Comment on NRI trading on Indian Stock Exchanges

tabz commented on 22 Nov 2015, 07:45 PM

Hi Guys,

I have been lurking around your website for a few months now, and am completely awestruck by the breadth and depth of your collective knowledge and dedication. I sincerely believe that Zerodha can and will have the same effect on the Indian economy, as the invention of the wheel had on humanity itself. Amazing job guys, just mindblowing!!!

I myself, however am forced to sit on the sidelines and just hungrily gaze on this revolution, just because I am an NRI ((NON RELIABLE INDIAN)) as per the government’s outlook, therefore I need to park 25 lac rupees before I can even think about entering the market.,,,,,,,,,,,,grrrrrrrrrrrrrrrrr

anyhows, going through this page gave me an idea, what if I were to gift/donate/lend/shove-down-their-throat to someone in India, and then let them do the trading, will that person have any kind of tax implications for receiving 1 lac+ rupees every month from overseas?

If the answer to the above question is yes, then all my dreams are shattered and thus I will drown all my sorrows in the bottle for the rest of eternity

If the answer to the above question is no, then please expect someone at your doorsteps first thing tomorrow morning, who will be signing up to trade

help me out guys, this bureaucratic mumbo jumbo is a pain in the wrong place.

Your friendly neighborhood NRI (Non Reliable Indian)

PS: how do you guys even get the time to answer sooooo many questions?? are you sure that you have only 2 hands and not anymore, just curious.

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