According to RBI “Who is a resident of India” ?

In terms of Section 2(v) of FEMA, 1999, a “person resident in India” means –

1. a person residing in India for more than one hundred and eighty-two days during the course of the preceding financial year but does not include –

(A) a person who has gone out of India or who stays outside India, in either case –

1. 1. for or on taking up employment outside India, or
   2. for carrying on outside India a business or vocation outside India, or
   3. for any other purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period;

(B) a person who has come to or stays in India, in either case, otherwise than –

1. for or on taking up employment in India, or
2. for carrying on in India a business or vocation in India, or
3. for any other purpose, in such circumstances as would indicate his intention to stay in India for an uncertain period;

1. any person or body corporate registered or incorporated in India,
2. an office, branch or agency in India owned or controlled by a person resident outside India,
3. an office, branch or agency outside India owned or controlled by a person resident in India;