Comment on NRI trading on Indian Stock Exchanges

Hi Team,

I am in Singapore since May 2010, and last 3 -4 years I have been trading through different brokers in Indian Equity & FNO too.

I never obtained PIS and other NRI related documents to trade on Indian Exchange.

Now I have a query from Income Tax asking for the details of the transaction since I am NRI i didn’t filed the returns in India.

Can you please give details what would be the consequences for this

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