Filing of Annual Return of Foreign Liabilities & Assets
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ANNUAL RETURN ON FOREIGN LIABILITIES AND ASSETS (FLA RETURN) UNDER FEMA 1999

ANNUAL RETURN ON FOREIGN LIABILITIES AND ASSETS

Applicability:

All the India resident companies which have received FDI and/ or made overseas investment in any of the previous year(s), including current year by July 15 every year. Holding foreign assets and liabilities in their Balance Sheet.

Information should be reported in FLA return:

If the company’s accounts are not audited before the due date of submission, i.e. July 15, then the FLA Return should be submitted based on unaudited (provisional) account. Once the accounts gets audited and there are revisions from the provisional information submitted by the company, they are supposed to submit the revised FLA return based on audited accounts by end - September.

If not filed on Time:

If the company’s accounts are not audited before the due date of submission, i.e. July 15, then the FLA Return should be submitted based on unaudited (provisional) account. Once the accounts gets audited and there are revisions from the provisional information submitted by the company, they are supposed to submit the revised FLA return based on audited accounts by end - September.

Submission of FLA Return:

If the company’s accounts are not audited before the due date of submission, i.e. July 15, then the FLA Return should be submitted based on unaudited (provisional) account. Once the accounts gets audited and there are revisions from the provisional information submitted by the company, they are supposed to submit the revised FLA return based on audited accounts by end - September.

LLP’s are required to file FLA Return:

If the company’s accounts are not audited before the due date of submission, i.e. July 15, then the FLA Return should be submitted based on unaudited (provisional) account. Once the accounts gets audited and there are revisions from the provisional information submitted by the company, they are supposed to submit the revised FLA return based on audited accounts by end - September.