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...Applicability of fema ca rajkumar s adukia b com hons fca acs mba aicwa llb dip in ifrs uk rajkumarfca gmail www caaa to receive regular updates kindly send test email subscribe yahoogropups the foreign exchange management act was enacted consolidate and amend law relating with objective facilitating external trade payments for promoting orderly development maintenance market india fact it is central legislation that deals inbound investments into outbound from business between other countries this applicable all parts i e applies any transaction takes place by person residing at time also branches offices agencies outside owned or controlled a who resident contravention committed these entities covered under residential status most important factor determining persons are non indian nri overseas corporate body ocb origin pio as per definition means more than one hundred eighty two days during course preceding financial year but does not include has gone out stays either case on taking...