1

Mr. Ram had resided in India during Financial Year 2017-2018 for less than 183 days. He again came to India on 1st May, 2018 for higher studies & business & stayed up to 15th July, 2019. State correct answer as to residential status of Mr. Ram in light of given fact as per FEMA, 1999. (1) Mr. Ram can be considered as ‘Person resident in India’ during financial year 2018-2019 (2) Mr. Ram cannot be considered as ‘Person resident in India’ during financial year 2018-2019 (3) Mr. Ram can be considered as ‘Person resident in India’ in financial year 2019-2020

  • A

    Both the statement (1) & (3) are correct

  • B

    Both the statement (2) & (3) are correct

  • C

    Only statement (1) is correct

  • D

    Only statement (2) is correct.