Regulation 3 - Permissible Capital Account Transactions - FOREIGN EXCHANGE MANAGEMENT (PERMISSIBLE CAPITAL ACCOUNT TRANSACTIONS) REGULATIONS, 2000

3. Permissible Capital Account Transactions :- (1) Capital account transactions of a person may be classified under the following heads, namely :- (A) transactions, specified in Schedule I, of a person resident In India; (B) transactions, specified in Schedule II, of a person resident outside India. (2) Subject to the provisions of the Act or the rules or regulations or direction or orders made or issued thereunder, any person may sell or draw foreign exchange to or from an authorised person for a capital account transaction specified in the Schedules; Provided that the transaction is within the limit , if any, specified in the regulations relevant to the transaction.