*Comprehensive Guide to Compounding under FEMA – Powered by Taxmann.com | Practice* #taxmannpractice As per Rule 9 of Foreign Exchange (Compounding Proceedings) Rules, 2024, no contravention shall be compounded where the provisions of section 37A of FEMA, relating to the illegal holding of immovable property abroad, are applicable. 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬: ‣ Contraventions involving Section 37A of FEMA are explicitly excluded from being compounded ‣ Seizure of assets within India is allowed if an authorized officer has reason to believe that foreign exchange, foreign security or immovable property is held in violation of section 4 of the Act For In-depth Guidelines on Compounding under FEMA, Visit: https://taxmann.social/8aTtJ 𝘛𝘩𝘪𝘴 𝘤𝘰𝘯𝘵𝘦𝘯𝘵 𝘪𝘴 𝘣𝘳𝘰𝘶𝘨𝘩𝘵 𝘵𝘰 𝘺𝘰𝘶 𝘣𝘺 𝘛𝘢𝘹𝘮𝘢𝘯𝘯.𝘤𝘰𝘮 | 𝘗𝘳𝘢𝘤𝘵𝘪𝘤𝘦 #taxmannupdates #fema #compounding #rbi #foreignexchange