RBI Caps FEMA Compounding Penalty at ₹2 Lakh for Exceptional Circumstances
The Reserve Bank of India (RBI) has made an important change to the rules for handling violations under the Foreign Exchange Management Act (FEMA),...
![RBI Announces Relaxations for Exports Via Warehouses in ‘Bharat Mart’, UAE [Read Circular]](https://www.taxscan.in/wp-content/uploads/2025/04/bharat-mart.jpg "RBI Announces Relaxations for Exports Via Warehouses in ‘Bharat Mart’, UAE [Read Circular]")
RBI Notifies 4th Amendment to Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regulations, 2024 [Read Notification]
The Foreign Exchange Department of the Reserve Bank Of India ( RBI ) through Notification No. FEMA 10 (R)/(4)/2024-RB brought certain amendments to the Foreign Exchange Management (Foreign...
Section 56 (2)(vii) not Applicable to Non-Resident: ITAT deletes Income Tax Addition of Rs. 9.31 Cr [Read Order]
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) deleted the addition of Rs. 9.31 crore citing the non-applicability of Section 56(2)(vii) to non-residents. The assessee is a private...
"Money Laundry": ED searches Shipping and Logistics Co, Seizes Assets & Cash worth Rs. 2.54 Cr under FEMA
The Enforcement Directorate ( ED ) has recently carried out extensive searches under the provisions of the Foreign Exchange Management Act, 1999 ( FEMA ) at various locations associated with a...
PayPal valid mode for Receipt of Foreign Export Proceeds under FEMA for GST Purposes: Madras HC [Read Order]
A Single Bench of the Madras High Court has held that PayPal is a valid mode for receipt of foreign export proceeds under Foreign Exchange Management Act and Goods and Services Tax Act. The Goods...
