Residential status under fema

Others 377 views 6 replies

Mr A resident of USA  controls a business in india. What will be the residential status of Mr A under FEMA

Replies (6)
As Mr.A is individual so If Mr. A prsent in india at least 181 days in previous year then his current year status shall be resident as per FEMA

Wrong answer

Mr. A is not resident as per FEMA.

yes even i think that but ICAI has given the answer as he is resident.

Refer https://resource.cdn.icai.org/36763rtpfinalmay2015-4.pdf

Q 21 and its solution. Please let me know your views whether the answer given by ICAI is correct or not

Definatly some typing error.

In my opinion question is asking about the residential status of office controled by Mr. Maurya. Residential status of Mr Maurya is being specified by the question itself as 'Resident outside India'. 

 

And Residential status of Office in India shall be 'Resident in India'


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register