The Foreign Exchange Management Act (FEMA) was passed by the Indian Parliament in 1999 to regulate foreign exchange transactions and promote international trade. The act’s objectives include: -Facilitating external trade and payments -Promoting the orderly development of the foreign exchange market -Ensuring the stability of the Indian economy and more GOI has recently issued aContinue reading “Simplifying Foreign Exchange Compliance: Key Updates to FEMA Compounding Proceedings Rules 2024”