Person resident in india u/s. 2(v) of fema act 1999
This query is : Resolved
12 October 2011
Hello
I have a query in the interpretatation of defination of 'Person Resident in India u/s. 2(v) of FEMA Act 1999.
According to the defination the status of the person is decided as per its stay in india during precceding year. But defination also states that if person who goes out of India for particular 3 puposes are not called residents . Similarly if some peson comes to india for purposes other than specified in defination are also not called resident.
Now my doubt is whether the person the exclusions given in the defination are also to be checked for previous year or these exclusion are to be checked for current year.
I have a query in the interpretatation of defination of 'Person Resident in India u/s. 2(v) of FEMA Act 1999.
According to the defination the status of the person is decided as per its stay in india during precceding year. But defination also states that if person who goes out of India for particular 3 puposes are not called residents . Similarly if some peson comes to india for purposes other than specified in defination are also not called resident.
Now my doubt is whether the person the exclusions given in the defination are also to be checked for previous year or these exclusion are to be checked for current year.
13 October 2011
The exclusions need to be checked only in previous year in case of persons coming to India. VISA granted by indian Authorities shall also play a big role in deciding the purpose of exclusions.
However in case of person going outside India the position in current year needs to be seen.
Anuj
+91-9810106211
femaquery@gmail.com
However in case of person going outside India the position in current year needs to be seen.
Anuj
+91-9810106211
femaquery@gmail.com
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Invertaded duty struture
- CREDIT NOTES WITHOUT GST
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
