One significant difference between Income Tax and FEMA laws is that for determining residential status of an individual under Income Tax Act 1961, the purpose of the stay (in India or overseas) is irrelevant; only the period of the stay is relevant while purpose of stay is relevant under provisions of FEMA.
Monnishaa Mahajan, Principal Attorney at Legal Help NRI. Monnishaa has an experience of more than 15 years in assisting and advising NRI's in resolving their disputes in India.