Late FLA return submission permitted with prior approval; late submission may attract regulatory penalties and compliance consequences. Entities required to file the Annual Return on Foreign Liabilities and Assets (FLA) may submit the return after the prescribed due date provided they ... Summary
Late FLA return submission permitted with prior approval; late submission may attract regulatory penalties and compliance consequences.
Entities required to file the Annual Return on Foreign Liabilities and Assets (FLA) may submit the return after the prescribed due date provided they obtain prior approval from the Reserve Bank; such post due submissions remain subject to penalty exposure for delayed filing.
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