Practices in NRI Int.Tax FEMA TP FD
7024 Points
Joined May 2007
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Originally posted by : V.D.D |
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Please any one tell me What is the procedure for conversion of Residential individual to Non-Resident under the Income Tax Act.?
and What is Related Tax consequenses? |
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There is no procedure specified as such.
The moment a person goes out of India for 182 days then he becomes non resident.
Simillarly under FEMA if the person goes out of India for taking up employment, doing business outside India or for for a purpose under which his intention is to stay outside Idia for indefinite period., then he becomes Non-Resident as per FEMA from the day he goes out of India.
Anuj
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