FEMA Practice Manual (A Comprehensive Day to Day FEMA Guide for Professionals)

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Description
The law relating to foreign exchange is of great importance to any country. The Foreign Exchange Policy decisions are based on a detailed assessment of the global and domestic macroeconomic situation. As the economy grows the growth needs of the industry increases however, there have to be a balance between the growth of the country and the industrial growth, both has to go hand in hands and where both supplements each other. Therefore, the monetary policy has to achieve dual goal of development as well as
regulation. Monetary Policies of Reserve Bank of India along with Fiscal policy of Government play a very crucial role in overall progress of economy. Number of measures taken by the Government along with RBI to put in place an enabling investor friendly FDI Policy has resulted in increased FDI inflows setting up new records. As per Economic Survey 2021-22, FDI inflows in India stood at US $ 45.14 billion in 2014-15 and have continuously increased since then. India registered its highest ever annual FDI inflow of US$ 81.97 billion in the 2020-21 reflecting a growth of 10 per cent as compared to the previous year. Over the last seven financial years (2014-21), India received FDI inflow worth US$ 440.27 billion which is nearly 58 per cent of the FDI received by the country in the last 21 years (US$ 763.83 billion). Several initiatives have been taken by the Government since April 2020 to further reform the FDI policy framework to ensure against opportunistic takeovers and  Acquisitions while also facilitating an increased flow of long-term capital, global technology, processes and international best practices to support the growth of these sectors. According to the World Investment Report 2021 by the UN Conference on Trade and Development (UNCTAD), India was the fifth-largest recipient of Foreign Direct Investment (FDI) in 2020 improving its rank by four places, from ninth position in 2019.
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Table of Contents
Division 1
Chapter 1 : Introduction to Foreign Exchange Management Act, 1999
Chapter 2 : Conceptualisation under FEMA
Chapter 3 : Residential Status under FEMA
Chapter 4 : Regulations Under FEMA
Chapter 5 : Currency And Exchange
Chapter 6 : Balance Sheet Approach To Evaluate Transaction Under FEMA
Chapter 7 : Bank Accounts
Division 2
Chapter 8 : Governing Regulation Of Foreign Investment In India
Chapter 9 : Foreign Investment
Chapter 10 : Foreign Direct Investment
Chapter 11 : Entry Routes And Procedure Of Investment
Chapter 12 : Consideration And Pricing
Chapter 13 : Mode Of Investment
Chapter 14 : Downstream Investment
Chapter 15 : Foreign Portfolio Investors
Chapter 16 : Investment In Debt Instruments by FIP
Chapter 17 : Foreign Direct Investments In Limited Liability Partnership
Chapter 18 : Foreign Venture Capital Investors
Chapter 19 : Liaison Office/Branch Office?Project Office
Chapter 20 : Non-Resident Indians
Chapter 21 : Investment In REITs And InvITs
Chapter 22 : FID In A Start-Up Company
Chapter 23 : Cross Border-Mergers And Acquisitions
Division 3
Chapter 24 : Acquisition And Transfer Of Immovable Property In India
Chapter 25 : Acquisition Of Immovable Property Outside India
Division 4
Chapter 26 : Trade Finance
Chapter 27 : External Commercial Borrowing
Chapter 28 : Acceptance Of Deposits, Pledge Of Share And Creation Of Charge
Chapter 29 : Guarantees
Chapter 30 : Loan To Foreign Entities
Division 5
Chapter 31 : Investment In Ifsc
Division 6
Chapter 32 : Introduction
Chapter 33 : Obligations Of Exporter
Chapter 34 : Realisation And Repatriation Of Proceeds Of Export Of Goods/ Software/Services
Chapter 35 : Non-Realisation And Other
Chapter 36 : Type Of Exports
Chapter 37 : Import
Chapter 38 : Merchanting Trade
Division 7
Chapter 39 : Compounding Under Fema
Chapter 40 : Late Submission Fees (Lsf)
Chapter 41 : Penalty, Appeal And Adjudication
Chapter 42 : Enforcement Directorate
Division 8
Chapter 43 : Overseas Investment Regime
Chapter 44 : New Definitions Introduced
Chapter 45 : Erstwhile Investments
Chapter 46 : Framework Of New Oi Regime
Chapter 47 : Overseas Investment
Chapter 48 : Investment By Resident Individuals
Chapter 49 : Overseas Investment By Trusts/Societies/Ad Banks/Depository/ Stock Exchanges Etc.
Chapter 50 : Role And Responsibility Of Ad Banks
Chapter 51 : Exit From Overseas Investment
Chapter 52 : Overseas Investment By Aifs And Venture Capital Funds
Chapter 53 : Cross Border Transaction With Regard To Virtual Currencies
Chapter 54 : Tcs On Remittances Under Liberalised Remittance Scheme
Chapter 55 : Reporting Of Overseas Investment
Apendices : Master Direction - Reporting Under Foreign Exchange Management Act, 1999
Part I to Part XII
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Author Details
Ms Sudha G. Bhushan is a member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of India. She is an Insolvency Resolution Professional and a Registered Valuer registered with the Insolvency and Bankruptcy Board of India and an independent director registered with the Ministry of Corporate Affairs.
Sudha is the Co-Founder of Taxpert Professionals, a multifaceted consulting company. She is an advisor to the Bank of Baroda, NRI and international operations. She is also empanelled with other Banks, including the HDFC Bank. She is presently an Independent Director with Aurionpro Solutions Limited, Choice International Limited, DIGJAM Limited and Matix Fertilisers and Chemicals Ltd. She is an expert in India FDI Policy and Foreign Exchange Management Act, 1999 (FEMA) and has worked in the area for more than two decades. She has authored 5+ books on the FDI, FEMA and International Taxation. She is chairperson for the Entrepreneurs Now committee, Indian Merchant Chamber – LW. She is a member of Indo French Chamber of Commerce and Industry. She has been/is a member of the Committee of International Taxation, Valuation committee, Member of Editorial Committee of WIRC of ICAI and Committee of women empowerment of ICAI.