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A 'current account transaction' under FEMA does NOT include:
Answer & Solution
Correct answer: C.
1. Section 2(j) of FEMA defines current account transactions and excludes capital account transactions (which alter assets/liabilities outside India).
2. (A), (B), (C) are typical current account items.
3. Hence (D).
_Source: ICAI BoS CA Inter Paper 2 — FEMA 1999_