Comment on Taxation for Traders - Introduction

Jay commented on 17 Oct 2014, 07:45 PM

I have one query about NRI trading in FNO.

Since 1.5 years I am in abroad and having NRE account in India where I am depositing my salary income and investing it in only NRE FDs.

1. When I was in India, I used to trade in one FNO trading account . Since last 3 months (I am resident of foreign country now with valid work visa), I again started my trading with same online FNO trading account (sitting abroad). I have funded my this FNO account with my ordinary resident account from other Indian bank. Is it ok to trade like this? I am not using my NRE fund for trading.

2. I have a Demat account with the shares purchased 2 years back. What if I sell them and again buy other shares with same amount without transferring new fund in account.?

3. Similarly what should I do with my MF holdings?

Thanks in advance for your guidance.

View the full comment thread »