Question
Explain the meaning of Capital Account Transactions under the Foreign Exchange Management Act, 1999. State its categories and also examine whether the following transactions are
Explain the meaning of “Capital Account Transactions” under the Foreign Exchange Management Act, 1999. State its categories and also examine whether the following transactions are permissible or not under the above Act as Capital Account transactions:
a)Investment by a person resident in India in Foreign Securities.
b)Foreign currency loans raised in India and abroad by a person resident in India.
c)Export, import, and holding of currency/currency notes.
d)Investment in a Nidhi Company.
e)Trading in transferable development rights
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
