Querry regarding fema

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...

Please share any other point which you may have noticed with regard to the same topic