US Equity Investing for Resident Indians • Partner SDK Reference
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Frequently Asked Questions
GENERAL & PLATFORM
Q Who can invest in US stocks?
Resident Indians investing under RBI's Liberalised Remittance Scheme (LRS) guidelines.
Q What is the minimum investment amount?
Fractional investing is supported. Users can invest with low ticket sizes depending on the stock price. Minimum trade amount is $1.
Q How long does account opening take?
Account opening is almost instantaneous for all KYC-compliant users. It might take a couple of minutes before the account becomes transaction-ready.
Q When will funds be available for trading?
• Remittance placed during market hours: funds are typically available T+1 (next business day).
• Same-day funding: coming soon.
Q Are conditional orders supported?
Yes, conditional orders are supported. However, they are available only for whole-unit purchases and not for fractional share orders.
Q Is there any fee for adding or withdrawing funds?
We do not charge any platform fee for funding your US Wallet or for withdrawing funds back to India. Note that your bank may levy its own remittance or forex conversion charges, and TCS may apply on the remittance (see Tax section below).
Q What taxes apply?
• TCS (Tax Collected at Source) may apply during remittance.
• Capital gains are taxed as per Indian income tax laws.
• Tax reports are available inside the app.
Tax Rate Details:
• LTCG: 12.5% (plus applicable surcharge & cess) if held for more than 24 months.
• STCG: Taxed at the investor's applicable income tax slab rate if held for 24 months or less.
• Dividends: The US withholds 25% at source (under the India-US DTAA). Dividends are also taxable in India at the investor's slab rate under 'Income from Other Sources'. Investors can claim a Foreign Tax Credit (FTC) for the US withholding tax while filing their Indian ITR, subject to filing Form 67.
• LRS/TCS: Remittances for overseas investments attract TCS — 0% on total remittances up to ₹10 lakh per financial year (per PAN, across all LRS purposes and all banks); 20% on the amount exceeding ₹10 lakh. This is an advance tax (not an additional cost) and is adjustable against your income tax liability when filing your ITR.
Q What details are available at the orders & trades level for users?
• Open orders
• Executed trades
• Cancelled / rejected orders
• Order status updates (real-time or near real-time)
Each order includes:
• Order type (market, limit, conditional)
• Fees charged per order
Q What details are available at the cash level (US Wallet)?
• Outward remittances (INR → USD)
• Inward remittances / withdrawals (USD → INR)
• Dividends
Q What reports are available from a tax compliance point of view?
• Capital gains reports
• Dividends & interest
• Transaction-level reports
• Schedule FA (Foreign Asset disclosure for ITR)
• Form 1042-S (US tax withholding certificate)
These reports are structured for Indian tax filing and cover India-specific implications such as LTCG/STCG classification, FTC eligibility, and Schedule FA disclosure.
MOBILE NUMBER VERIFICATION
Q Why is the mobile number being asked?
We need to verify your mobile number to ensure the person trying to onboard is really you. Under KYC (Know Your Customer) and AML (Anti-Money Laundering) norms, investment platforms are required to verify users via their registered mobile number to prevent fraud and money laundering. In most cases, your mobile number is passed securely by the partner app during SDK initialisation. In some cases, you may be asked to verify your mobile number manually within the onboarding flow.
Q Why is the mobile number linked to my Aadhaar preferred?
Your Aadhaar-linked mobile number is preferred because it will be needed during the Aadhaar verification step later in the onboarding flow. Using this number upfront ensures a smoother experience — you will receive the Aadhaar OTP on the same number without needing to switch devices or contact UIDAI.
Q I don't remember which mobile number is linked to my Aadhaar. How can I check?
You can check on the official UIDAI (MyAadhaar) portal. Use the "Verify an Aadhaar Number" feature to see the last few digits of the registered mobile number associated with your Aadhaar.
Q Can I use a number that is not available on this device?
This depends on your bank's verification requirements. Some banking partners require the mobile number to be active on the device being used (due to device-binding or SIM-binding requirements for payment authentication). If your number is not available on this device, please contact support for alternative verification options.
PAN CARD VERIFICATION
Q Why do you need my PAN card details?
PAN is mandatory under the Prevention of Money Laundering Act (PMLA) and RBI's KYC norms. The government uses PAN as a unique financial identifier to track financial transactions. It is also required by the US broker for opening your brokerage account.
Q Is my PAN data safe with you?
Yes. Your PAN data is shared only with entities required by regulation — the Central KYC Registry (CKYCR), your banking partner for LRS processing, and our underlying US broker for account opening. All data handling follows applicable data protection requirements.
Q I don't have a PAN card. Can I use my parents' PAN?
No. You cannot use someone else's PAN for your account. Regulations require that the person funding the investment (bank account holder) and the person whose brokerage account is being opened must be the same individual.
Q My name on the PAN card is different from my other documents. What should I enter?
Please enter your name and Date of Birth exactly as they appear on your PAN card. Our system verifies these details against the Income Tax database. Even a minor spelling difference can cause verification to fail.
Q Will I need my physical PAN card during onboarding?
Only if Video KYC (VKYC) is required for your account. During VKYC, you will need to show the original physical PAN card on camera. If VKYC is not applicable, you do not need the physical card — your PAN number and details are sufficient.
Q Is it necessary for my PAN to be linked with Aadhaar?
Yes. As per government rules, your PAN must be linked to your Aadhaar for it to remain operative. An inoperative PAN can prevent account opening, and may also result in higher TCS rates on your LRS remittances (under Section 206CC of the Income Tax Act).
AADHAAR VERIFICATION
Q Is it safe to link my DigiLocker here?
Yes, it is completely safe. DigiLocker is a government-owned platform. We do not get full access to your locker — we only receive a masked Aadhaar card (first eight digits replaced with "XXXX XXXX", showing only the last four digits) and specific documents you explicitly authorise, solely for identity verification.
Q Why do you need my Aadhaar card details?
Regulations require us to verify your current address and identity using an Officially Valid Document (OVD). Aadhaar is the preferred document for online account opening as it enables instant verification via DigiLocker.
Q I don't have a DigiLocker account. Can I still proceed?
Yes. You can sign up as a new user on DigiLocker directly through the onboarding flow within the app. DigiLocker registration requires your Aadhaar number and the OTP sent to your Aadhaar-linked mobile number.
Q My mobile number is not linked to Aadhaar. How can I verify?
DigiLocker requires an OTP sent to your Aadhaar-linked mobile number. If you do not have access to that number, please update it at a nearby Aadhaar Seva Kendra before proceeding.
EMAIL VERIFICATION
Q Why do you need my email if I already provided my phone number?
Your phone number is used for instant security alerts (OTPs), while your email serves as your official digital mailbox. We are required to send detailed documents — such as Contract Notes, Account Statements, and Tax Reports — to your registered email, as these are too detailed for SMS.
Q Can I use my work or office email address?
We strongly advise against it. Investing is a long-term journey. If you leave your job, you will lose access to that email and miss critical updates about your money. Please use a personal email (Gmail, Outlook, etc.) that you own permanently.
Q Will I receive spam or marketing emails?
No. Your email is used for account-related alerts (such as OTPs, password resets) and regulatory communications. We do not sell your email address to third parties.
Q I didn't receive the OTP in my email. What should I do?
Email OTPs can sometimes land in the wrong folder. Please check your Spam or Junk folder first, verify your internet connection and that the email address is correct, and tap "Resend Code" once the timer expires.
Q Do I need to use the same email I use for my bank?
No, it is not mandatory. You can use any personal email address you have permanent access to.
PERSONAL DETAILS
Q Why do you need to know where I was born?
This is a mandatory requirement under FATCA (Foreign Account Tax Compliance Act). Your birthplace helps us confirm your tax residency status and determine whether you have tax obligations in other countries, particularly the USA.
Q Does my birthplace affect my account approval?
Generally, no. As long as you are an Indian citizen and tax resident of India, your account will be approved regardless of where you were born.
Q I was born outside India. Can I still open an account?
Yes. You can proceed with account opening irrespective of your country of birth.
Q Do I need to upload my Birth Certificate?
No. You only need to type the name of your birthplace. We do not require a birth certificate document.
Q If I select "Married," does my spouse automatically get access to my account?
No. Your account is strictly individual. Selecting "Married" does not grant your spouse any access, ownership, or login rights to your investments.
Q Why do you need to know my marital status?
This is a standard requirement for the Central KYC (CKYC) registry. It helps maintain your legal profile in government records.
Q I am Divorced or Widowed. What option should I choose?
Please select "Single". The available options in the onboarding form are Married and Single. "Single" is the appropriate selection for anyone who is not currently married.
PROFESSION & ANNUAL INCOME
Q I am a Student or Homemaker. Can I still open an account?
Yes. You do not need to have a job to invest. Simply select "Student" or "Homemaker" from the professions list. Your account approval will not be affected by this choice.
Q I am retired but receive a monthly pension. Should I select "Salaried"?
No. Please select "Retired". Even though you receive a pension, your occupational status for KYC purposes is classified as Retired.
Q My profession is not listed. What should I do?
Select "Self Employed" and then choose a relevant sub-occupation type from the options shown. Pick the sub-occupation that best describes your work.
Q Do I need to upload salary slips or an employment letter?
No. You only need to select your profession from the list. We do not require proof of employment or salary slips for opening an account.
Q Why do you need to know my Annual Income?
KYC and AML regulations require us to collect income information as part of your risk profile. It helps regulators ensure financial products are appropriate for investors' profiles.
Q I am a Student or Homemaker with no income. Which option should I select?
Select "Below 1 Lakh". This is the standard category for students, homemakers, and those just starting their financial journey. It will not restrict your account in any way.
Q Will selecting a lower income limit my investment amount?
No. Your investment limit under LRS is up to $250,000 per financial year, regardless of the income slab you select here. Your actual investment capacity depends on the funds available in your bank account and your bank's LRS processing limits.
ADDING A BANK ACCOUNT
Q Why do I need to link a bank account?
Under RBI and FEMA regulations, all funds remitted abroad under LRS must originate from a verified bank account belonging to the investor. Linking your bank also ensures that when you withdraw, funds are returned safely to your own account.
Q Can I use my friend's or spouse's bank account?
No. This is a strict regulatory requirement under FEMA and AML norms. We cannot accept third-party payments. The bank account holder's name must match your PAN and your account with us. Using someone else's account will result in the transaction being rejected.
Q Is it safe to share my Account Number and IFSC Code?
Yes. Your bank details are used only for processing remittances to your US brokerage account and receiving withdrawals. We cannot debit money from your account without your explicit authorisation for each transaction.
Q Where can I find my Account Number and IFSC Code?
You can find these on your chequebook (printed on every cheque leaf), passbook (first page), or in your mobile banking app under "Account Details" or "Profile".
US STOCK TRANSACTIONS
Q Can I buy less than 1 share?
Yes. The US market supports fractional shares. You can buy 0.5, 0.1, or even smaller fractions of a share, depending on how much you want to invest.
Q How is the quantity calculated automatically?
Quantity = Your Amount ÷ Current Share Price. For example, if a stock costs $100 and you enter $50, the app calculates that you will receive approximately 0.5 shares (before fees).
Q What is the difference between "Buy by Amount" and "Buy by Quantity"?
"Buy by Amount" — enter how much money you want to spend (e.g., $100) and we calculate the shares you receive. "Buy by Quantity" — enter the exact number of shares you want (e.g., 2 shares) and we calculate the cost.
Q Will I get the exact price shown on the screen?
The displayed price is the most recent market price or last closing price. Since stock prices change continuously during market hours, the final execution price may vary slightly from what is shown at the time of order placement.
Q Why is the Total Amount Payable higher than the Stock Price?
The final amount includes the stock cost plus applicable fees (technology fee, platform fee, and regulatory charges such as IFSCA levy and FINRA TAF on sell orders). The full fee breakdown is shown before you confirm the order.
Q I have the exact amount for the stock. Why can't I place the order?
You need a slightly higher balance to cover the applicable fees. For example, if a stock costs $100 and the total fees are $0.50, you need at least $100.50 in your wallet to complete the trade.
ORDER PLACING & ORDER DETAILS
Q Why should I use a Limit Order?
Use a Limit Order if you want to control the price you pay. For example, if a stock is at $180 but you only want to pay $175, you can place a Limit Order at $175. The order will only execute if the price reaches your target.
Q What does "GTC" mean?
GTC stands for Good Till Cancelled. Your order will remain active until the price matches your target or you manually cancel it. GTC orders typically expire automatically after 90 calendar days if not executed.
Q What happens if I set a specific Expiration Date?
Your order will remain active only until the selected date. If the stock price does not reach your target limit by that date, the order is automatically cancelled.
Q I placed a Limit Order, but it hasn't been executed. Why?
This is normal. A Limit Order executes only when the market price reaches your specified limit price and there is sufficient liquidity. If the market price never reaches your limit, the trade will not execute.
Q Why is my order status shown as "Processing" or "Pending"?
This typically occurs when an order is placed while the US market is closed. Your order is safely queued and will execute when the market opens. US market hours are 9:30 AM to 4:00 PM Eastern Time (ET), which is approximately 7:00 PM to 1:30 AM IST during US summer (March–November) and 8:00 PM to 2:30 AM IST during US winter (November–March).
Q My order is "Completed" but I don't see the stock in my Portfolio. Why?
The trade has been executed. It may take a few minutes for the portfolio screen to refresh. In most cases, holdings reflect almost immediately. In rare edge cases, it may take up to 1 business day (T+1) for official settlement.
Q Can I cancel my order?
If the status is "Pending" or "Submitted", yes — tap the "Cancel Order" button. If the status is "Completed", the shares have already been bought and cannot be cancelled; you would need to place a sell order.
Q If I cancel my order, when will I get my money back?
The blocked amount (order value + fees) is released back to your US Wallet immediately upon cancellation.
Q Will I be charged fees if I cancel an order?
No. Fees are only deducted when an order is successfully executed. You pay nothing for cancelled or rejected orders.
ADDING FUNDS TO US WALLET (REMITTANCE)
Q Do I need a USD bank account in India?
No. You keep your money in Indian Rupees (INR). The app and your bank handle the conversion to US Dollars (USD) and transfer the funds to your US brokerage account.
Q Why can't I buy US stocks directly with UPI or my Debit Card?
US markets operate in US Dollars. Since your money is in Rupees, it must first be remitted under LRS (sent internationally) and converted to Dollars before it reaches your trading account. This is a regulatory requirement under FEMA.
Q What is the "US Wallet"?
Think of it as your dollar-denominated wallet in the US. Once your Rupees are converted to Dollars via remittance, the funds sit in this wallet — ready for you to buy US stocks.
Q How long does it take for money to appear in my US Wallet?
Since this is an international transfer under LRS, it typically takes 1–2 business days. It is not instant like a domestic UPI transfer, as the funds go through banking verification and forex conversion.
Q Is there a limit on how much I can add?
Yes. Under RBI's LRS, a resident Indian can remit up to $250,000 per financial year (April–March) across all permitted purposes — including investments, education, travel, and gifts. This is a per-individual, per-PAN limit. Your bank may also have its own per-transaction or per-year sub-limits.
Q I added money to my Indian account but my US Wallet is still $0. Why?
Adding money to your Indian bank account is only the first step. You must also initiate the "Add Funds" or "Transfer to US Wallet" action within the app. Once initiated, it typically takes 1–2 business days for the dollars to reflect.
Q Why do I need to share my bank statement?
Under RBI's LRS guidelines and FEMA regulations, banks must verify the source of funds being sent abroad. Banks may request recent statements based on their internal compliance policies before processing your remittance.
Q What is OneMoney, and is it safe?
OneMoney is an RBI-licensed Account Aggregator. Instead of manually downloading and uploading PDF bank statements, OneMoney securely fetches your data directly from your bank to us — with your explicit consent — eliminating the risk of manual handling.
Q How long does the bank statement verification take?
Through OneMoney, it is typically instant. Once you approve the request with an OTP, our system verifies your account and you can proceed immediately.
Q What is an A2 Form?
The A2 Form is a mandatory declaration under FEMA (Foreign Exchange Management Act) required by the RBI for all outward remittances. It officially documents the purpose and amount of money being sent abroad. Your bank collects this as part of the LRS remittance process.
Q What is a "Purpose Code"?
The RBI requires every outward remittance to be tagged with a purpose code that identifies the reason for the transfer. For investing in US equities, the code is S0001 (Indian investment abroad — in equity capital / shares). This is pre-filled in the app to ensure your transfer is processed correctly.
TAX REPORTS
Q What is the Capital Gains Report, and why do I need it?
It shows the profit or loss you made from selling US stocks. You use this to calculate your Short-Term Capital Gains (STCG) or Long-Term Capital Gains (LTCG) tax liability when filing your Indian ITR.
Q What is the "Dividends and Interest" report?
This lists income earned from holding stocks (dividends) or on uninvested cash in your wallet (interest, if applicable). In India, this income is taxable under "Income from Other Sources" at your applicable slab rate.
Q What is "Schedule FA," and why do I need it?
If you hold any US stocks or even an open US brokerage account with a cash balance, you must disclose them in your Indian Tax Return (ITR) under Schedule FA — regardless of whether you made a profit or traded during the year. Schedule FA follows the calendar year (January to December), not the financial year. This report provides the exact information needed for that section.
Q What is Form 1042-S?
This is an official US tax form showing how much tax was withheld by the US on your dividend income. You need this form (along with Form 67 filed with your ITR) to claim a Foreign Tax Credit (FTC) in India, ensuring you are not taxed twice on the same dividend income.
Q What is "Transaction Activity"?
This is a comprehensive record of every transaction in your US account — including buys, sells, dividends, fees, deposits, and withdrawals — all in one place.
WITHDRAWAL OF FUNDS
Q Why is my "Withdrawal Balance" lower than my total account value?
You can only withdraw settled cash. If you recently sold a stock, the US market standard settlement cycle is T+1 (one business day). Until settlement completes, the sale proceeds are "unsettled" and cannot be withdrawn.
Q What does "Settled Cash" mean?
Settled cash is the actual cleared money in your account that is not tied to any pending trades or recent unsettled sales — it is the ready-to-withdraw cash in your US Wallet.
Q How long does it take for the money to reach my Indian bank?
Withdrawals typically take 3–5 business days to reach your Indian bank account, as the funds go through international wire transfer processing and forex conversion.
Q Do I have to pay tax when I withdraw money to India?
You don't pay tax on the withdrawal itself. Tax is levied on any capital gains (profits from selling stocks) or dividend income earned — regardless of whether you withdraw the funds or not. Withdrawing is simply moving your own money back to India.