In this article, we find who is Person of Indian Origin (PIO), and different perspective of what a PIO in India when a PIO start doing any financial dealings in terms of rights, special considerations, restrictions and opportunities. First of all we look into the definition of Person of Indian Origin or PIO.
Non-Resident Indian (NRI) is a person resident outside India who is a citizen of India with any one of the criteria applicable to:
- For taking up employment outside India.
- For carrying on outside India a business or vocation outside India.
- For any purpose, in such circumstances as would indicate his intention to stay outside India for an uncertain period.
For income tax purpose, a non-resident is a person who has been living out of India for more than 182 days in the preceding financial year.