About FLA Returns
Right now there is a heavy influx of FDI in India. More and more companies are getting capital infusions from abroad. This makes FEMA even more important. Filing FLA returns is now more crucial than ever.
FLA annual returns are one of the compliances that have to be met by the companies that are involved with FDI (Foreign Direct Investments) or companies who invest in foreign companies either via joint venture or wholly-owned subsidiaries, also termed as Overseas Direct Investment (ODI).
Features of Sole Proprietorship
Annual return on Foreign Liabilities and Assets has been notified under FEMA 1999 and it is required to be submitted by all the Indian 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. Non-filing of the return before the due date will be treated as a violation of FEMA and a penalty clause may be invoked for violation of FEMA.
FLA Returns Pricing
We currently offer a single pricing model for FLA returns:
- One segment filing
- Complete document preparation
- Online Filing done by us
The list of documents required to file an FLA return is pretty large and we would discuss this in person when a contract is signed.
Frequently Asked Questions (FAQs)
Here are the answers to the most commonly asked questions
If a company did not receive FDI or made overseas investment in any of the previous year(s) including the current year, do we need to submit the FLA Return?
If the Indian company does not have any outstanding investment in respect of inward and outward FDI as of end-March of the reporting year, the company need not submit the FLA Return.
If the company has not received any inward FDI / made overseas investment in the latest year, do they need to submit the FLA Return?
If the company has not ‘received any fresh FDI and/or ODI (overseas direct investment)’ in the latest year but the company has outstanding FDI and/or ODI, then that company is required to submit the FLA Return every year by July 15.
Is it required to submit an Annual Performance Report for ODI, if we have submitted FLA Return?
FLA Return and Annual Performance Report (APR) for ODI are two different returns and monitored by two different departments of RBI. So you are required to submit both the returns if these are applicable for your company.