Hi, is there any time limit one should keep records for FEMA purposes. How many years FEMA authorities can go back and open the case, if they find any contravention of rules?
1 Replies
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 26 March 2011
Although theer are no rules for the same but you can use the provisions of Income Tax Act for the same.
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