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An NRI can operate either on NRE (Repatriable) or NRO (Non Repatriable) or on both NRE & NRO status. He should open an NRE/NRO –PIS A/c (portfolio investment scheme A/c) with the same branch of the bank. |
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He should apply for an RBI approval to invest in Indian Stock market through his designated bank branch. |
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NRI can have only one PIS A/c at a time with any bank in India. |
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Short term capital gain Tax if any will be deducted @ 17% by the bank. |
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Long term capital gain tax is abolished. (Investment over 1 year) |
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All the primary market transactions are routed through a normal NRE/NRO – savings A/c. |
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NRI cannot do day trading & short selling. |
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Only delivery based transactions are allowed. |
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NRI can trade in equity derivatives but on NRO basis only. |
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NRI cannot trade in Commodity & Currency derivatives |
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Funds can be remitted from an FCNR or NRE A/c. |