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We have revamped and provided more information for investor. If you feel we need to add some additional information please let us know. State Industries Promotion Corporation of Tamil Nadu (SIPCOT) Limited, a fully government owned premier institution, established in the year 1972, has been a catalyst in development of small, medium and large scale industries in Tamil Nadu.

NRIs - Definition
  NRIs Definition under FERA
 
NRI refers to Indian citizens who stay abroad for employment, business, and vacation or under circumstances indicating his/ her intention for an uncertain period. This includes
 
Indian citizens if deputed abroad by public sector undertaking, UN etc.
 
Officials of center and state government on deputation abroad.
 
For the purpose of opening and maintaining of bank account and disinvestment in shares/ securities in India, a foreign citizen (other than a citizen of Pakistan or Bangladesh) is deemed to be of Indian origin if,
 
He/ she at any time in India held a passport.
 
He or either of his parents/ grandparents was citizen of India.
 
The spouse (not being a citizen of Pakistan or Bangladesh) of a person of Indian origin, for the purpose.
  NRI under IT Act
 
The total stay of a person in India determines the status of a NRI under IT act. Accordingly his total stay has to be planned and the stay should not exceed the limits specified below.
Condition
Max permitted period in India during Apr1-Mar31
1. General Rule (days in the previous year)
60 Days
2. If a person has not stayed beyond 365 days in the preceding four years
182 days
3. During a year for employment purpose abroad, only for Indian citizens.
182 days
4. If on an Indian ship as per the merchant shipping act, only for Indian citizen.
182 days
5. Visits to India for Indian citizens and persons of Indian origin.
182 days
  Other persons - Residential status
 
A person is treated resident in India if the control and management of the affairs are not done wholly outside India.
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Industrial Complexes
To ensure a good impact with the available limited resources, SIPCOT has created Industrial Complexes and Parks, strategically located in seventeen places, which occupy a place of pride in the State's industrial map.
 
 
 
 

 
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