Poonawalla fincorps
Poonawalla fincorps

FEMA

This query is : Resolved 
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(Querist)
07 May 2011 Hi!

If a person is leaving India for employment then he will be person residing outside India as per FEMA.

Now, he will be in receipt of rent from property in India. So whether he will be required to convert his account in India to NRO Account.
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CA. Anuj Gupta

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CA. Anuj Gupta (Expert)
08 May 2011 Yes the person shall become NON-resident under FEMA and shall be required to convert his account to NRO.

Anuj
0-9810106211

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