UGC NET
   Top Resources
Gunjan posted an Question
March 14, 2021 • 16:58 pm 30 points
  • UGC NET
  • Commerce

Capital account transaction a transaction which alerts the assets and liabilities including contingent liabilities outside india of person restdent t india or a

Capital Account Transaction A transaction which alerts the assets and liabilities including contingent liabilities outside India of person restdent t India or assets or liabilities in lndia of person resident Outside India would be Capital Account transaction5. The Reserve Bank of India may be place restrictions on various specified transactions deemed to be considered as capital in Nature. Current Account Transaction Current Account means a transaction other than capital account transaction. In other word the current account basically relating profit and Loss Account is called current account transactions. Ie 7665435300

1 Answer(s) Answer Now
  • 0 Likes
  • 2 Comments
  • 0 Shares
  • Rucha rajesh shingvekar

    Capital account and current account transactions constitute the fundamental concept of FEMA. Every transaction involving a non-resident and resident can be classified either as a capital account or a current account transaction

  • comment-profile-img>
    Ronak kumari upadhyay best-answer

    Dear student A contingent liability is a liability or a potential loss that may occur in the future depending on the outcome of a specific event. ... Potential lawsuits, product warranties, and pending investigation are some examples of contingent liability. I hope this is what you wanted to know.

whatsapp-btn

Do You Want Better RANK in Your Exam?

Start Your Preparations with Eduncle’s FREE Study Material

  • Updated Syllabus, Paper Pattern & Full Exam Details
  • Sample Theory of Most Important Topic
  • Model Test Paper with Detailed Solutions
  • Last 5 Years Question Papers & Answers

Sign Up to Download FREE Study Material Worth Rs. 500/-