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Section 2(v) of fema_ pri

420 views 1 replies

hiii.....

as given in sec 2 (v) ..a person resident in india for more than 182 days during the course of the preceding financial year. but does include

(A) a peson who goes out of india or who stays outside india :-

 for employment

for business 

for any other purpose

Doubt:- if a person goes out of india for all these above mention purpose ....and his stay in india during preciding f/y is more than 182 days then he will be considered as person resident in india or not.

what are interpretation of line written in status in sec 2 (v)

Replies (1)

if a person goes out for all the purpose listed in the seciton, he will be considered as person resident outside india from day he leaves india irrespective of his stay in preceeding year exceeding 182 days.

The condition of stay of 182 days doesnt apply to people who leave india for specified purposes.


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