TaxTMI 
TaxTMI 
FERA COMPLIANCE
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....ERA COMPLIANCE<br> Query (Issue) Started By: - hubert fernandes Dated:- 24-2-2021 Last Reply Date:- 1-3-2021 FEMA<br>Got 2 Replies<br>FEMA<br>brief facts of the case is Mr "A"(Non Resident) ....
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....held the subject property (Agrilctural) till his demise , by Mrs B (Wife of Mr "A", Resident Indian) till her Demise in 1990, Inherited by her children (NRI/PIO) and agreed to be sold to a p....
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....artnership(All partners Resident of India) firm in India in the year 1993 and sold to partnership firm by a sale agreement in 1995.We note that through a court order 7 persons have been considered to ....
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....be the sole heirs and successors of late Mr. "A" and Mrs. :B". we intend to purchase the subject property from the partnership firm. Kindly advise us whether any FERA clearances where r....
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....equired to be obtained by the partnership firm at the time of purchase in the year 1995. Or whether any other compliance had to be met . Assuming that the partnership firm had not complied with FERA c....
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....ompliancies , can it be regularized now and under what provisions ? if yes than what will be the financial implication and under what section ? Reply By YAGAY andSUN: The Reply: Maybe appended judgm....
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....ent helpful to you. FERA - Sale or gift of property situated in India by a foreigner in contravention of Section 31 of Act is not enforceable by law: SC Reply By hubert fernandes: The Reply: Thank ....
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