ICAI Releases New Handbook on NRI Residential Status, Tax and FEMA Rules:

The Institute of Chartered Accountants of India (ICAI) has recently issued a new handbook on Residential Status for NRIs – Tax and FEMA Aspects. The handbook aims to provide a simple and practical guide on how the residential status of non-resident Indians (NRIs) is determined under tax and foreign exchange laws.

The handbook mainly explains the rules for determining residential status under the Income-tax Act, 2025, and FEMA. It focuses only on individuals and does not cover the residential status of companies, firms or other entities.

The handbook has 10 chapters, covering topics such as an overview of residential status, residency rules for individuals, and a comparison between the Income-tax Act, 1961 and the Income-tax Act, 2025, among other related aspects.

ICAI said the handbook is intended to be a useful reference for its members, tax and legal professionals, corporates, expatriates and NRIs. It is designed to help readers better understand the rules and practical issues related to residential status while supporting ICAI’s focus on knowledge sharing and professional excellence.