Question

under the foreign exchange management act 1990 which of the following is considered as person.
ans

1 . an individual

2. a company

3 . a firm

4 . all of above​

Answer 1

Answer:

a options is the answer of this question

Explanation:

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Answer 2

Answer:

a an individual

Explanation:

a an individual is the answer

The Foreign Exchange Management Act, 1999 (FEMA) is an Act of the Parliament of India "to consolidate and amend the law relating to foreign exchange with the objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India".[1] It was passed in the winter session of Parliament in 1999, replacing the Foreign Exchange Regulation Act (FERA). This act makes offences related to foreign exchange civil offenses. It extends to the whole of India.,[2] replacing FERA, which had become incompatible with the pro-liberalisation policies of the Government of India. It enabled a new foreign exchange management regime consistent with the emerging framework of the World Trade Organisation (WTO). It also paved the way for the introduction of the Prevention of Money Laundering Act, 2002, which came into effect from 1 July 2005

Advantages of foreign exchange management act:                                         # Flexibility in trading .                                                                                           # Individuals control.                                                                                             # Transparency in information provided.                                                               # No involvement of central exchange.                                                                 # Profitable gain.