Read FEMA regulations and rules and notifications and circulars available on RBI website first. Thats your key. Many CAs / CSs have videos on youtube teaching FEMA. You can find lot of such reading material on websites of such CAs. Read anything available online and look for the relevant regs and cross link it and understand. This way you'll know what you read is actually the law.
Reading of commentaries on FEMA will also help. It's an ocean so be ready for a long journey.
Remember one key thing
Current A/c Transaction - everything is allowed unless specifically prohibited
Capital A/c Transaction - everything is prohibited unless specifically allowed.
My recent internships have involved FEMA work, leaving me wanting to grasp a better FEMA foundational knowledge and not mere specific knowledge for the few particular research tasks I did.
Reading of commentaries on FEMA will also help. It's an ocean so be ready for a long journey.
Remember one key thing
Current A/c Transaction - everything is allowed unless specifically prohibited
Capital A/c Transaction - everything is prohibited unless specifically allowed.
My recent internships have involved FEMA work, leaving me wanting to grasp a better FEMA foundational knowledge and not mere specific knowledge for the few particular research tasks I did.
Any help would be much appreciated!