crore during October 2000 to December 2000, the Wahid Sandhar Sugars Ltd appear to have contravened the provisions of FEMA and its directors holding positions at that time are liable to be charged under Section 42 of the ...

Much-anticipated Flipkart-Snapdeal merger may hit FEMA roadblock. Here's why

Much-anticipated Flipkart-Snapdeal merger may hit FEMA roadblock. Here's why

The point of contention here could be the Reserve Bank of India's stringent Foreign Exchange Management Act or FEMA and Flipkart, which has its holding company – Flipkart Pvt. Ltd. – based in Singapore, would have to tread carefully in the all-stock ...

Why NRIs should consider investment in immovable property in India

Why NRIs should consider investment in immovable property in India

The government and the RBI have stressed upon to boost the participation of NRIs investor in property in India and further simplify acquisition of immovable property by NRIs and the onus to ensure diligent compliance of FEMA regulations, vests with the ...

Panama leaks: ED attaches Rs 7 crore fund of Delhi jewellery group

Panama leaks: ED attaches Rs 7 crore fund of Delhi jewellery group

Through the recent changes in the FEMA, the ED was empowered to seize equivalent property in India, if there is a suspicion that any forex, foreign security or any immovable property located outside India is held in contravention of the Act. This ...

India: A New Liberal Dimension By Judiciary To

India: A New Liberal Dimension By Judiciary To "RBI Restrictions On Exit At An Assured Return"?

In yet another investor friendly move, the Delhi High Court in the case of Cruz City 1 Mauritius Holdings v. Unitech Limited1, upheld the enforcement of foreign arbitral award in India notwithstanding the issues of contravention of FEMA restrictions ...

India 10th most complex country for accounting, tax compliance

India 10th most complex country for accounting, tax compliance

Key factors that increase complexity include the various statutes governing taxation and foreign investment—the Foreign Exchange Management Act (FEMA), the Income Tax Act (ITA), tax laws of 29 states and seven union territories. Furthermore, no one ...

ED raids forex firm, seizes currencies

ED raids forex firm, seizes currencies

Sleuths of the Enforcement Directorate (ED) today raided the office of Chhabra Forex Pvt Ltd, money exchangers, in Sector 22 and the proprietor's house in Sector 8, Panchkula. Sources said Rs 87 lakh in foreign currencies and Rs 9.50 lakh in Indian ...and more »

Offshore transfer of IP assets by pharma firms under RBI radar

Offshore transfer of IP assets by pharma firms under RBI radar

Several pharma cos including some of the leading ones have over the years steadily transferred most of their IPs outside India and reduced their tax burden in ...and more »

Senate panel backs Trump's FEMA nominee

Senate panel backs Trump's FEMA nominee

The agency has already managed 41 disaster declarations this year and the Trump administration has proposed cutting nearly $1 billion from the agency's budget. More than USD 500 million in proposed cuts would come from FEMA's grant programs, ...and more »