I am aware that person based in India cannot remit funds in overseas account for margin/leveraged product. (courtesy: liberalized remittance scheme (LRS)”
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 Anyone, Zerodha or Nitin Kamath please share your opinion?