{"id":66079,"date":"2024-09-12T10:27:54","date_gmt":"2024-09-12T04:57:54","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=66079"},"modified":"2024-09-12T10:27:56","modified_gmt":"2024-09-12T04:57:56","slug":"register-on-flair-portal-for-fla-return-filing","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/register-on-flair-portal-for-fla-return-filing\/","title":{"rendered":"Registration with the FLAIR Portal for Filing of FLA Return"},"content":{"rendered":"\n

The Foreign Liabilities and Assets Information Reporting (FLAIR) system is an online platform developed by the RBI for reporting on the foreign liabilities and assets of Indian entities. All entities in India that have recorded foreign direct investment in the company books or have made overseas investments in the previous financial year shall necessarily file an annual return in FLA. This, therefore, forms a necessary statutory compliance under the Foreign Exchange Management Act of 1999.<\/p>\n\n\n\n

The FLA return provides the RBI with basic information on India’s position regarding foreign liabilities and assets, which is crucial for judging the country’s balance of payments. The RBI introduced the FLAIR portal in 2019, which has made filing the FLA return smoother. This web-based portal will facilitate easy filing of returns, reduce errors, and bring more transparency into the process.<\/p>\n\n\n\n

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