COMPOUNDING OF CONTRAVENTIONS UNDER FEMA, 1999 - REFUND OF COMPOUNDING FEES

ISSUING AUTHORITY : RESERVE BANK OF INDIA

DATE OF ISSUE : 12/08/2013

EFFECTIVE DATE : IMMEDIATE EFFECT

CIRCULAR NO. 20

It has been decided to expedite the refund of compounding fees for Return of Applications for Compounding of contraventions of FEMA, 1999, which are submitted without obtaining prior approvals or permission from the concerned authorities, by way of crediting the application fees of Rs. 5000/- (received along with application) to the applicants's account through NEFT.

Hence, the applicant's are required to include the details of Income Tax PAN and the Activity as per NIC Codes and are advised to furnish their details of bank account as per ANNEX to the said Circular.

For detailed Circular, log on to the Link given below:
A.P. (DIR Series) Circular No. 20