When a defaulter is a Hindu Undivided Family, s.14 treats who as the defaulter?
AThe Karta of the family
BThe eldest daughter
CEvery adult coparcener
DThe family accountant
Answer & Solution
Correct answer: A. The Karta of the family
The Explanation to s.14(6) deems the Karta of the Hindu Undivided Family to be the defaulter.
Keep practising Foreign Exchange Management Act 1999
Browse all Foreign Exchange Management Act 1999 questions for CA Final, or explore more Law topics.
Related questions
Notifications suspending the Act's operation are laid before Parliament for a total periodFEMA repealed which earlier Act?For s.42, a director in relation to a firm meansUnder s.42, he escapes liability if he proves no knowledge orUnder s.42, a person in charge of a company at the time of contravention isWho gives general directions to RBI under FEMA?Under s.37(3), enforcement officers exercise powers like those ofUnder s.37, investigation of a s.13 contravention is by officers not below