Whether FLA return is required to be submitted by Registered Partnership Firms (Registered under Partnership Registration Act) or branches or trustees, who have made Overseas Direct Investment or it is mandatory only for Companies (Registered under Companies Act, 1956)?
Annual Return on Foreign Liabilities and Assets (FLA) under FEMA 1999 - As on Nov 14, 2022
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FLA return requirement applies where outward FDI remains outstanding at financial year end, including partnerships and trustees. Registered Partnership Firms, branches and trustees that have any outward FDI outstanding as on the financial year end are required to file the Annual Return on Foreign Liabilities and Assets (FLA); the filing obligation is triggered by outstanding outward investment at year end and is not confined to companies.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
FLA return requirement applies where outward FDI remains outstanding at financial year end, including partnerships and trustees.
Registered Partnership Firms, branches and trustees that have any outward FDI outstanding as on the financial year end are required to file the Annual Return on Foreign Liabilities and Assets (FLA); the filing obligation is triggered by outstanding outward investment at year end and is not confined to companies.
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