Explain the provisions relating to capital account transaction under FEMA, 1999.
Answers
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FEMA: Current and Capital Account Transactions and release of Foreign Exchange
FOREIGN EXCHANGE MANAGEMENT ACT:-
the Finance Act, 2015. A Current Account Transaction has been defined as a Transaction other than Capital Account Transactions, means all transaction which do not alter assets or liability outside India of resident or assets or liability in India of Non Resident treated as Current Account Transactions and without prejudice to the generality of the foregoing such transaction includes.
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Explanation:
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