The amount will come into your bank account on payout. Generally, you can expect the amount to get credited to your bank account on T+2.

At times, however, the share may be in No Delivery and hence the payment may be received only after the No Delivery Period is over, which might be 1-2 weeks away. The date on which amount is to be credited to your account can be checked from the Cash Projections page.

There may be a delay in credit of the sale proceeds (whole or part) for another reason also. The same is highlighted to you when you put the sale order. In this case, the credit is dependent on submission of documents required latest by the 3rd of the next calendar month at nri@icicidirect.com or directly raise SR from the trading account by below path:

Settings > Service Request > Submission of documents for TDS calculation.

Where the sale is made from your Non-PINS NRE account-

The following two things need to be ascertained before credit is given to your bank account:
Proof of source of funds used for purchase is required when you sell shares from your NRE account.
The cost of acquisition of the securities to permit deduction of TDS on an amount lesser than on the entire sale proceeds.
Documentary proof need not be submitted if the shares were purchased through ICICI Direct and held for more than one year.

You need to provide documentary proof in case the purchase was not made through ICICI Direct

Till the time proofs are received no credit would be given to the bank account and the monies will be parked in the suspense account with bank.

Customer need to submit the document to ascertain the cost of acquisition for taxation for Non PINS trades. Repatriation proof is required if transaction is done through NRE Non-PINS account for ascertaining repatriability of funds and crediting the funds to NRE Bank account.
 Submitting documentary proof is mandatory for TDS calculation as per below mentioned scenarios

No documentary Proof Required

• If shares were purchased from your ICICI Direct account
• Shares being sold are bonus shares transferred from your ICICI Direct PINS account

Shares being sold were allotted under IPO through ICICI Direct

Documentary Proof Required, shares being sold are

Additionally

Demat Transaction Statement from where shares were transferred to your ICICI Bank DP

Repatriation proof to establish shares were acquired with NRE funds, if applicable

Declaration

In case if documentary proof is not provided, LTCG or STCG as the case may be based on holding period will be applicable on the entire transaction value that will be deducted and paid to Income Tax authority.

In case of sale through NRE Non Pins account where repatriability proof is not provided, payout will be withheld and by the end of month such payout will be credited to NRO linked bank account under same user ID, wherever available. If NRO bank account is not available, payout will be withheld till proof OR alternate NRO bank account is provided

In case if additional TDS has been deducted by ICICI Direct in absence of documentary proof, you can claim the additional tax deducted by filing your IT returns.

In case you are selling shares of demerged company OR shares of resulting company OR both then the purchase rate will be considered as ‘zero’ until the demerger ratio of allocation of cost between the companies is provided by the demerged company as per provisions of section 49(2C) & section 29(2D) of the Income Tax Act.

As per Section 49(2ABB) of the Act, the cost of acquisition of the shares acquired by a non-resident assessee on redemption of ADR shall be the price of such share or shares prevailing on any recognised stock exchange i.e. NSE/BSE on the date on which a request for such redemption was made.

 The period of holding of the converted shares shall be the date on which request for conversion of the ADR was made.

 For taxation purposes, we will be considering the following

 Purchase Rate – Prevailing rate of shares on Conversion request date

Date of acquisition – Conversion request date

If sufficient documents are not received by the last date mentioned above, the entire TDS would be deposited with the Govt. of India