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TMI BlogCapital account transactionsX X X X Extracts X X X X X X X X Extracts X X X X ..... nment, specify- 1 [(a) any class or classes of capital account transactions, involving debt instruments, which are permissible;] (b) the limit up to which foreign exchange shall be admissible for such transaction: 2 [(c) any conditions which may be placed on such transactions;] 3 [Provided that the Reserve Bank or the Central Government shall not impose any restrictions on the drawal of foreign ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s resident outside India. (5) A person resident outside India may hold, own, transfer or invest 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) Without prejudice to the provisions of this section, the Rese ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... all 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 in the ordinary course of business. 4. Inserted vide THE FINANCE ACT, 2015 w.e.f. 15-10-2019 5. Omitted vide THE FINANCE ACT, 2015 w.e.f. 15-10-2019 , before it was read as, (3) Without prejudice to the generality of the provisions of sub-s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... property outside India, other than a lease not exceeding five years, by a person resident in India; (i) acquisition or transfer of immovable property in India, other than a lease not exceeding five years, by a person resident outside India; (j) giving of a guarantee or surety in respect of any debt, obligation or other liability incurred- (i) by a person resident in India and owed to a person res ..... X X X X Extracts X X X X X X X X Extracts X X X X
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