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CA Inter Foreign Exchange Management Act 1999 — practice questions — page 3

Explore 71 free Foreign Exchange Management Act 1999 questions in CA Inter Law. Open each question or exercise to read its content, reference answers and available explanation.

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Foreign Exchange Management Act 1999 questions and exercises with answers

Showing questions 61–71 of 71.

A rule or regulation under FEMA is laid before each House of Parliament for a total period of:Read the answer and worked solution →The FEMA definition of service excludes any service rendered:Read the answer and worked solution →Export of services under FEMA means providing services from India to:Read the answer and worked solution →Under FEMA, import means bringing into India:Read the answer and worked solution →Which of these falls within the meaning of currency in FEMA?Read the answer and worked solution →A company receiving FDI files which annual FEMA return?Read the answer and worked solution →FEMA aims at promoting orderly development and maintenance of the:Read the answer and worked solution →Under FERA, an accused was presumed:Read the answer and worked solution →Contraventions under FEMA are treated as:Read the answer and worked solution →FEMA borrows the meaning of chartered accountant from:Read the answer and worked solution →Who may regulate a non-resident's setting up of a branch office in India?Read the answer and worked solution →

Worked practice questions

A rule or regulation under FEMA is laid before each House of Parliament for a total period of:

  1. 60 days
  2. 21 days
  3. 30 days
  4. 14 days
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Correct answer: C. 30 days

Section 48 requires laying for thirty days, which may span one session or successive sessions.

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The FEMA definition of service excludes any service rendered:

  1. Free of charge
  2. By a bank
  3. Outside India
  4. To an exporter
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Correct answer: A. Free of charge

Section 2(zb) leaves out free services and those under a contract of personal service.

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Export of services under FEMA means providing services from India to:

  1. Any person in India
  2. Banks in India only
  3. A person outside India
  4. Only units in SEZs
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Correct answer: C. A person outside India

Section 2(l)(ii) treats provision of services from India to a person outside India as export.

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