The Foreign Exchange Management Act, 1999 (FEMA), replaced the Foreign Exchange Regulation Act, 1973, with the aim of consolidating and amending laws related to foreign exchange. Unlike the 1973 Act, which focused more on regulations and controls, FEMA, 1999, emphasizes the management of foreign exchange. It facilitates external trade and promotes the orderly development and maintenance of the foreign exchange market in India. The new Act empowers the Reserve Bank of India and the Central Government to enact regulations and rules concerning foreign exchange in alignment with India's Foreign Trade Policy.

This comprehensive book covers all aspects of foreign exchange management and regulations. Written in easy and simple language, it minimizes ambiguity and is structured in a question-answer format, addressing nearly all questions professionals are likely to encounter in the field of FEMA. The book includes master circulars and notifications issued by the RBI, offering practical guidance for dealing with FEMA issues. It also discusses the Prevention of Money Laundering Act, 2002, in detail.

Key Features:

- Written in easy and simple language, reducing ambiguity

- Presented in a question-answer format covering a wide range of topics

- Includes master circulars and notifications issued by the RBI

- Provides in-depth coverage of rules and regulations under FEMA

- Offers practical guidance for dealing with FEMA issues

- Discusses the Prevention of Money Laundering Act, 2002, in detail

- Updated up to August 2015

This book will be beneficial for professionals such as Chartered Accountants, Company Secretaries, Cost Accountants, Advocates, and others dealing with FEMA regulations.