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RBI: No Action under FEMA Against Black Money Declarants - (25 Sep 2015)

In order to encourage disclosure of undeclared assets held abroad, RBI has said, "No proceedings shall lie under Foreign Exchange Management Act, 1999 (FEMA) against declarant with respect to an asset held abroad for which taxes and penalties under provisions of Black Money Act have been paid" .

Tags : RBI  FEMA  

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