What is Capital Account Transaction (CS Executive)
According to Section 2 (e) of the foreign Exchange Management Act, 1999 ‘capital account transaction’ means any transaction which alters the assets or liabilities including contingent liabilities outside india of persons resident in india and includes the transactions specified in Section 6 (3) of the FEMA,
- Investments in foreign securities.
- Loans raised in the country in foreign security.
- Transfer of immovable asset outside india.
- Remittance of Capital assets outside india.
- Export or Import of currency notes.
- Sales or purchase of foreign exchange derivatives in or outside India and commodity derivatives outside.
- Loans and overdrafts by person resident in india to person resident outside india.
- Loans and overdrafts by person resident in india from person resident outside india.