FEMA reporting requirements rationalised as revised return formats, discontinued registers, and simplified foreign currency note write-off reporting. Reporting requirements under FEMA, 1999 are rationalised by revised formats and discontinued returns for authorised persons. The updated FLM-8 now captures write-off of foreign currency notes, prior approval for write-off above USD 2000 is discontinued, and entities maintaining Nostro accounts and reporting through FETERS need not submit FLM-8. Quarterly submission of franchisee and Sub-Agent lists is prescribed, while FLM-1 to FLM-7 registers and several MTSS-related returns are discontinued, subject to continuing record-keeping, collateral adequacy, and inspection requirements.
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Provisions expressly mentioned in the judgment/order text.
FEMA reporting requirements rationalised as revised return formats, discontinued registers, and simplified foreign currency note write-off reporting.
Reporting requirements under FEMA, 1999 are rationalised by revised formats and discontinued returns for authorised persons. The updated FLM-8 now captures write-off of foreign currency notes, prior approval for write-off above USD 2000 is discontinued, and entities maintaining Nostro accounts and reporting through FETERS need not submit FLM-8. Quarterly submission of franchisee and Sub-Agent lists is prescribed, while FLM-1 to FLM-7 registers and several MTSS-related returns are discontinued, subject to continuing record-keeping, collateral adequacy, and inspection requirements.
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