https://www.taxtmi.com/article/detailed?id=13887 The Liberalized Remittance Scheme permits specified outward remittances subject to an annual ceiling; breaches are contraventions under FEMA, with Authorized Dealers responsible for initial verification and the RBI conducting oversight and enquiries. Penalties under the FEMA regime are imposed according to the severity of the breach and may involve daily charges and capped sanctions, while the Enforcement Directorate may investigate serious or deliberate violations. Eligible contraventions may be settled via the RBI's compounding process upon application and payment, though serious offenses may be ineligible; appeals lie to the Appellate Tribunal for Foreign Exchange and thereafter to the High Court. en-us Mon, 24 Mar 2025 08:45:25 +0530 Mon, 24 Mar 2025 08:45:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13887 The Liberalized Remittance Scheme permits specified outward remittances subject to an annual ceiling; breaches are contraventions under FEMA, with Authorized Dealers responsible for initial verification and the RBI conducting oversight and enquiries. Penalties under the FEMA regime are imposed according to the severity of the breach and may involve daily charges and capped sanctions, while the Enforcement Directorate may investigate serious or deliberate violations. Eligible contraventions may be settled via the RBI's compounding process upon application and payment, though serious offenses may be ineligible; appeals lie to the Appellate Tribunal for Foreign Exchange and thereafter to the High Court. Articles FEMA - Foreign Exchange Management Mon, 24 Mar 2025 08:45:25 +0530 https://www.taxtmi.com/article/detailed?id=13887