A resident may hold overseas property acquired when he was:
AA government servant
BAn exporter of goods
CResident outside India
DA student in India
Answer & Solution
Correct answer: C. Resident outside India
Section 6(4) lets a person keep assets obtained while non-resident, or inherited from a non-resident.
Keep practising Foreign Exchange Management Act 1999
Browse all Foreign Exchange Management Act 1999 questions for CA Inter, or explore more Law topics.
Related questions
Who may regulate a non-resident's setting up of a branch office in India?FEMA borrows the meaning of chartered accountant from:Contraventions under FEMA are treated as:Under FERA, an accused was presumed:FEMA aims at promoting orderly development and maintenance of the:A company receiving FDI files which annual FEMA return?Which of these falls within the meaning of currency in FEMA?Under FEMA, import means bringing into India: