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HUMAN RESOURCES MANAGER ABOUT THE FLA TheFairLaborAssociation(FLA)combinestheeffortsofindustry, civilsocietyorganizations, and colleges anduniversitiestoprotectworkersrightsandimproveworkingconditionsworldwidebypromoting adherencetointernationallaborstandards.
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The Form FLA, or Foreign Liabilities and Assets return, is a form that needs to be filed by residents who have financial interest in any entity located outside India.
Any resident individual, company, partnership firm, Limited Liability Partnership, or any other entity who has financial interest in any entity located outside India is required to file Form FLA.
Form FLA can be filled out online on the website of the Reserve Bank of India. The form requires details of foreign assets and liabilities as at the end of the reporting year.
The purpose of Form FLA is to collect information on foreign assets and liabilities of residents to compile the country's balance of payments statistics.
Information such as foreign currency deposits, investments in foreign companies, immovable properties outside India, loans given or taken from non-residents, etc. must be reported on Form FLA.
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