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    ICICI Direct NRI Account

    Q. What is the process for grandfathering when acquisition details (contract note) are unavailable for shares acquired before 1 February 2018 and sold from NON PINS account?

    If the client cannot provide the acquisition details (contract note) but submits a Demat Transaction Statement, the acquisition date is determined using the First-In, First-Out (FIFO) methodology based on the transactions reflected in the statement. If the FIFO-derived acquisition date is prior to January 31, 2018, the applicable grandfathering provisions are considered, subject to the following process:

    Client confirmation available: Applicable grandfathering provisions are applied upon receipt of client confirmation, subject to the prescribed TDS and other applicable checks. Payout is released after completion of these checks.

    Client confirmation unavailable: The transaction is routed for finalisation, where applicable grandfathering provisions are assessed based on the FIFO-derived acquisition date. Payout is released only after completion of the finalisation process and applicable checks.

     

    What is ICICI Direct? What are the products offered by ICICI Direct? What is unique about NRI account offered by ICICI Direct? What is the 3-In-1 concept offered by ICICI Direct for an NRI account? What type of accounts does an NRI need to start investing with ICICI Direct? What are the advantages of using ICICI Direct? Which Equity segments can NRIs trade in? What are Types of account provided by ICICI Direct for NRI Services? Do NRIs need to apply separately for Portfolio Investment Scheme (PINS)? What type of accounts does an NRI need to start investing with ICICI Direct? Why is the NRI client unable to login and getting FATCA error? What is NRI re-KYC process? What is the process for converting NRI account to a Resident Account? What happens to the Bank, Demat, and Trading accounts after NRI to RESIDENT CONVERSION? What happens to the Mutual Funds holdings after NRI to Resident Conversion? What are the eATM Limits for NRI Customers? NRI client can view the capital gain & loss adjusted against their transaction initiated through PINS account online through ICICI direct portal? What is the Address updation process for NRI ? What is the process for converting RI to NRI ? Can losses be offset for trades done from a non-PINS account? What is the Process to update contact details for NRI clients ?