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Explain person amd authorised person under fema

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Uma asked about 3 years ago

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered almost 3 years ago

(i) an authorised dealer, (ii) money changer; (iii) offshore banking unit or (iv )any other person for the time being authorized to deal in foreign exchange or foreign securities.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered almost 3 years ago

(i) an individual, (ii) a Hindu Undivided Family, (iii) a Company, (iv) a Firm, (v) an association of persons or body of individuals whether incorporated or not; and (vi) every artificial juridical person not falling within the above sub clause

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered about 3 years ago

**PERSON AND AUTHORISED PERSON UNDER FEMA** Section 2(u) of FEMA, defines the term 'Person' to include (i) an individual, (ii) a Hindu Undivided Family, (iii) a Company, (iv) a Firm, (v) an association of persons or body of individuals whether incorporated or not; and (vi) every artificial juridical person not falling within the above sub clause (vii) any agency, office or branch owned or controlled by such person; Authorised Person (1) The term authorized person is defined in Section 2(c) of FEMA to include (i) an authorised dealer, (ii) money changer; (iii) offshore banking unit or (iv )any other person for the time being authorized to deal in foreign exchange or foreign securities. Thanks

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