Who is a person resident outside India?
• Under the Foreign Exchange Management Act,1999 (FEMA), a person who is NOT a person resident in India as defined under Section 2 (v) of the Act is considered a person resident outside India. The most important change in definition (since FERA 1973) is that the citizenship of a person no longer has a bearing in determination of residential status.
Under the Foreign Exchange Management Act, 1999 [FEMA], a person who is NOT a ‘person resident in India’, as defined under Section 2 (v) of the Act is considered as a ‘person resident outside India’. The most important change in definition [since FERA 1973] is that the citizenship of a person no longer has a bearing in determination of residential status.
Under the Foreign Exchange Management Act,1999 (FEMA), a person who is NOT a ‘person resident in India’ as defined under Section 2 (v) of the Act is considered a person resident outside India’. The most important change in definition (since FERA 1973) is that the citizenship of a person no longer has a bearing in determination of residential status.
Related Questions
- What are the documents that are required to be furnished by a person resident outside India for remitting the profit or surplus outside India?
- Can a person resident outside India hold any immovable property in India acquired by way of inheritance from a person resident in India?
- How much foreign exchange can other residents send as gifit I donation to a person resident outside India?
