I am an nri and i trade online with ICICI direct. These online brokers are milking nris. The commision for a trade - buy and sell - is 3% while the locals pay hardly 0.3% No margin or F & O allowed. NRIs pay capital gains. In fact, it is deducted at source. While the residents have to file returns. And the worst part for NRIs is that the losses cannot be offset in any way against the gains like the residents can. This becomes a double whammy when bonus shares are sold within a year - nris end up paying 33% as capital gains tax which is deducted at source.This is because the purchase price is considered as Zero. So if bonus is announced in any shares that i hold, i run to sell before the bonus! And to top it all, NRIs have to juggle with Four trading a/c : - NRI pins; NRI non-pins, NRO pins, NRO non-pins. When will the concerned authorities remove all these pinpricks. Another hurdle faced by the NRIs is that they cannot buy every share. For instance media shares are not allowed. Also cannot buy other shares like PNB, Bharti airtel, SBI, BOB etc etc. This is because NRIs are clubbed with FIIs. Its time the NRIs are delinked from the FIIs.
Whats with the < i> and tags in the story, pretty irritating when reading. Does such a big online company doesnt have people who can write proper HTML or does it lack servers which can render HTML...
TV-18 has an official tie up with the Anil Ambani group. All its funding is derived from there. Yatra, the travel website ownesd by TV-18 is also funded by the same person. In such a case, can it uphold journalistic freedom on all its TV channels like IBN, CNBC-TV 18 , IBN 7 when issues relating to Anil 's companies arise....
