The Foreign Exchange Management Act, 1999, was enacted to replace the Foreign Exchange Regulation Act, 1973 with an objective of consolidating and amending the laws relating to foreign exchange. While the 1973 Act focuses more on regulations and controls, whereas FEMA, 1999 deals more with the management of foreign exchange. FEMA facilitates external trade and promotes the orderly development and maintenance of foreign exchange market in India. The new Act enables the Reserve Bank of India and the Central Government to pass regulations and rules relating to foreign exchange in tune with the Foreign Trade Policy of India. This book comprehensively covers all aspects of foreign exchange management and regulations. This book will be useful for Chartered Accountants, Company Secretaries, Cost Accountants, Advocates, and other professionals dealing with FEMA.
• Written in an easy and simple language, reducing the ambiguity to zero level
• Compiled in a question-answer format, covering almost all questions that a professional is likely to encounter in the field of FEMA
• Includes master circulars and notifications issued by the RBI
• In-depth coverage of rules and regulations under FEMA
• Practical guidance for dealing with FEMA issues
• Prevention of Money Laundering Act, 2002 discussed in detail
• Updated up to August 2015