Foreign Exchange Management
RBI And FEMA Compliance Services
We offer expert advisory and compliance services tailored to your RBI/FEMA needs. We provide customized, practical solutions to keep you compliant with RBI and FEMA regulations.
Perfect Fit for Your Business
FEMA/RBI Compliance Advisory
Navigating the intricate regulatory landscape governed by the Reserve Bank of India (RBI) and Foreign Exchange Management Act (FEMA) can be a challenging endeavor for businesses and individuals alike. Ensuring compliance with these regulations is paramount, yet keeping pace with the ever-changing rules and guidelines can be overwhelming. At AdvisorSphere, we offer expert advisory and compliance services tailored to your RBI/FEMA needs. Whether you require assistance with foreign investments, remittances, or dispute resolution, our team is here to support you every step of the way. Don’t let compliance concerns hinder your progress. Let us help you unleash the full potential of your business or investment ventures in India. Contact us today to explore our RBI/FEMA Expert Advisory and Compliance Services.
Custom Compliance Filing solutions
Simplify Your Compliance with Our Tailored Services
Filing of FC-GPR
(Foreign Currency-Gross Provisional Return)
Easily file your Foreign Currency-Gross Provisional Return (FC-GPR) with our expert assistance. Ensure compliance with Indian regulations and streamline your filing process. Contact us now to learn more.
Filing of FC-TRS
(Foreign Currency-Transfer of Shares)
Effortlessly file the Foreign Currency-Transfer of Shares (FC-TRS) Form for share transfers in foreign currency, adhering to RBI guidelines. Get expert support for seamless compliance. Contact us to get started.
Filing of Form LLP-I
Simplify LLP compliance with our comprehensive LLP Compliance service. Let our experts handle all aspects of returns filing while you focus on managing your business efficiently. Reach out to us for hassle-free compliance.
Filing of Form LLP-II
Stay updated with the latest requirements by filing Form LLP-II to update LLP details. Learn about compliance obligations and filing procedures from our experts. Contact us for professional guidance.
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Our Other Compliance Solutions
Simplify Your Compliance with Our Expert Services
Foreign Liabilities & Assets Return (FLA)
Ensure compliance with RBI regulations regarding foreign liabilities and assets by filing the Annual Return on FLA. Let our experts assist you with navigating the filing process seamlessly. Contact us for expert assistance.
External Commercial Borrowings (ECB)
Receive expert guidance on External Commercial Borrowings (ECB) in India, covering regulations, compliance, and the borrowing process. Gain insights from our seasoned professionals. Contact us to discuss your ECB needs.
Compounding of Contraventions
Navigate the process of compounding contraventions with expert guidance from our team. Understand the regulatory framework and ensure compliance effectively. Contact us now for assistance.
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With over two decades of experience, AdvisorSphere has established itself as a trusted leader in litigation support services. Our team of highly trained professionals delivers exceptional results, earning us a reputation for excellence in the industry.
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From Our Desk
Navigating the Maze: A Comprehensive Guide to Filing Your Income Tax Return (ITR)
Discover our comprehensive guide to filing your Income Tax Return (ITR) with ease. Learn about essential documents, choose the right ITR form, avoid common mistakes, and follow step-by-step instructions for a hassle-free filing experience. Stay informed and organized to meet your tax obligations confidently.
Taxation of Dividends in the Indian Context
We discuss dividend taxes in India, where the tax incidence of dividends now falls on the shareholder rather than the company issuing the dividends beginning in FY 2020-21. The incidence of taxation on dividends has been changed from companies to investors beginning in fiscal year (FY) 2020-21 / assessment year
Understanding Income Tax Implications for Derivatives Trading and Intraday Transactions
In this article, we delve into the intricacies of income tax treatment concerning derivatives trading and intraday transactions. Firstly, let’s explore derivatives, futures contracts, and intraday transactions. Derivatives are financial instruments whose value is derived from underlying assets, commonly futures and options. Futures contracts entail the purchase or sale of
FAQ
Who oversees compliance with FEMA regulations?
The Reserve Bank of India (RBI) is the primary authority for FEMA compliance. However, individuals and entities undertaking transactions should also ensure compliance with other applicable laws such as income tax, indirect tax, companies act, and SEBI laws.
What are the key reporting requirements under FEMA?
Major reporting requirements include filing Form FC-GPR for foreign investment receipt against allotment of shares, Form FC-TRS for share transfers by non-resident shareholders, ECB reporting for external commercial borrowings, Form APR for wholly-owned subsidiaries and joint ventures outside India, FLA return for foreign liabilities and assets, and Form ODI for investments in joint ventures or subsidiaries abroad.
What penalties apply for non-compliance with FEMA regulations?
Section 13 of FEMA, 1999, imposes penalties for contravention or non-compliance. Penalties can be three times the sum involved if quantifiable, or up to Rs. 2 lakhs if not quantifiable.
Is it possible to compound contraventions under FEMA regulations?
Yes, under Section 15 of FEMA, 1999, contraventions can be compounded within 180 days from the date of receipt of the compounding application by the Director of Enforcement or any other officer.
What is the transaction limit under FEMA for remittances without requiring approval?
The Liberalised Remittance Scheme (LRS) allows individuals to conduct certain international transactions involving foreign exchange without approval. The limit for remittance under LRS is $2,50,000 for each financial year.
How does FEMA compliance interact with other regulatory frameworks?
FEMA compliance intersects with various other laws such as income tax, indirect tax, companies act, and SEBI laws. Compliance requires adherence to all relevant regulations.
Are there specific forms for different types of FEMA transactions?
Yes, various forms such as FC-GPR, FC-TRS, ECB reporting, APR, FLA return, and ODI are used for different types of FEMA transactions, each serving specific reporting requirements.
What are the consequences of failing to submit required forms or reports under FEMA?
Failure to submit required forms or reports under FEMA can lead to penalties imposed under Section 13 of FEMA, 1999. It’s essential to comply with reporting obligations to avoid legal consequences.