Foreign exchange definitions distinguish capital and current transactions, residency, repatriation, and regulated dealings under the statutory framework. Capital account transactions alter cross-border assets or liabilities, including contingent liabilities, whereas current account transactions include ... Summary
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Foreign exchange definitions distinguish capital and current transactions, residency, repatriation, and regulated dealings under the statutory framework.
Capital account transactions alter cross-border assets or liabilities, including contingent liabilities, whereas current account transactions include ordinary business, trade, service, interest, investment-income and specified family-expense payments. Residence depends on physical presence in India, subject to employment, business and intention-based exclusions, and extends to specified entities and offices. Foreign exchange includes foreign currency, balances and specified instruments. Repatriation requires bringing realised foreign exchange into India through authorised sale, notified account retention, or discharge of a foreign-currency debt or liability.
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