https://www.taxtmi.com/acts?id=1996 Section 3 restricts foreign exchange and foreign security dealings except where permitted under applicable law or by the Reserve Bank. Dealings or transfers to non-authorised persons, payments to persons resident outside India, and receipts on behalf of such persons otherwise than through an authorised person are prohibited. Receipts without corresponding inward remittance are deemed unauthorised. Financial transactions in India connected with acquiring, creating, or transferring rights to acquire overseas assets are also restricted. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 27 Aug 2026 14:55:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=1996 Section 3 restricts foreign exchange and foreign security dealings except where permitted under applicable law or by the Reserve Bank. Dealings or transfers to non-authorised persons, payments to persons resident outside India, and receipts on behalf of such persons otherwise than through an authorised person are prohibited. Receipts without corresponding inward remittance are deemed unauthorised. Financial transactions in India connected with acquiring, creating, or transferring rights to acquire overseas assets are also restricted. Act-Rules FEMA Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=1996