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Residential status under fema

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(Querist)
14 January 2016 Mr A, a resident of USA, controls a company in India. What will be the residential status of Mr A under FEMA?
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Ankur Singhal

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Ankur Singhal (Expert)
14 January 2016 Dear
To determine the residential status of an individual refer the provisions of fema.
And in this case the residential status of Mr.A would be of NRI. The control on a company in India would not make any difference.
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Naveen Jain

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Naveen Jain (Querist)
14 January 2016 I was confused as ICAI has given the answer as resident in RTP of May 2015



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Ankur Singhal

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Ankur Singhal (Expert)
14 January 2016 Dear
Pls refer the section sometimes the answers in RTP are wrong.

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