In case a NRI does trading in future & options on NSE from outside India, are the gains made subject to TDS. At what rate and under which provisions of Indian Income tax Act ?
In case a NRI does trading in future & options on NSE from outside India, are the gains made subject to TDS. At what rate and under which provisions of Indian Income tax Act ?
Yes, F&O trading is typically treated as business income and for NRIs, such income is subject to TDS at the maximum marginal rate u/s. 195 IT act; at 39%.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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