Persons of Indian Origin
PIO for this purpose is defined in Regulation 2 of FEMA Notification ibid as a citizen of any country other than Bangladesh or Pakistan, if
(a) he at any time held Indian passport; or
(b) he or either of his parents or any of his grandparents was a citizen of India by virtue of the Constitution of India or the Citizenship Act, 1955 (57 of 1955); or
(c) the person is a spouse of an Indian citizen or a person referred to in sub-clause (a) or (b).
By
Siddharth Dalmia, B.Tech.(DAIICT)
Blockchain in India
Thing(s) pertaining to ownership, implementation of inheritance, management and virtualization of assets through blockchain technology, which were impossible or infeasible a decade back, have now become feasible. For all practical purposes, we can say blockchain is a...
Benami Transactions in India – Attachment and Confiscation of Property
Despite the fact, the Benami Transactions (Prohibition) Act, 1988 came into force on 19.05.1988 (hereinafter referred as "1988 Act") in India, even at that time the concept of benami transaction was not alien in India. There are plenty of judgments wherein the...
Current account transactions under FEMA
The current account transaction has been defined under Section 2(j) of FEMA which states as under: Current account transaction means a transaction other than a capital account transaction and without prejudice to the generality of the foregoing such transaction...
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