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Who is a ‘person of Indian origin’?

April 26, 2017indian

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Who is a ‘person of Indian origin’?

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‘Person of Indian Origin’ (PIO) means a citizen of any country other than Bangladesh or Pakistan, if a.He at any time held Indian passport; or b.He or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955; or c.The person is a spouse of an Indian citizen or a person referred to in sub-clause [a] or [b]. Investment by PIO in Indian Securities is treated the same as the investment by non-resident Indians and requires same approvals and enjoys the same exemptions.