simplebooklet thumbnail

of 0
Lesson 1 Foreign Exchange Management Section I LESSON OUTLINE Objective of FEMA, 1999 Foreign Exchange Foreign Securities ...
2  EP-ECL  INTRODUCTION The Foreign Exchange Regulation Act, 1973, which was enacted to consolidate and amend the law in s...
Lesson 1  Foreign Exchange Management  3  Currency Notes  Section 2 i      Currency Notes    means and includes cash in th...
4  EP-ECL  The first category includes any person who has gone out of India or who stays outside India for or on taking up...
Lesson 1  Foreign Exchange Management  5   b  Remittance of income from racing riding etc. or any other hobby   c  Remitta...
6  EP-ECL  to as the said Liberalised Remittance Scheme  if it is so required by a country of emigration, medical institut...
Lesson 1  Foreign Exchange Management  7  individual has already remitted any amount under the LRS, then the applicable li...
8  EP-ECL  security or any immovable property situated outside India, if such currency, security or property was acquired,...
Lesson 1  Foreign Exchange Management  9  Classes of Capital Account Transactions of Persons Resident Outside India  i  In...
10 EP-ECL which are notified by the Reserve Bank of India as amendments to the Foreign Exchange Management  Transfer or Is...
Lesson 1  Foreign Exchange Management 11     Erstwhile Overseas Corporate Body    OCB  means a company, partnership firm, ...
12 EP-ECL  b  Which is engaged in the business of providing services, production or manufacture of articles or things, but...
Lesson 1  Foreign Exchange Management 13   g  any agency, office, or branch owned or controlled by such person.    Person ...
14 EP-ECL    Sweat Equity Shares    means such equity shares as issued by a company to its directors or employees at a dis...
Lesson 1  Foreign Exchange Management 15  A SEBI registered Foreign Venture Capital Investor  FVCI  may contribute up to 1...
16 EP-ECL FDI in Limited Liability Partnerships  LLPs  FDI in LLPs is permitted subject to the following conditions      F...
Lesson 1  Foreign Exchange Management 17      It is clarified that Foreign investment shall include all types of foreign i...
18 EP-ECL FDI- PERMITTED SECTORS     Floriculture, Horticulture, Apiculture and Cultivation of Vegetables   Mushrooms unde...
Lesson 1  Foreign Exchange Management 19      Banking- Private Sector     Banking- Public Sector     Commodity Exchanges  ...
20 EP-ECL  5  Issue of Foreign Currency Convertible Bonds  FCCBs  and Depository Receipts DRs   a  FCCBs DRs may be issued...
Lesson 1  Foreign Exchange Management 21  not issued within 180 days from the date of receipt of the inward remittance or ...
22 EP-ECL     A person resident outside India can sell the shares and convertible debentures of an Indian company on a rec...
Lesson 1  Foreign Exchange Management 23  PRIOR PERMISSION OF RBI IN CERTAIN CASES FOR TRANSFER OF CAPITAL INSTRUMENTS In ...
24 EP-ECL B. Transfer of shares from Resident to Non-Resident   i  Where the transfer of shares requires the prior approva...
Lesson 1  Foreign Exchange Management 25  know-how fee, royalty due for payment, subject to entry route, sectoral cap and ...
26 EP-ECL to the persons resident outside India shall be      in the case of shares of a company listed on a recognized st...
Lesson 1  Foreign Exchange Management 27  overseas subsidiary subsidiaries who are resident outside India, provided that  ...
28 EP-ECL  B  Non-residents holding shares of an Indian company, can pledge these shares in favour of the AD bank in India...
Lesson 1  Foreign Exchange Management 29  provided for.     Auditor s certificate to the effect that the winding up is in ...
30 EP-ECL  C  the company is eligible to issue shares under these Regulations  and  D  the company has all original certif...
Lesson 1  Foreign Exchange Management 31  The words  ECB wholly converted to equity  shall be clearly indicated on top of ...
32 EP-ECL  Adjudication Proceedings and Appeal  Rules, 2000, an Appellate Authority  Appellate Tribunal to hear appeals ag...
Lesson 1  Foreign Exchange Management 33  General Permission In terms of Regulation 4 general permission has been granted ...
34 EP-ECL In case of investment in overseas JV WOS abroad by a registered Partnership firm, where entire funding for such ...
Lesson 1  Foreign Exchange Management 35  In respect of  vi  and  vii  above, the ceiling of 400 per cent of net worth doe...
36 EP-ECL Investment by Mutual Funds Mutual Funds are permitted to invest in ADRs GDRs of the Indian and foreign companies...
Lesson 1  Foreign Exchange Management 37  in the same sector s  in a Joint Venture or Wholly Owned Subsidiary outside Indi...
38 EP-ECL put under obligation to  a  receive share certificate or any other document as an evidence of investment,  b  re...
Lesson 1  Foreign Exchange Management 39  Management Act, 1999 or Rules or Regulations made thereunder are allowed to be p...
40 EP-ECL exchange held in Resident Foreign Currency  RFC  account maintained in accordance with the Foreign Exchange Mana...
Lesson 1  Foreign Exchange Management 41  transfer agricultural land farm house plantation property in India, by way of gi...
42 EP-ECL ESTABLISHMENT IN INDIA OF BRANCH LIAISON PROJECT OFFICE Establishment of Branch Liaison  Project Offices in Indi...
Lesson 1  Foreign Exchange Management 43      Promoting technical financial collaborations between parent group companies ...
44 EP-ECL     the project is funded by a bilateral or multilateral International Financing Agency  or     the project has ...
Lesson 1  Foreign Exchange Management 45  Export of Goods or Services Without Declaration Export of goods or services may ...
46 EP-ECL Manner of Payment of Export Value of Goods Unless otherwise authorised by the Reserve Bank, the amount represent...
Lesson 1  Foreign Exchange Management 47  the goods or software is made otherwise than in the specified manner  or that th...
48 EP-ECL repatriate the foreign exchange due or accrued as per the directions of the Reserve Bank. Foreign Exchange Manag...
Lesson 1  Foreign Exchange Management 49  Provisions relating to holding of foreign exchange, realisation and repatriation...
50 EP-ECL Reserve Bank of India has been empowered to revoke the authorisation granted to any person at any time in the pu...
Lesson 1  Foreign Exchange Management 51  reversed or inconsistent with the constitutional mandate or a patent abuse of po...
52 EP-ECL committed to civil imprisonment and unless the Adjudicating Authority, for reasons in writing, is satisfied that...
Lesson 1  Foreign Exchange Management 53  Powers of Reserve Bank to Compound Contravention Rule 4 empowers the RBI to comp...
54 EP-ECL the order of compounding of such contravention by demand draft in favour of the Compounding Authority. In case a...
Lesson 1  Foreign Exchange Management 55  deem fit. The Chairperson can also transfer member of one bench to another bench...
56 EP-ECL draft, cheque or other instrument and to credit the proceeds of such encashment  less any commission and expense...
Lesson 1  Foreign Exchange Management 57      Resident outside India and permitted by the Reserve Bank to establish a bran...
58 EP-ECL
Foreign Exchange Management  Foreign Contribution  Regulation  Act, 2010  Section II LESSON OUTLINE     Objective of FCRA ...
60 EP-ECL  INTRODUCTION The Foreign Contribution  Regulation  Act, 1976 was enacted to regulate the acceptance and utiliza...
Lesson 1  Foreign Contribution  Regulation  Act, 2010 61   ii  a company which is a subsidiary of a foreign company   iii ...
62 EP-ECL  v  a multi-national corporation referred to in sub-clause  iv  of clause  g    vi  a company within the meaning...
Lesson 1  Foreign Contribution  Regulation  Act, 2010 63   B  which has set up candidates for election to any Legislature,...
64 EP-ECL in that section, of any foreign contribution where such contribution is accepted by him, subject to the provisio...
Lesson 1  Foreign Contribution  Regulation  Act, 2010 65  Prohibition to transfer foreign contribution to other person Sec...
66 EP-ECL Power of Central Government to prohibit receipt of foreign contribution Section 9 deals with power of Central Go...
Lesson 1  Foreign Contribution  Regulation  Act, 2010 67  programme shall accept foreign contribution if such person obtai...
68 EP-ECL  v  is not engaged or likely to engage in propagation of sedition or advocate violent methods to achieve its end...
Lesson 1  Foreign Contribution  Regulation  Act, 2010 69  Suspension of certificate Section 13  1  provides that where the...
70 EP-ECL Application for Renewal The application for renewal of the certificate shall be made to the Central Government i...
Lesson 1  Foreign Contribution  Regulation  Act, 2010 71  kept or maintained by such person and thereupon every such offic...
72 EP-ECL Section 30 provides that no order of adjudication of confiscation shall be made unless a reasonable opportunity ...
Lesson 1  Foreign Contribution  Regulation  Act, 2010 73  Section 41 2  provides that any second or subsequent offence com...
74 EP-ECL
Lesson 2 Foreign Trade Policy and Procedure Section I LESSON OUTLINE Introduction Focus of the Foreign Trade Policy Legal ...
76 EP-ECL  INTRODUCTION India   s Foreign Trade Policy  FTP  has, conventionally, been formulated for five years at a time...
Lesson 2  Foreign Trade Policy and Procedure 77  under Section 5 of the Foreign Trade  Development   Regulation  Act, 1992...
78 EP-ECL postal address  or  ii  any laboratory, Scientific or Research and Development  R D  institution, university or ...
Lesson 2  Foreign Trade Policy and Procedure 79   Domestic Tariff Area  DTA   means area within India which is outside SEZ...
80 EP-ECL  Manufacturer Exporter  means a person who exports goods manufactured by him or intends to export such goods.   ...
Lesson 2  Foreign Trade Policy and Procedure 81   iii  Supply of a    service    from India through commercial presence in...
82 EP-ECL  b  ITC  HS  is aligned at 6 digit level with international Harmonized System goods nomenclature maintained by W...
Lesson 2  Foreign Trade Policy and Procedure 83   1   PAN of the business entity in whose name Import Export would be done...
84 EP-ECL Further, exemption from obtaining IEC shall not be applicable for export of Special Chemicals, Organisms, Materi...
Lesson 2  Foreign Trade Policy and Procedure 85  Only one IEC against one Permanent Account Number  PAN  Only one IEC is p...