Can anyone explain me how to determine weather a person is resident or not in simple language.i am getting confused in the language of law.i am not able to understand this secttion properly.thanks in advance
gaurang (student ca) (46 Points)
22 February 2010Can anyone explain me how to determine weather a person is resident or not in simple language.i am getting confused in the language of law.i am not able to understand this secttion properly.thanks in advance
CA Nilesh Sodhani
(CA)
(411 Points)
Replied 23 February 2010
Gaurang,
There are as such 4 different sub clauses under the Definition of Person Resident in India (Normally, we say Resident)
(i) Person residing for >182 days ( Please note it's not >= 182 Days as in Income Tax Act)
Excluding
(1) those going out for:
(a) Employment,
(b) Business / Vocation or
(c) for residing for uncertain period
(2) those coming to India otherwise than for
(a) Employment
(b) Business / Vocation or
(c) for residing for uncertain period
(ii) Body corporate regd / incorporated in India
(iii) Branch / agency in India which is owned / controlled by Non- Resident
(iv) Branch / agency outside India which is owned / controlled by Resident
Make a point very clear that Citizenship is not relevant for determining status of a person under FEMA ( It was there in FERA)
Here Person includes:
Individual, HUF, Company, Firm, AOP, BOI, Artificial Judicial Person, Branch / Office / Agency etc...
CA Nilesh Sodhani
(CA)
(411 Points)
Replied 23 February 2010
Please share any other point which you may have noticed with regard to the same topic
CAclubindia
