Comment on Account Opening Documentation & Charges
commented on
06 Jul 2014, 02:07 PM
Dear Venu
I haven’t received call/mail from Axis Bank to open PIS account
Nevertheless I am feeling much hindered in the documentation requirement for an NRI to start trading.
What I am hoping is to make my wife open a normal savings bank account in order to proceed with other formalities with Z and ILFS to open demat account on her name
Please confirm to me whether this is acceptable to tax authorities in India, since I am a working non-resident and she being a home maker staying with me as a non-resident in Qatar without any source of income for her, could able to explore this option.
I will transfer for eg., 10-15K INR to her account on monthly basis and that will be invested in equities
Will proceed on this immediately upon your response
Regards
Mohamed