https://www.taxtmi.com/forum/issue?id=119694 Breach of the Liberalized Remittance Scheme is measured by comparing yearly remittances against the RBI-prescribed annual ceiling; excess amounts constitute the contravention. Penalties under FEMA may include monetary sanctions computed against the sum involved, investigatory oversight by the RBI and enforcement agencies, directions to repatriate or regularise funds, and disciplinary or prosecutorial steps. Mitigating considerations-intent, documentary compliance, bank error, cooperation and corrective action-inform whether penalties are reduced or whether compounding is permitted; compounding by the RBI can settle liability administratively, subject to eligibility and discretion. en-us Mon, 10 Mar 2025 09:13:53 +0530 Tue, 11 Mar 2025 13:36:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119694 Breach of the Liberalized Remittance Scheme is measured by comparing yearly remittances against the RBI-prescribed annual ceiling; excess amounts constitute the contravention. Penalties under FEMA may include monetary sanctions computed against the sum involved, investigatory oversight by the RBI and enforcement agencies, directions to repatriate or regularise funds, and disciplinary or prosecutorial steps. Mitigating considerations-intent, documentary compliance, bank error, cooperation and corrective action-inform whether penalties are reduced or whether compounding is permitted; compounding by the RBI can settle liability administratively, subject to eligibility and discretion. Discussion-Forum FEMA Mon, 10 Mar 2025 09:13:53 +0530 https://www.taxtmi.com/forum/issue?id=119694