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ranjankar
Lv 7
ranjankar asked in Business & FinanceSmall Business · 1 decade ago

Do you need RBI permission to open a NRO linked demat a/c ?

3 Answers

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  • Anonymous
    1 decade ago
    Favourite answer

    NRI can invest in shares market through registered brokers after getting

    a PINS permission from RBI which is provided by any bank in India. The NRI has to visit any designated

    bank which has an authority to issue PINS permission letter on behalf of Reserve Bank of India to open

    Saving as well as PINS account. After that, the NRI has to open a demat and trading account with

    registered broker.

    Tax policy applicable on Selling of shares can be broadly divide into long term capital gain tax and

    short term capital gain tax. Currently, the rate applicable on short term capital gain is 15 per cent

    (plus applicable cess) on the gains, whereas long term capital gain tax is NIL.

    Source(s): http://www.nrimatters.com/blogs/nricommunity/answe...
  • ?
    1 decade ago

    yes

    Source(s): nothing
  • ?
    Lv 7
    1 decade ago

    i think yes

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