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Capital account transactions

Section 6 - Acts - FEMA - Section 6 - . 6. (1) Subject to the provisions of sub-section (2), any person may sell or draw foreign exchange to or from an authorised person for a capital account transaction. (2) The Reserve Bank may, in consultation wit .....

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ch transactions;] 3[Provided that the Reserve Bank or the Central Government shall not impose any restrictions on the drawal of foreign exchange for payment due on account of amortisation of loans or for depreciation of direct investments in the ordi .....

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missible for such transactions; and (c) any conditions which may be placed on such transactions.] 5[***] (4) A person resident in India may hold, own, transfer or invest in foreign currency, foreign security or any immovable property situated outside .....

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st in Indian currency, security or any immovable property situated in India if such currency, security or property was acquired, held or owned by such person when he was resident in India or inherited from a person who was resident in India. (6) With .....

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ty relating to such branch, office or other place of business. 6[(7) For the purposes of this section, the term debt instruments shall mean, such instruments as may be determined by the Central Government in consultation with the Reserve Bank.] - Not .....

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, 2015 w.e.f. 14th May 2015, before it was read as, "Provided that the Reserve Bank shall not impose any restriction on the drawal of foreign exchange for payments due on account of amortization of loans or for depreciation of direct investments .....

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of sub-section (2), the Reserve Bank may, by regulations, prohibit, restrict or regulate the following- (a) transfer or issue of any foreign security by a person resident in India; (b) transfer or issue of any security by a person resident outside I .....

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