Comment on NRI trading on Indian Stock Exchanges
commented on
01 Nov 2016, 08:56 PM
The residential status would be determined as per the FEMA regulations and not as per the Income tax Act. If the person in question is a resident as per FEMA guidelines, then yes, it’s possible to open a Resident Trading & Demat account. There wouldn’t be a need to open the NRI account. In the KYC form you would have to mention as ‘Others’ — France and Residential Status — Resident Indian.