Investing for NRIs

There are three categories of residents in India under the Income-tax Act - resident, resident but not ordinarily resident and non-resident depending on the number of days spent in India.¹ A similar but not identical definition is laid down in the Foreign Exchange Management Act (FEMA). Special rules on bank accounts, investments and taxation have been laid down for non-resident Indians.

This article was originally published on July 13, 2022.