Late submission fee for delayed FEMA guarantee reporting: Rs.7500 plus 0.025% of the amount per year, rounded. Regulation 8 requires persons resident in India who miss reporting under Regulation 7(3) to pay a Late Submission Fee when reporting late or to remit the fee if reporting already occurred late. The fee equals Rs. 7,500 plus 0.025% x A x n, with the total rounded upwards to the nearest hundred; 'n' is years of delay rounded up to the nearest month and shown to two decimals, and 'A' is the amount involved in INR.
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Late submission fee for delayed FEMA guarantee reporting: Rs.7500 plus 0.025% of the amount per year, rounded.
Regulation 8 requires persons resident in India who miss reporting under Regulation 7(3) to pay a Late Submission Fee when reporting late or to remit the fee if reporting already occurred late. The fee equals Rs. 7,500 plus 0.025% x A x n, with the total rounded upwards to the nearest hundred; "n" is years of delay rounded up to the nearest month and shown to two decimals, and "A" is the amount involved in INR.
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