https://www.taxtmi.com/news?id=40030 A regulatory probe under the Foreign Exchange Management Act targets alleged unauthorised collection of chit fund subscriptions from persons residing outside India, with the agency recording the producer's statement after searches and seizing cash. The investigation alleges cash collections in contravention of permissible capital account rules and an RBI circular, and cites both cash and cheque receipts from non resident subscribers as the operative compliance concern. en-us Mon, 07 Apr 2025 17:01:03 +0530 Mon, 07 Apr 2025 17:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=40030 A regulatory probe under the Foreign Exchange Management Act targets alleged unauthorised collection of chit fund subscriptions from persons residing outside India, with the agency recording the producer's statement after searches and seizing cash. The investigation alleges cash collections in contravention of permissible capital account rules and an RBI circular, and cites both cash and cheque receipts from non resident subscribers as the operative compliance concern. News - Mon, 07 Apr 2025 17:01:03 +0530 https://www.taxtmi.com/news?id=40030