FEMA Export proceeds realisation
This query is : Resolved
Rajya Lakshmi
(Querist)
19 January 2010
Dear Expert,
Would any one please clarify me on the following:
Is it compulsory under FEMA regulations to apply for extension of time for export proceeds realisation (after expiry of the initial time limit) or can we directly apply for writing of as Bad Debt (as the given time and the maximum extension period allowed i.e. 12 months is also expired and it is known that we can't realise the outstanding proceeds)
Please Reply
Would any one please clarify me on the following:
Is it compulsory under FEMA regulations to apply for extension of time for export proceeds realisation (after expiry of the initial time limit) or can we directly apply for writing of as Bad Debt (as the given time and the maximum extension period allowed i.e. 12 months is also expired and it is known that we can't realise the outstanding proceeds)
Please Reply
Venkat Rao Marella
(Expert)
19 January 2010
Yes, under FEMA it is compulsory to get the relisation time extended if the relisation gets delayed. this can be done by making an application to the AD in specified form along with the copies of invoices whose realisation got delayed.
The Forex bad debts can be written off only after obtaining a clearance from the AD.
Venkat.
The Forex bad debts can be written off only after obtaining a clearance from the AD.
Venkat.
Rajya Lakshmi
(Querist)
19 January 2010
Thanks
Dhirajlal Rambhia
(Expert)
03 July 2023
"Sorry, I am not a featured member."
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
