Comment on Taxation for Traders - Introduction

Hi Nitin,

I am Prasanna. I stay in London and aim to trade Futures contract. I hope you are able to advise with the following queries;

1. How long would it take to get an account set up for an NRI at Zerodha. Please note I do not have Non Repatriable PIS Account yet. More than happy to open an account with whom Zerodha is linkedup.

2. I understand I will have to open Non Repatriable PIS Account. Do I have to file my tax if I earn any amount from my F&O Trades in India?

3. I understand I cannot do intraday trading but I can do F&O. As an NRI can i buy and sell futures contract on the same day?

4. My brother stays in India – Can I transfer 2 lacs to him to enable him to trade?. i.e. he opens an account with Zerodha and trades F&O. Please note; my brother has no earnings so his source of income to trade F&O will be funds transferred by me.

Many Thanks

Prasanna

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