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Who is considered a 'Resident' under FEMA?
  • a)
    Any Indian citizen
  • b)
    Any person who has been residing in India for more than 182 days
  • c)
    Any person who holds a valid Indian passport
  • d)
    Any person who is a taxpayer in India
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Who is considered a 'Resident' under FEMA?a)Any Indian citizenb)Any pe...
As per FEMA, a person is considered a 'Resident' if they have been residing in India for more than 182 days. This residency status determines the applicability of FEMA for any foreign exchange transactions carried out by the individual. It is not based on citizenship but on the duration of stay in India.
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Who is considered a 'Resident' under FEMA?a)Any Indian citizenb)Any person who has been residing in India for more than 182 daysc)Any person who holds a valid Indian passportd)Any person who is a taxpayer in IndiaCorrect answer is option 'B'. Can you explain this answer?
Question Description
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