What will be the consequences in case we do not file the said FLA Return by 15th July, as our accounts are not audited as yet, and we do not wish to file it with unaudited figures. Will there be any imposition of penalty or prosecution initiated against the company by RBI or FEMA?
Annual Return on FLA - Registration guidelines - General Instructions and Definitions - As on July 21, 2021
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Non-filing of FLA return may attract FEMA violation treatment and invoke penalty provisions under the law. Non submission of the Annual Return on Foreign Liabilities and Assets by India resident companies that have received FDI or made overseas investments is treated as a violation under FEMA, and such non filing may lead to invocation of the statute's penalty provisions.
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.
Non-filing of FLA return may attract FEMA violation treatment and invoke penalty provisions under the law.
Non submission of the Annual Return on Foreign Liabilities and Assets by India resident companies that have received FDI or made overseas investments is treated as a violation under FEMA, and such non filing may lead to invocation of the statute's penalty provisions.
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