IPO Frequently Asked Question(s) provide answers to commonly asked questions about IPO's in Indian Stock Market. This IPO FAQ Category helps IPO investors for their better understanding of IPO's and to resolve their quires.
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1. What is NRI (non-resident) status? Who is an NRI in India?
A person is a resident Indian as per Indian tax laws if:
"If he stays in India for more than 182 days in a financial year
If he stays in India for more than 60 days in a particular financial year and more than 365 days in the 4 years preceding that financial year."
If the person does not satisfy either of these 2 conditions, he is considered a non resident Indian - NRI.