11 December 2011
If a person has completed 183 days of stay overseas on employment during FY 2011-12 when does he get the NRI Status - on completion of previous year or immediately when he completes 183 days stay. and when can he open an NRI Account
11 December 2011
The status of a person will be determined in respect of each financial year. Thus the status will be acertained after completion of financial year 2011-12.
12 December 2011
The moment the person goes out of India for the purpose of earning SALARY income for a period exceeding 183 days, then the person becomes NON-Resident as per FEMA at the same moment and can convert existing account into NRO account and can also open NRO/FCNR(B) account.
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