Resident Demat account
Posted: Tue Sep 14, 2010 1:43 pm
Hi all,
I am in middle east for 7 yrs. Last year when i was in vacation i opened resident SB account and Demat in reputed bank.
Now my question is, i am NRI and open resident demat and doing marketing in stocks and MF.
Can i continue my demat with resident, because it will not make any problem during the income tax filing.
During income tax filing is there any question how and why you opened resident demat eventhough you are in NRI. (While opening the account i informed to bank manager that i am NRI i wish to start demat in resident account and he don't resist it)
I am in middle east for 7 yrs. Last year when i was in vacation i opened resident SB account and Demat in reputed bank.
Now my question is, i am NRI and open resident demat and doing marketing in stocks and MF.
Can i continue my demat with resident, because it will not make any problem during the income tax filing.
During income tax filing is there any question how and why you opened resident demat eventhough you are in NRI. (While opening the account i informed to bank manager that i am NRI i wish to start demat in resident account and he don't resist it)