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of <h1>Late reporting of India residency disclosures u/reg 7(3) can be regularised by paying Late Submission Fee formula.</h1> A person resident in India who fails to comply with the reporting obligations specified in regulation 7(3) may regularise the delay by completing the required reporting along with payment of a Late Submission Fee, or by paying the Late Submission Fee where reporting has already been made belatedly, thereby enabling delayed reporting to be accepted subject to the prescribed fee. The Late Submission Fee is calculated as Rs. 7,500 plus 0.025% × A × n, rounded upwards to the nearest hundred, where A is the amount involved in the delayed reporting in INR and n is the period of delay in years, rounded upwards to the nearest month and expressed up to two decimal points.
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