FLA portal

[Paridhi Agarwal]

Hi Professionals,

Can anyone able to access FLA site (FLAIR portal)? Further, is there is any extension given by RBI in respect of filing the return?

Thanks

With Regards,

Paridhi Agarwal

 

[Ronak Gupta]

yes not working mine too

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[Isha Riwal]

Hi, 

If an indian company has made initial subscription of shares of foreign entity then as my understanding FLA filing to be done. 

Please correct me if I am wrong. Further it has to be filed in Excel format however no such file is found at RBI portal.  

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Regards, 

CS Isha J. Riwal

Mem No.: 43918

Contact No.: 7990451383

[CS Mohit Saluja]

Dear Concern,

          Greetings of the Day.. !

It is to be filed in FLAIR Portal of RBI Now ad not via Excel Sheet. That has been withdrawn by the RBI 2 years back, however no filing fees is therefor FLA return

Moreover, yes for initial subscription of FDI, company need to file the FLA return provided the FCGPR had already been filed for the same earlier.

CS Mohit Saluja

CERTIFIED CSR PROFESSIONAL

Mohit Saluja & Associates

Company Secretaries

FCS, LL.B, M.Com, B.Com(Prof.)

338/7, Central Town

Near Swaran Institute

Jalandhar, Punjab-144001 

Tel: +91 9914558709 (M) 
Email: csmohit...@gmail.com | csmohits...@gmail.com

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[Isha Riwal]

Thank you . 

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[aanchal vig]

Hi,

It is still not working.

Thanks

On Fri, Jun 5, 2020 at 4:49 PM Paridhi Agarwal <agarwal...@gmail.com> wrote:

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Thanks
Aanchal Sahni
91-8860412244
Email: cs.aan...@gmail.com

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[Trend Trading]

Procedure for Submission of the FLA Return and
Acknowledgement therefor

Q12. Where can company get revised format of Annual Return on Foreign Liabilities and Assets (FLA Return)?

Ans.: The revised format of FLA is available on RBI’s web site,

http://rbi.org.in/scripts/BS_ViewFemaForms.aspx

(Home >> Forms >> Foreign Exchange Management Act Forms)

Annual return on Foreign Liabilities and Assets

Company can download the updated FLA return every year by end of May. Company should use the updated FLA return only.

Q13. What is the due date of submission of the FLA return?

Ans.: FLA return is mandatory under FEMA 1999 and companies are required to submit the same based on audited/ unaudited account by July 15 every year.

Q14. Where should we submit the FLA return?

Ans.: Filled-in the Excel based FLA return should be sent by email by 15 July. Any other attachment should not be forwarded along with the FLA return.

Q15. Where should we contact regarding any clarification for submission of FLA Return?

Ans.: Any query regarding filling of FLA return should be sent to email. You may also contact RBI person handling FLA return at

(022) 26578662/ 26578217/ 26578348/ 26578214/ 26578340/ 26578241

Q16. From whose mail id the FLA Return should be e-mailed? Whether it is necessary to e-mail the FLA Return from the mail id of the person mentioned in Contact Details?

Ans.: The filled-in Excel based FLA return should be forwarded through the official email id of any authorized person like CFO, Director, Company Secretary etc. Acknowledgement will be forwarded to the both email ids (sender and mentioned in Contact Details).

Q17. Is it required to submit any financial statements like balance sheet or P&L accounts (audited/ unaudited) along with the FLA return?

Ans.: You are required to submit only the filled-in Excel based format of FLA by email before due date. Financial statements or any information in separate annex should not be forwarded along with the FLA return.

Q18. We have already submitted a hard copy of the FLA return with your office. Do we need to submit the FLA return in revised format once again?

Ans.: The Return has to be submitted in the Excel based format, which has inbuilt checks and validations. So if there are any discrepancies in the furnished information, you will be able to know and rectify them at your end before submitting the information to RBI. Further, by submission of the information in Excel based format by email will ensure that you will receive the confirmation email from RBI within a week for successful processing of data submitted by you. In view of this, you are advised to resubmit the information in revised format of FLA return through email.

Q19. As per the circular, excel file of return is required to be mailed. However, there is no column for the signature in the soft form. Should we, therefore, submit the signed hard copy or scanned copy of return to your office later or sending soft copy (validated) only would be sufficient compliance?

Ans.: It is sufficient to submit the validated excel based soft copy of filled-in FLA return through official email id of any authorized person of company like CFO, Director, Company Secretary etc. at email before due date for compliance purpose.

Q20: How would an acknowledgement is provided to us on submission of the form via e-mail?

Ans.: After sending the Excel based FLA return to email, you will receive an acknowledgement. Ensure that you have received a successful processing acknowledgement. If some error is mentioned in the acknowledgement rather than successful processing statement, then you have to resubmit the form by rectifying the mentioned error.

Q21. Can we send the PDF copy of the FLA return as we are facing some technical problem while furnishing the information in excel based format?

Ans.: You need to submit the information in the Excel based format only through email. In case of technical problem, you may forward the filled-in excel based form as it is as draft excel based FLA return to email in for rectifying the problem faced by you.

J. Suthar & Associates

Company Secretaries

Jayant Suthar

M.Com., FCS, ACMA

Cell : +91 8460 890 175

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[pooja Shetty]

Hello,

Do we need to submit the AUTHORITY AND VERIFICATION LETTER every year for filing FLA return.??

Like we had to do last year.

On Mon, Jun 8, 2020 at 10:51 AM aanchal vig <cs.aan...@gmail.com> wrote:

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Thanks & Regards,

CS Pooja Shetty

8879700499

[Paridhi Agarwal]

Hi Pooja,

Registration on FLAIR portal through verification and authority letter is the one time process.

Regards,

Paridhi Agarwal

Co-founder & Partner at Paridhi Agarwal & Associates

Phone: +91-9654627202 

Email: paridhia...@outlook.com

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[pooja Shetty]

Thank you Paridhi. :)

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