A Non Resident Indian has been defined
as a person resident outside India. Person resident
outside India under FEMA has been defined as a person
who is a non resident India.
Person resident in India :-
1) a person residing in India for more than one hundred
and eighty two days during the course of the preceding
financial year but does not include
A. a person who has gone out of India or
who stays outside India, in either case
a) for or on taking up employment
outside India, or
b) for carrying on outside India
a business or vocation outside India, or
c) for any other purpose, in
such circumstances as would indicate his intention to
stay outside
India for an uncertain period ;
B. a person who has come to or stays in
India, in either case, otherwise-than
a) for or on taking up employment
in India, or
b) for carrying on in India
a business or vocation in India, or
c) for any other purpose, in
such circumstances as would indicate his intention to
stay in India
for an uncertain period;
2) any person or body corporate registered or incorporated
in India,
3) an office, branch or agency in India owned or controlled
by a person resident outside India,
4) an office, branch or agency
outside India owned or controlled by a person resident
in lndia. |