Why rbi have been treated a person going to abroad for studies and he will be treated as non resident And same he will be treated as resident in FEMA

Question

Harthik · Answer

RBI norms are specific in nature so stick on to RBI bro

Xyz · Answer

Person going abroad for studies is treated as resident in India as he might neither go abroad for an indefinite time nor is he going abroad for business, employment, or vocation. But as per RBI circular, the student going abroad may start working to take care of the costs of studies and stay in abroad.

Akshit · Answer

According to FEMA if a person goes abroad for studies or employment then he will be treated as non resident

Arsalion · Answer

Logic iska mostly ye hai ki ye assume hai Jo studies karne jaate hai woh job bhi karte hain lislye going abroad for employment purpose waale point me cover hojane ki wajah se

Amit · Answer

The treatment of individuals going abroad for studies under the Reserve Bank of India (RBI) guidelines and the Foreign Exchange Management Act (FEMA) may appear contradictory, but it is based on different criteria for defining residency status. When a student goes abroad for studies, the RBI treats the student as an NRI because their center of economic interest shifts outside India. However, under FEMA, if the student has been in India for more than 182 days in the preceding financial year before departure, they may still be considered a resident for that year until the next evaluation period.

Soheb · Answer

Ok 8 kk ok ok ok k kk o

Komal · Answer

It's not the same in both it is treated as non resident, in fema it is treated as a person resident outside India which means non resident

Why rbi have been treated a person going to abroad for studies and he will be treated as non resident And same he will be treated as resident in FEMA

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