NRIs are allowed to invest in India as per the rules and regulations of Foreign Exchange Management Act, 1999. While taxation on the earnings from the Investments is taxed as per the provisions of The Income Tax Act, 1961.
According to FEMA 1999, A person is considered as resident outside India:
If he or she stays outside India for a period of more than 182 days in the preceding financial year or
A person who has gone outside India:
(a) For or on taking up employment outside India, or
(b) For carrying on a business or vocation outside India, or
(c) For any other purpose, in such circumstances as would indicate his/her intention to stay outside India for an uncertain period.
As an NRI (Non-Resident Indian), you are allowed to invest in mutual funds in India subject to certain rules and regulations. Here are some of the key rules and regulations that you should be aware of:
