The duration of stay in India determines NRI status during a financial year. This period runs from April 1 to March 31. It also includes the prior four financial years.
An individual is considered an NRI if they have spent less than 182 days in India. This applies to the current financial year. They are also an NRI if they have spent less than 60 days in India. This applies to the prior four financial years. This exception plays a crucial role in determining NRI status.

Different rules and regulations apply to NRIs’ financial affairs, taxation, and investment opportunities in India. Property ownership rules also differ from those for Indian residents.

• NRIs can not hold resident savings accounts or fixed deposits in India. However, they can keep NRE (Non-Resident External) and FCNR (Foreign Currency Non-Resident) accounts.
• NRIs can invest in specific financial instruments and schemes in India, like equities and bonds. 
• NRIs can buy and sell residential properties in India. They can also trade commercial properties. These transactions are subject to specific rules and regulations for OCI cardholders.

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