Yes, swing trading only, although I am not sure if I have ever tried day trading in my accounts. I have never had the need even with profits etc since I usually use SnR (TA) to do my trades using Daily Charts, and hence I need a few days before I would sell. The shortest trade I have done is probably 2 weeks, and with the recent volatility I might be doing a few even shorter as the bull gets long in the tooth.
Costs is something you have to control and negotiate based on the amount you trade. I will never move to Zerodha or other lower frills accounts since I like the premier account, better support, good RMs and also my rates are pretty low compared to my profits. I just feel that taxes and brokerage are good things generally (if you pay) since that means I am making money.
this is icici brokerage charges…Just wondering, is there any way to lower it down? Not sure if they charge any thing else for NRE PMS account. it would be nice if someone can share who uses icicidemat from USA from repatriable basis
Regards,
Milind
I have just gone through all thread but still has more things to know
We can open demat account with NRO account without PIS account
say if i transfer fund from usa to NRE, NRE to NRO and then invest in india equity
i pay taxes in india on any gained happened on this
can we bring this money back to usa?
how the tax would be treated that is paid to india govt…
usa year endn is dec and india in march… how this is resolved
if we can bring money from NRO by paying tax, why should i open NRE demat
NOTE: i feel we can bring money from NRO account to USA (if you give reason as this NRO money transferred from NRE, it does not ask any documents) else need to submit tax documents.
Point 2 in my undertanding is dicey (specially NRE to NRO and then investment). Someone else can throw light. Instead the other approach is:
(US/ overseas account) —> Transferwise or something → NRE → NRE PINS account → Investment in India.
(US/ overseas account) —> Transferwise or something —> NRO —> Investment in India (or via NRO PINS account).
Each PINS account comes with own charges for each transaction and also annual charges.
On point 6, you need to get the status as of 31 December of the year (e.g. to declare assets, the holding statement as of a certain date is possible to be obtained. For the capital gains/ losses, only the calendar year matters again. (I am stating this from Europe perspective where we have the same challenge).
Hello Everyone
Anyone using Kotak NRO/NRE demat?. when enquired it was mentioned by Kotak that for USA/Canada customers only offline ordering is available (Order by email/phone with Relationship Manager). Is this correct?
If you are using it are you finding it convenient?
Is there any benefit of having a NRO PIS account at all when compared to Non PIS? I cant find any.
Experienced members can you please enlighten?
i am with Zerodha (DP, trading) and Yes Bank for five years. Planning to stay with Zerodha, but want to move to a different bank. My options are Axis Bank and IDFC First bank. Anyone using either? Which one’s better? For NRE PIS, are there limits to fund transfer? Can the funds transferred from bank to Zeriodha be used right away?
For your last question: I transfer funds (on behalf of my mother who is not an NRI) from her bank to her Zerodha account via NEFT and they are available for investment immediately. The funds are transferred back to the account every quarter and in case you don’t use the funds for about 3-4 weeks, then also they get transferred back to you bank. So, I need to keep transferring it again every time since we cannot find any good investment opportunties at the moment.
I recently opened PINs with kotak, and they said the same thing regarding online facility is not there. However, ICICI direct seems to be providing online buying and selling of shares to PINs account holder.
As of 2024, with the TCS taxes introduced in India last year I think that it makes no sense to invest thru a NRO account especially if you plan to bring the money back to the country where you are (USA, Canada, Australia etc).
So if you plan to repatriate the money back some point in future.
Foreign account → transfers wise or something → NRE account → PINS account
Some point in the future, its the reverse flow. (After hopefully capital gains and paying taxes)
I am researching this for my sister who is Australian citizen looking to park overseas earning in Indian markets to be used 10 years down the line for kids University education and marriage.
Could someone confirm if my understanding is correct?
I am already trying to figure out how she could invest in mutual funds (buying the direct mutual fund and thus avoiding the middleman commission). She is Australian and not US or Canadian so she wouldn’t have the tax issues.
Are you so with IIFL? How’s the services?
I have experienced Zerodha as Indian investor so I feel like going with Zerodha for nri as well, but if the offering from iifl is better I will use that one.
