FAQ on Compounding of Contraventions under FEMA, 1999 By Anand Gupta TaxGuru

FAQ on Compounding of Contraventions under FEMA, 1999 Contravention is a breach of the provisions of the Foreign Exchange Management Act (FEMA), 1999 and rules/ regulations/ notification/ orders/ directions/ circulars issued there under. Compounding refers to the process of voluntarily admitting the contravention, pleading guilty and seeking redressal.

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