Online Demat Account of NRI

Nikhil Kumar (CA , Qualified CPA) (910 Points)

04 January 2009  

A person purchased some shares some time back when demat accounts were not introduced. Now he has moved to Canada and wants to sell off those shares thorugh online demat account. I called ICICI bank but they dont provide online demat facility to Canada and USA people. It it true with other banks also. And What would be the taxationa and repatriation laws for the same transaction.