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Merchant Navy

This query is : Resolved 
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(Querist)
15 February 2021 Hi All,
Would require clarification on the following points: The particular taxpayer is an merchant Navy officer- files under Nri for taxation purpose.
1) There have been stock trading- FNo and day trading in the Demat account - which is under normal savings account. But tax and all filing have happened properly according to the rules.
2) If any repercussions are there, what are they?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
15 February 2021 NRIs can only trade on delivery basis in Indian equities. So, intraday trading, BTST trading, STBT trading and even short selling is not open to NRIs. Currently, NRIs have been permitted to trade in Indian equities and F&O but they are barred from trading in currency derivatives and in commodities.
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