The presentation on 'Do's and Don’ts for NRIs under FEMA' was made at 'Seminar on FEMA' organized by Western Indian Regional Council, Institute of Chartered Accountants of India and also at Matunga CPE Study Circle of Western Indian Regional Council. This presentation covered the essential parts of the Indian Foreign Exchange Regulatory framework applicable to NRIs. The presentation on 'Recent Developments under FEMA' was additionally made at Matunga CPE Study Circle of Western Indian Regional Council. Important recent developments were explained such as issuance of revised regulations for ECB; revised regulations for acquisition and transfer of Immovable Property in India and change in FDI Policy for e-commerce sector.
The session gave a complete overview of FEMA Provisions. It covered the following: Framework of FEMA, Capital account vs. Current account Transactions, Setting up of Liaison Office / Branch Office and Project Office in India, FDI and other Inbound Investment Regulations, Outbound Investment Regulations, External Commercial Borrowing Regulations, Deposits and Accounts in India by Non-residents, Foreign Currency Accounts by Indian Residents, Borrowing and Lending in Rupee Regulations, Remittance Outside India Regulations, Acquisition and Transfer of Immovable Property in India Regulations and Compounding of Contraventions under FEMA.
The participants were first introduced to the subject of 'Article 24: Non-Discrimination' by explaining the commentary under OECD and UN Model Convention. Thereafter, the relevant judicial decisions under Indian DTAAs were analyzed and discussed.
The Chamber of Tax Consultants (December 2018)
Intensive Study Course on FEMA was designed by The Chamber of Tax Consultants to enable professionals to gain sufficient knowledge for commencing advisory services in foreign exchange regulations as well as to keep existing practitioners abreast of recent developments. The participants were initially explained entire FEMA Notification 22(R)/2016 dated 31/03/2016 and the session ended with discussion on proprietary case studies prepared on this subject.
The session dealt with an overview of Indian Foreign Exchange Regulations as well as deal with certain types of Foreign Investments into India to a cross-section of industry professionals. This session was part of workshop on 'FEMA Regulation and FDI Policy' conducted by Corptive Research Private Limited. Peer faculty for the workshop included partners from law firms such as JSA Advocates and Solicitors & Shardul Amarchand Mangaldas and Co.
The session was conducted by the FEMA Study Circle of the Chamber of Tax Consultants on 09/07/2018. RBI vide A.P (DIR Series) Circular No. 30 dt. 07/06/2018 had instructed Indian entities to input their existing foreign investment (including indirect foreign investment) data in Entity Master. Due date of filing data was initially 12/07/18 and then extended to 20/07/18.
The session was conducted by Vasai Branch of WIRC, ICAI on 17/07/2018 at the Branch premises.
The Committee on Economic, Commercial Laws & Economic Advisory of The Institute of Chartered Accountants of India conducted this live national webcast consisted of two parts: (1) Recent Developments in Real Estate: Impact of RERA, Taxation of Joint Developments, Affordable Housing; (2) FEMA & FDI issues in Real Estate.
The second part on FEMA & FDI issues in Real Estate explained the various modes of investing into real estate in India represented by Notification No. FEMA 21(R)/2018-RB; FEMA 20(R)/2017-RB; FEMA 4/2000-RB and FEMA 5(R)/2016-RB. The presentation was followed by live Q&A session.