Residential status under fema
This query is : Resolved
Naveen Jain
(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?
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.
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
(Querist)
14 January 2016
I was confused as ICAI has given the answer as resident in RTP of May 2015
Ankur Singhal
(Expert)
14 January 2016
Dear
Pls refer the section sometimes the answers in RTP are wrong.
Pls refer the section sometimes the answers in RTP are wrong.
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