A penalty appellant before the Tribunal under s.19 must generally
ADeposit the penalty amount
BGive a bank guarantee
CPay half the penalty
DPay no deposit at all
Answer & Solution
Correct answer: A. Deposit the penalty amount
The first proviso to s.19(1) requires deposit of the penalty amount while filing, unless the Tribunal dispenses with it for undue hardship.
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Notifications suspending the Act's operation are laid before Parliament for a total periodFEMA repealed which earlier Act?For s.42, a director in relation to a firm meansUnder s.42, he escapes liability if he proves no knowledge orUnder s.42, a person in charge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