As per the requirment of FEMA Act 1999 ,Every Company which has made Overseas Direct Investment abroad or has received Foreign Direct Investment from overseas need to file the FLA annual return .

Companies has to report all the asset and liabilities abroad irrespective of the fact whether thet have made addtiion to the same in the current Financial Year .The outstanding of Foreign Asset and Libilities need to be reported .

The filing of FLA annual return need to be done by 15th of July of respective year .if the company does not have their accounts audited by 15th of July ,data need to be shared from the unaudited financials .In case after audit there are some changes ,then Companies need to file revised return by September of  the respective year .

Penalty of thrice the amount  of sum contravent is leviable in case return is not  filed upto due date .If the  amount is not quantifiable the  the Penalty amount is Rs 2,00,000/-