for banknifty i see 5% o.i.limit is around 1000 to 2000 lots ,if i had to increase quantity can i take position in different strikes with 5% limit or is there some market wide limit upto which an individual can take trade?
market wide limit. You will have to do it from different accounts (PAN)
What if funds are not remitted from India?
E.g. An individual working is US has been doing options trading in US. When he moved to India, He already had funds from his US earnings. He continued to trade on same & never remit funds from India to US.
That should not fall under purview of “liberalized remittance scheme (LRS)”
Could you please share your opinion?
Are you an NRI or Indian resident who is not residing in India?
Hmm… Tricky one, but yeah technically it would not be part of LRS. If the clients status changes from non-resident to resident Indian, can you continue to hold an account like that is the question to ask?
In India, when a client status changes from resident to non-resident, he is required by law to change all bank and trading/demat accounts to NRI.
@TAXIQ.IN would you have an idea?
Yes we need to change the Bank account as for Non residents , the type of bank accounts are different.