dera sir iam an nri and from oast 5 years trading . i am having resident demat account and paying tax on capital gain .is it legal ti have a resident demat account by an nri
RE:RE:nri having resident demat account
by ganapathy subramanian on Apr 28, 2007 08:10 AM Permalink
hello, As per RBI regulations a NRI cannot have resident trading account. It is against law. I do understand that the Depository is also not allowed to permit an NRI to have a Demat account in Resident status. NRI should be permitetd to make the payments for purchase of shares only from NRO account.
