https://www.taxtmi.com/article/detailed?id=10516 Compounding under Section 41(1) of the Foreign Contribution (Regulation) Act allows specified non-imprisonable offences to be settled by payment of prescribed sums before prosecution; applications are filed electronically with a fee and processed under Central Government supervision, compounding bars subsequent prosecution for that offence, authorities may direct belated filing of requisite returns or documents, the provision excludes offences within three years of a previously compounded similar offence, compound fees and percentage-based formulae are prescribed by notification with a cap not exceeding the value of the foreign contribution, and the Director or Deputy Secretary acts as compounding authority. en-us Tue, 12 Jul 2022 10:39:36 +0530 Tue, 12 Jul 2022 10:39:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10516 Compounding under Section 41(1) of the Foreign Contribution (Regulation) Act allows specified non-imprisonable offences to be settled by payment of prescribed sums before prosecution; applications are filed electronically with a fee and processed under Central Government supervision, compounding bars subsequent prosecution for that offence, authorities may direct belated filing of requisite returns or documents, the provision excludes offences within three years of a previously compounded similar offence, compound fees and percentage-based formulae are prescribed by notification with a cap not exceeding the value of the foreign contribution, and the Director or Deputy Secretary acts as compounding authority. Articles FEMA - Foreign Exchange Management Tue, 12 Jul 2022 10:39:36 +0530 https://www.taxtmi.com/article/detailed?id=10516