Who is a person resident outside India?

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A person resident outside India commonly referred to as an NRI is any person who stays out of India for an uncertain period for employment, to carry on a business, vocation, or any other purpose.

An NRI is defined by FEMA as well as Income-Tax Act. Both definitions differ a bit as the intent for both of them is different. The FEMA governs the investment criteria for NRI whereas the Income -Tax Act decides the taxation of various income of NRI and thus looks at it more mathematically. Click here for more details.


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