Mr A resident of USA controls a business in india. What will be the residential status of Mr A under FEMA
Naveen Jain (Article Trainee) (134 Points)
14 January 2016Mr A resident of USA controls a business in india. What will be the residential status of Mr A under FEMA
Rahul Sharma
(Self employed)
(183 Points)
Replied 14 January 2016
Rahul Sharma
(Self employed)
(183 Points)
Replied 14 January 2016
Naveen Jain
(Article Trainee)
(134 Points)
Replied 14 January 2016
yes even i think that but ICAI has given the answer as he is resident.
Refer https://resource.cdn.icai.org/36763rtpfinalmay2015-4.pdf
Q 21 and its solution. Please let me know your views whether the answer given by ICAI is correct or not
CA Prateek Garg
(CA in Practice)
(1447 Points)
Replied 24 January 2016
In my opinion question is asking about the residential status of office controled by Mr. Maurya. Residential status of Mr Maurya is being specified by the question itself as 'Resident outside India'.
And Residential status of Office in India shall be 'Resident in India'
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