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of <h1>Definition of 'Resident in India' under Section 2(v) of FEMA 1999 explained with conditions and exceptions.</h1> A person resident in India, as per Section 2(v) of the Foreign Exchange Management Act, 1999 (FEMA), is someone residing in India for over 182 days during the previous financial year, excluding those who have left or stay outside India for employment, business, or other purposes indicating an indefinite stay abroad. It also includes individuals or entities registered or incorporated in India, as well as offices, branches, or agencies in India controlled by persons outside India, and those outside India controlled by persons resident in India.
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