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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (3181)	11/8/1998 1:55:00 PM
From: Nandu	Read Replies (2) \| Respond to of 12475

Mohan, thanks for the information on online brokers in India. I am not planning anything right now, but if I get involved I will let you know how it goes. Internet is getting a boost in India with the monopoly being taken away from VSNL. I have a feeling that the Internet may be the next big thing in India, after software companies, though I doubt it will become as big as the software biggies. If you come across any ISPs trying to do an IPO, that might be opportunity knocking on your door. Now let me respond to the trading from India comments. I might as I intend to spend a lot of time there beginning the latter part of next year not because of any particular advantage.You think there is some special advantage in trading from there? No as far as I know there is nothing illegal about it as you will be paying taxes here in the U.S for income generated here and if you become a resident in India you will also be paying taxes in India for the income generated there.I think one becomes a resident in India if one stays there 180 days continuously.According to the new regulations NRIs are allowed to keep funds overseas and there is no need to repatriate all the financial assets when they go back to India and become residents.Don't quote me on these but this is my understanding. No, I don't think there is any advantages to doing the trading from India. I would expect that there would be some extra hassles. But if most of your income comes from trading (not true for me), then you may prefer to live in India rather than here. Being in California, I have to wake up before six to watch my trades, but I think that is better than staying up till one in the night, unless you are constitutionally inclined to be a night owl. As for the legal and tax issues, I am not so sure. I read somewhere that non-residents don't have to pay capital gains taxes in the US. On the other hand, US citizens have to pay US taxes on all their income irrespective of where they earn it or where they live. I am aware that ex-NRIs are allowed to keep funds abroad, but does that extend to trading? How long will you be gone? Let us know how it goes, and