FLA reporting moved to secure web portal; online submission mandatory, non-compliance treated as FEMA violation. Reserve Bank requires migration of Annual Return on Foreign Liabilities and Assets to a web-based FLAIR portal with entity registration, RBI-issued login credentials, system-driven validation, system-generated acknowledgements, ability to revise and download filings, and provision to submit earlier years on RBI confirmation. The revised form mandates investor-wise direct investment and fiscal-year financial details, broader FATS reporting, and fields for first year of FDI/ODI receipt and disinvestment. Email submission is discontinued and non-compliance will be treated as non-compliance with the Foreign Exchange Management Act, effective immediately for 2018-19.
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Provisions expressly mentioned in the judgment/order text.
FLA reporting moved to secure web portal; online submission mandatory, non-compliance treated as FEMA violation.
Reserve Bank requires migration of Annual Return on Foreign Liabilities and Assets to a web-based FLAIR portal with entity registration, RBI-issued login credentials, system-driven validation, system-generated acknowledgements, ability to revise and download filings, and provision to submit earlier years on RBI confirmation. The revised form mandates investor-wise direct investment and fiscal-year financial details, broader FATS reporting, and fields for first year of FDI/ODI receipt and disinvestment. Email submission is discontinued and non-compliance will be treated as non-compliance with the Foreign Exchange Management Act, effective immediately for 2018-19.
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