FEMA & FDI · Panaji, Goa
Timely FLA return filing in Goa — the annual Foreign Liabilities and Assets return every company or LLP with inbound or outbound foreign investment must file with the RBI by 15 July, prepared from your year-end position and submitted on the FLAIR portal.
Overview
Every company, LLP or other entity that has received foreign direct investment or made overseas investment in any year, and still has such liabilities or assets outstanding, must file the annual Foreign Liabilities and Assets (FLA) return with the Reserve Bank of India.
The return reports the entity’s foreign liabilities and assets as on 31 March and is due by 15 July each year on the RBI’s FLAIR portal. We assess whether you are covered, register you on FLAIR, compile the figures — even on a provisional basis where the audit is pending — and file on time. It complements your FDI reporting.
What's covered
From applicability to a filed FLAIR return.
Get a fixed-fee quote →Confirming whether your FDI or overseas investment makes FLA due.
Registering the entity and users on the RBI FLAIR portal.
Capturing foreign liabilities and assets as on 31 March.
Filing on unaudited figures and revising once accounts are final.
Filing before the 15 July due date to avoid default.
Covering inbound investment and any overseas direct investment.
Our process
We check if your foreign investment makes FLA applicable.
Entity and user registration on the RBI portal.
Foreign liabilities and assets as on 31 March.
Return submitted and acknowledgement shared.
Frequently asked questions
The Foreign Liabilities and Assets return is an annual return to the Reserve Bank of India under FEMA. It captures an entity's foreign liabilities and foreign assets, such as inbound foreign investment received and overseas investment made, as on 31 March of each year.
Any company, limited liability partnership or other entity that has received foreign direct investment or made overseas direct investment, and has such balances outstanding at the year-end, must file the FLA return. It applies even if there was no fresh transaction during the year.
The FLA return is due by 15 July each year and reports the position as on the preceding 31 March. Filing the return on time each year is a recurring FEMA compliance for entities with foreign investment.
FLAIR is the Reserve Bank of India's Foreign Liabilities and Assets Information Reporting system. Entities register on the FLAIR portal and submit the FLA return online through it each year.
If the audited accounts are not ready by the due date, the FLA return can be filed using provisional or unaudited figures and then revised once the audited accounts are finalised. This allows the entity to meet the July deadline.
Non-filing or delayed filing of the FLA return is a contravention of FEMA and can attract regulatory action, including the need to compound the contravention. Filing on time each year keeps the entity compliant.
Yes. A limited liability partnership that has received foreign capital contribution or made overseas investment is required to file the FLA return, in the same way as a company with foreign liabilities or assets.
Related services
Book a free consultation with a qualified Chartered Accountant in Goa. We'll register you on FLAIR, compile your figures and file the FLA return before the deadline — no obligation.