Preamble, Extent, Commencement
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Definitions
1. Authorized person
2. Capital a/c transaction
3. Currency
4. Currency notes
5. Current a/c transaction
6. Export
7. Foreign currency
8. Foreign exchange
9. Foreign security
10. Import
11. Person
12. Person resident in india
13. Person resident outside india
14. Transfer
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Residential status under FEMA, 1999
182 DAYS
3 PURPOSE
1. For or on taking up employment
2. For carrying on a business / vacation
3. For any other purpose in such circumstances as would indicate stay for an uncertain period
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Regulation & Management of foreign exchange
Current a/c transactions
Schedule I - transactions for which drawal of foreign exchange is prohibited
Schedule II - transactions which require prior approval of the govt. Of India for drawal of foreign exchange
Schedule III - transactions which require RBI's prior approval for drawal of foreign exchange
Capital a/c permissible transactions
Schedule I - The list of permissible transactions made by persons resident in India
Schedule II - The list of permissible transactions made by persons resident outside India
