Self-certification of APR would suffice in case of resident individuals.ĭue date: The due date for filing is on or before 31st December every year.Įxternal commercial borrowing (ECBs) are loans in India made by non-resident lenders in foreign currency to Indian borrowers. The Annual Performance Report (APR) provides information on the agency's progress achieving the goals and objectives described in the agency's Strategic Plan and Annual Performance Plan, including progress on strategic objectives, performance goals and Agency Priority Goals.Īny Indian resident or party who has made an ODI (Overseas Direct Investment) needs to submit Annual Performance Report(APR) in Form ODI Part II on the Authorised Dealer (AD) bank in respect of each Joint Venture, Wholly Owned Subsidiaries (WOS) outside India certified by the Statutory auditor of the Indian party. However, in cases where the accounts are not audited before the due date of submission, the FLA return should be submitted based on unaudited accounts and once audited, the revised FLA return is to be submitted by September 30th of the same financial year. The Annual Return on Foreign Liabilities and Assets (FLA) shall be submitted directly by all the Indian Companies which has received FDI and/or made FDI abroad (i.e., overseas investment) in the previous financial year(s) including the current financial year i.e., holding the foreign Assets or Liabilities in the Balance Sheet.ĭue date: The due date for filing is on or before July 15th of every year.Įxplanation: for this purpose Year shall be reckoned as “April to March”. Annual Return on Foreign Liabilities and Assets (FLA) RBI various reports/ returns are required to be submitted under FEMA are consolidated in the Single Master Form (SMF)ġ. Lottery business, including private lottery, online lottery, Nidhi company, Chit funds, Real estate business, Construction companies, Casinos (gambling and betting), Atomic energy, etc.ġ.Annual Return on Foreign Liabilities and Assets (FLA) However, FDI is not permitted for the inventory-based model of e-commerce activities.Ĭertain sectors where FDI is not permitted under any routes: The Indian government has put in place policies and regulations to encourage foreign companies to invest in India, including measures to simplify the process of setting up a business in the country, and tax and other incentives for companies that invest in certain sectors.Ĭertain sectors where 100% FDI is permitted under Government route:įood products retail trading, Printing & publishing of scientific, magazines/ journals/ periodicals, Core investment company etc.Ĭertain sectors where 100% FDI is permitted under Automatic route:Īgriculture,Animal Husbandry, marketplace model of e-commerce activities, Healthcare, Manufacturing, Textiles & Garments, Capital Goods etc. In India, foreign companies are allowed to invest in a wide range of sectors, with certain restrictions in some industries such as defense, atomic energy, and retail. Government Route – Under the Government route, prior approval from the government is needed through FIPB. Automatic Route – Under the automatic route, no prior approval of the government or RBI is required.Ģ. The FDI can be executed through two routes:ġ. The FIFP is regulated by the Department of Industry and Internal Trade (DPIIT). The Indian government has set up a Foreign Investment Facilitation Portal (FIFP) which replaced Foreign Investment Promotion Board (FIPB) in 2017 to review and approve foreign investment proposals in India. FEMA sets forth the procedures, rules, regulations, compliances with respect to all foreign exchange transactions in India. It aims to provide support and help towards foreign exchange market development and maintenance in India. The main objective of FEMA was to help facilitate external trade and payments in India. FDI is any overseas investment more than 10% by a foreigner or foreign company in an Indian start-up or venture. FDI is a source of funding by the foreign companies or individuals to boost and establish start-up business in India. The FDI policy was announced by the Government of India and RBI issued vide notification FEMA 20/2000-RB dated which contains the Regulations in this regard. Foreign Direct Investment (FDI) in India is regulated and governed by the Reserve Bank of India (RBI) – Foreign Exchange Management Act (FEMA), 1999. Pitch 1 FEMA/ RBI Compliance Checklist for Indian Companies with FDI.
0 Comments
Leave a Reply. |