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fema ca inter law paper 2
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FEMA + 1999
Exchange ange erent Act > nae
FERA > jaya - (167
PEER 7 tana -\\ay
CERA een
| Trbroduce ~t x cat: = woe
foretgn exchange Tnvoduce ~ FER - »
rave + Low Sulreteat
| Paspose - Conseruartisony of purpose - imanage FER
| tpretgo exchange Rerove
| ) La
|. Rigid law [ pracontan Act . Uberal Law
eee ton -+ civil
4 tartcavention FEriminal dence \ Contavention sfeasn
\oprisonment mel
|
. Compounding not possible . Compounding poseible
| v w
Combeedt. + Baprise| com, = top
| OF
| — - Pine
Puvpoe -
FEMA, 99
a om ’"
Paailikating 4
External tade
% payment
1 -
Scanned with CamScanner FEMA, 1999
Backaround | #etory :
Before FEMA, v9, ther wan GERA 1843, there after
FERA, agg
In 19a when rebormative, policy Sotroduce te Leberalfsatien”
Privodisation 4, Aieattzatfon , foriyn exchange Regulatten At |
FERA way cracking & Nardle 8 Lbevalising % qroealise |
“9G the policies 4 Comeaquiently Fema aq wos aotroduced
|
Preamble of PEMA, a9 (Porpose) [ |
Ao pct to perinatal aitemal ede < payments (oper -
export) 5) odes aelepment Te Roseiga exchange mestet
Pictorial Representation [ron FERA to FEPIA )
Scanned with CamScanner Act
Dracontan
+ +
‘ Ryan dtvect ¥ Espen!) Trapr 98Meak
Jrvrrvvent ¥ “Tinpovt |
To
L P q.
FEMA
manog ¢
facilitate : a8 :
Foxeign exchange
market tn Fadia
Scanned with CamScanner Femn 1a99
Sectfon 4
— & = — Bes
) @ @ cw
shot Ale Exteat pplicataility Commencement
Y + wv
fem, 99 4o: Khe ce date
whole of ‘worry
In dia +
Bw
Appiiateility
Fea —
n . yoclusive
Exdusive =
L glolA [ols India
a oe
fe xa contol
Pee
person - Sec 2(¥)
prt - Gee 2 OY) eemp (99 Co, Ack 2013
Ror - See 2(») ¥ Person
Pu son: wv
~ company
Company
© 82 5
Rio 2. g.0
° © as
\—_,—_
Restdential state, . shale
mp PRE g poe eee
jrorsachow Persone
~p of alt
Hy caret al
Scanned with CamScanner Sec av) Peon Resident i India - N
v
means +
1 person resting an india fpr move than 182 da
Course of PFY , but does owt Include =~
(® person who kar gone of Todia for taking employer
0) butnew oF occasion
fe) apy omy collar purpose which ghom treater Hak ty
Stoy “db Trdior for uncertaln pexfod
Sec_alv) PRD MA).
a
Never gone hone. ols Crone ols Todi
ols Tndta Todta +
v v doy G) GID (HT)
cD othe :
we a “) Employrnedt
o x) Blo
per Ww) Lo et fed
> Vv
PROT
Sec 2(V) (8)
aw Se
“Sirdtvidual = 483 ov rove. PPY
Comming ox stays Comming ox stay "
“wm “Todia yor “Cd (1) (iti) other, Tad -
voz 13% v : '
per
Scanned with CamScanner |
FemA waa
Residentral Gareent accovet Gpttal acount >
Stalws _ krannaction tramachoo
Sec 2) ec 2(€)
eo
Coagttal Account “transaction Sec_2(e)
Ararsaction which alters 3
%) Foreign Poets | Ualoilittes of PEL
@) Indian Assets ( Uatortities of peor
Buvexs Credit -r Current alt Kansaction
enport - qoeds ] rach
| -
ate
eo
@N Tnrome from Rovestment , Fntevert on loan
3. Lbving expenses of {eenily, alotoad
‘Foreign trovel , education , medieal afc
Scanned with CamScanner ransactions (drawl $)
Current ale transaction
Capital ale transactoo
Sec ©
- ee
y ¥
FEM (turvent ale Avan)
Rules , 2000
rem (cap- ale Hans:) Regula
~ton , 2015
|
(Schedule 3, 2,3) (schedule 1,2) |
Suiconary Chart py Current ale tansation>
Rule schedule Hanna ction _
3 = | Prohibited Axansactions / drawks
4 | = -peimictaisle Commercial Avansactoms
which reaper (661 BPP TOVAL
5 x
| [Pewicbte peor tonsactions oh]
| (xp Re Apres, ah del |
| | exceeds promiloed Linnit.
“Rule 3 yead with sthedude T
Avot of pega exchange by any person for the
{ollowtng ~ parpose %8 prohitated. » damely
aya tradsackion specitged fo “achedule Z O14
Da trowel © (NERUTOTTBRISA «01
©).a Armisaction with-a person westdert _—_—
iii)
Scanned with CamScanner Section 5 Current Account:
y—
Rule 3 4 Schedule T
v
“Probistted tranmactions/
draws
Brawl of fyreign excharige by aay
Person for the {plowing purpose Js
prohibited
©) 6 trowel io [Mega ov [Bhutan ov
Wf (RaABBAMOR uth a person restdent t0
‘Mepal ov | Bhutan.
O'Kane owt of late Rising)
4) Remthance of [inkeme! from racing | Ming ete
OF any other hobby. «
© Remttiance “tpt
band magagines, jptball polls , sikeep stakes ae.
*) Remtlance of dividend ty a
ny Compa
whitch Ae lent rae
so page i Boal Balancing Fs
=
Transaction
Rule 4 + Sdaedule 1
+
[PARIBBIE! Cormmercial Hansactions
won waite ae appr
a) cultural tour ({ytivals)
ub) Ravedtcement So ABREU TORTREARS
by Nake govt <, te -pulbliellBettowsUndent
age Ipt acy plipose excening Bay
Monee TL means xf he Fermtiance ds
below lew than oF equal fo $I000D n°
approval of co is Tequind
Note & However .%f the purpose of
odvertisersent ta
9 prometton of AduxTSeN
®) foretgn awertments 5
8) foternat oral
80 approval of ch ts weywired” spreaper
=e amaint of semtbance.
¥
Scanned with CamScanner fe Rernttiance of fetered Income on funds had
Th non estdent specfal rugpee scheme aly
(Atecentiovsnk ven dulseo)
HY Payment cdmmfssion on ‘exports under
TMP state credet toute (govt. scheane er
Noles Atower , on export of
commission HOE of Fovefce value ds
allowed’. (not prohteitea)
2) Peyment seal to Gi nck Seva of
telephones.
D) Poyment Of coramission on exports made
towards eaptly towstmoent . t geat
Vertuve | hotly owned substdioves abrond
| Trdtan Corepacfies
© Rerettonce oy pet a [Link] J
(navted by 0 Psu)
2) poyroent of enpovt by 0 (GSH Mepl ov [PEB,
© (REY be Con Hasan yest)
©) mull? modal transport tperalfoss making
a Wrefllance to thefy agents abroad
£) Reretance of Neving charges of: “Avansponders |
by a) TV channels
b) oterned cenrtee provers
9) Rewiance Container detentfor charges exceed
BAe vale Preseniaed by divector general 9 MPR
%) Rertllance oh pre. money { sponsciship ented
vs Mooace. o| sports activity abroad by a person
other than, tniesnation] rational cae, levl sports bode
1 Reetitance oh membership of [PAT CLUS (piotedor
% Andemnity cule) (ship tosvrance)
Scanned with CamScanner Gerrent Account “Thansaction
Sectfon
+
Rule 5 4 schedule TE
PART- A
Facklfite, tov Todividuals
Citberaliced vemitlance theme)
nds Us» all aide TARE,
‘Tncluding [mines “axe allowed 40 freely
“est pl |$ASDBEO FET FY! fpr ony?
OF Eixent ale Aegosackion , oF
aTFaptlal ale tvonsactfon ov
BR) a ‘tombsnalfon of both
a) Pate visit to any Cobinty except Nepal
& Bhutan ‘Tres pective, CY the 0. 4, visits,
undertaken duving the Year .
Galt) ov donation,
abroad ‘efor employment
ol, dose Wlalive abroad
pret. ®
Persons other than Tndividual
8) fDanaHTON! exceeding steaner" of
|: tie of ety fpreign exchange conning,
wg during the Previows 3 FY's oF
by vs SUL tpt ~ wa
+ cacao of ches" (paying ‘pues salary)
fo repulaled Cucation institute
+ conbritovbion to funds (tot being om
Tavaiment fund) promoted by” elucalfo
-nal, Kostthute ,
lonhibution 40 a teckedcal tustitetion
oi bedy oy awctiation te the
fad of the achvady of donor Co.
cP foRREREE pre Aonvaction to! agts —
Seb tos commer
sale of weifleotPal fabs or
corp Hots ty Andi exceeding shigheraf
2) so 25000 . oF
FI. ob ward vermenttance
Scanned with CamScanner J travel for bustness or aitending a
Conlprance % specaffsed traning ov ow
"meeting expensen or Medteal expenses oF
checkup abroad oF fpr actowpaning
atgodent 10 a patfint gofnd abroad fv
medial treatment | cheibp:
9) Expenses tm connectfon with medfeal
h) Studfes alsroad.
2) any other current transaction
Note = dk
, sHoral vemitlance (RNR
(v20 280900) {ov the
bow purposes shall espive [PRONTApp
For the purposes as mentioned go tem
90. 4B,F 1 the Twlividual may avafl
an Goat tw excess | Usmrse,ooe! tf Si
29 vequived by o ovntry of emigration
Medical wstitate Aibrang twatment oF
“the anaerstly
©) Rerthance exceeding, .
a) usb ie per prope pr
SERED! o pe cy trapraeeaapegs
©) USDOL per preyet , fpr other Consoltancy
Seles procured fron outside Thdta.
2) Rertllances ex ceedta
ce | tovertment browght in Shain
») vs0 IL by an entity tr Thdta ay of
imbursement 1 wa 4
Nole 3 the aleove wemntances exceeding the
Root "loows chal
reqeire prion approval
ol whe Ber.
Scanned with CamScanner Pool, vequived from &
* foontry Sh exes
2. Medical Snsithute afering treatment
B Voiver sty
‘
FE clubbing of omit of vs 4250.00 among
fornily “members & allowed
However , clubbing sr (RAL pARRINEA, by
other vily Members py
ansAElFars ouch as open 4° tank ale]
fovertment | purchase ol property » th they
are not the owner | co-pariners of the
overseas ant ale [ iwvertment (property
fe, For 0 person whe ub wsident but net
Permanantly waident tp Tom (where dus '
sissies ‘ ds .
0) a cltiatn Gl a “foretgn state other than
sPaleistan 3 ov : :
align ol todta who: Jo teanlprred rom,
Ais {pretyn| branch 4, tpdfan branch’
May mae remade upto Lb
Wier pectin, ok Hear aan ef net Silay
ys
Scanned with CamScanner Different type of forefqn Curvent Aecoont
4, Resident Foreign Currency ale (RFC ak) 8
TA can be moaintoined by a NRT who ho yerur ned home.
fox permanant settlement after staying alosvad fps &
min period of tye.
Amt credtted on REC ale - entixe amt of foreign exchan |
“Je Prougek 40 Tadin at the Aime of wetown to. Indfa.|
Tneome from ovensees amdds oF sales proceeds kore
oversees AUnets .
Advantage,
the person dectdes 40 Qo abboad agpto you can transfer
you peod 4o NRE/PONR ale -
- Fone ale 8
Foreign Curvency Non Resident ¢-
k's Kind of “deposit db Rle fpr non resident — Tndans
who wich to protect thet ceevreney agatast ypretgo
exchene {luctoations
Avalage
—_ amt aang wtih Roterest Gan be repatriated
outside Salta whoever reqai ved
3
Tt x factllly provided to fowign” exchagge eaunexs ,
faclud?ng exporters. to cred?t (cote of, thers peyn
exchange earnings fo tke attount , 0 that He attourt |
holders do not have 0 convert foreign A excharge |
ito muppees ty vRe versa, Preteby wbataatgicy te
Arannaction Cost. = MY
FERC Exchange Eowners Poreign currency ale
Scanned with CamScanner Exem| prions
FOU renkHance from
fcc de cere
¥ v
AV any vemftiance han 40
woe made fpr transacton
Usted to Gekedulen arty,
above frm lRRenale, ne
4hen Emosapprovaly fs
required 1 |
CG Approval
v
Rectllance fpr membership ¢
Par club
(approval required)
ra
For remittance from
ale Altoad, he @o eur
For transactions Usted 8m
schedule 24 3, Ahern 99
2
Tho person te on a viet
expen
dine stated to (Buhedile S-
A he Roca tL through
approval bs veqiived,
RVI Approval
v
@) Commission to agent abroad
Pr sale of Wat in Tnafa
AL prescateed Monit exceeds
8 Restlance fpr free pref
~Acorporration expentes exce,
pes, 30 Whe Co may specthy 4 dwn , transfex OF
ay persen may any dacs oh cmt imat A PRE- ay hold ,wO, ove to 5
Sell ov draw fpr owolving deck tnchy! Arans|pt ov ovat to te Trafan covvency 208!
“egy exchange [EMER which ave 1 Fowtgn cuvtency Bomevalle property
from AP pr | peannissnele Pweg, Seas situated tn Tndfe
cat : 0 y dew)
+ howe prong BY such cattenty 5 Seu
he RET mas Viet Conditions,
3: atde, Tris > ox property waa”
Specify any class for such transact cache aes por es
‘ or owned
By Such caneaey:, acapived held
of CAT tauoliRagutey md - bey such PROT
SBE tashoment u Seeuctly “ar rmpesty =e hen he wor resident
ane pervert wos acqpaved , held o Ouse” Ste Tals’ , 08
oa such ear “e. Tohevtted from PRE
tent 4 conatt fons a he wor veerdert off Tatiana ~ ed ye
ft such transaction 3. fohertted ror, PROT:
(2) proto t grovided
Scanned with CamScanner 2 for Amerifjatton of loan (repayment of
loan tstallenents) , acd
T) fpr dep. of treet favestments wo
aera fousse of busines .
Crecapitattantton yovetgn subsidion)
Scanned with CamScanner
