https://www.taxtmi.com/article/detailed?id=7836 Compounding under the Foreign Exchange Management framework is a voluntary settlement mechanism allowing payment of a penalty in lieu of prosecution for most contraventions, excluding non quantifiable contraventions. Jurisdiction is allocated between the central banking authority and the enforcement agency according to seriousness and intent; the banking authority classifies contraventions and delegates powers to regional offices for certain reporting and transactional breaches. Applications must follow prescribed rules, include the prescribed fee and mode of payment, and are subject to procedural timelines and possible late submission fees. en-us Tue, 30 Jan 2018 08:25:39 +0530 Thu, 01 Feb 2018 12:17:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7836 Compounding under the Foreign Exchange Management framework is a voluntary settlement mechanism allowing payment of a penalty in lieu of prosecution for most contraventions, excluding non quantifiable contraventions. Jurisdiction is allocated between the central banking authority and the enforcement agency according to seriousness and intent; the banking authority classifies contraventions and delegates powers to regional offices for certain reporting and transactional breaches. Applications must follow prescribed rules, include the prescribed fee and mode of payment, and are subject to procedural timelines and possible late submission fees. Articles FEMA - Foreign Exchange Management Tue, 30 Jan 2018 08:25:39 +0530 https://www.taxtmi.com/article/detailed?id=7836