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of <h1>FEMA 1999: Understanding Capital Account Transactions Under Section 6 and Regulations by RBI and Central Government</h1> The text discusses the provisions of the Foreign Exchange Management Act (FEMA) 1999, focusing on capital account transactions under Section 6. It distinguishes between capital and current account transactions, allowing individuals to engage in capital account transactions involving foreign exchange through authorized entities. However, these transactions are subject to regulations by the Reserve Bank and the Central Government, which can specify permissible classes, limits, and conditions. Non-debt instruments are defined, including investments in equity, limited liability partnerships, and various funds and trusts. The text serves as a reference guide for understanding the legal framework governing these transactions.
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