NRI-OCI-PIO MEANING & RESIDENTIAL STATUS UNDER FEMA 1999

Posted: 23 Jan 2011 03:36 AM PST

Basic conceptsThe governing law for exchange control in India is the Foreign Exchange Management Act (FEMA), 1999. 1. Who is an NRI?Under FEMA, an NRI is a person: Who is an Indian Citizen Has gone out of India or stays outside India, in either case for or on taking up employment outside India for carrying on a business or vocation outside India, or for any other purpose, in such...

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