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Samraat

Samraat Jadhav

Stock Market Expert 

1812 Answers | 121 Followers

Samraat Jadhav is the founder of Prosperity Wealth Adviser.
He is a SEBI-registered investment and research analyst and has over 18 years of experience in managing high-end portfolios.
A management graduate from XLRI-Jamshedpur, Jadhav specialises in portfolio management, investment banking, financial planning, derivatives, equities and capital markets.... more

Answered on Jun 11, 2024

Asked by Anonymous - Jun 07, 2024Hindi
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I have ESOP from a US-listed company for which I was working till 2018. It seems a trading account has been created in my name in US where the dividend proceeds from the ESOP stocks have been deposited along with the stock. Now what are the tax implications for me in India? I am now an Indian living in India. What steps must I follow for transferring the proceeds into my Indian account?
Ans: Any profit arising on the sale of shares allotted to you under the ESOP or any similar scheme is taxed under the head “Capital Gains" in India. The profits made on such shares shall be taxed as long-term capital gains if these shares are held for more than 24 months. You are entitled to claim indexation for computing the long-term capital gains. Long-term capital gains are taxed at a flat 20% after indexation. If the shares are sold within 24 months, the profits shall be taxed as short-term capital gains. The short-term capital gains are treated like your regular income and get taxed at a slab rate applicable to you. The holding period shall start from the date of allotment of the shares and not from the date of allotment of the ESOPs. I presume your employer had deducted/collected tax on the difference between the fair market value of the shares and the exercise price on the date of allotment. So when you sell these shares, the fair market value of such shares on the date of allotment shall be treated as your cost. Any excess realised over such cost shall be treated as capital gains.
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Answered on Jun 07, 2024

Asked by Anonymous - Jun 07, 2024Hindi
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Answered on Jun 06, 2024

Answered on May 31, 2024

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I just completed master's in economics and finance from UK. Please advise how to become a SEBI registered investment advisor?
Ans: 1. Qualification: The first thing you should ensure before proceeding with the application is to meet the qualification requirements for making the application. An individual IA or a principal officer of a non-individual IA or a person associated with investment advice should have the following minimum qualification, at all times: (a) A professional qualification or post-graduate degree or post graduate diploma (which shall be of minimum two years in duration) in finance, accountancy, business management, commerce, economics, capital market, banking, insurance or actuarial science from a university or an institution recognized by the Central Government or any State Government or a recognised foreign university or institution or association; or (b) a professional qualification by completing a Post Graduate Program in the Securities Market (Investment Advisory) from NISM of a duration not less than one year; or (c) a professional qualification by obtaining a CFA Charter from the CFA Institute.

2. Experience: An individual IA or a Principal Officer of a non-individual IA must have an experience of at least five years in activities relating to advice in financial products or securities or fund or asset or portfolio management.
However, a person associated with Investment Advice must have an experience of at least two years in activities relating to advice in financial products or securities or fund or asset or portfolio management. 3. Certification: An individual IA or a principal officer of a non-individual IA or a person associated with investment advice should have a certificate on financial planning or fund or asset or portfolio or investment advisory services from: (a) NISM; or (b) any other organization or institution including Financial Planning Standards Board of India or any recognized stock exchange in India provided such certification is accredited by NISM. Note: A fresh NISM certification must be obtained before expiry of the validity of the certification to ensure the continuity in compliance with certification requirements. A fresh NISM certification shall not be obtained through a CPE Program. For Example: If you have an MBA degree in Finance (2 years course) with 5 years of experience as required and take NISM exam, you will fulfill the qualification and certification requirement. However, if you have an MBA degree in marketing (2 years course) with 5 years of experience as required, you will not fulfill the qualification and experience requirement. 4. Net worth The net worth requirement are as follows: In case of non-individual investment advisers– The net worth should not be less than INR 50 Lacs. In case of individual investment advisers– The net worth in form of net tangible assets should not be less than INR 5 Lacs. *Net worth means the aggregate value of paid up share capital plus free reserves (excluding reserves created out of revaluation) reduced by the aggregate value of accumulated losses, deferred expenditure not written off, including miscellaneous expenses not written off. The net worth certificate shall be obtained by a Chartered Accountant and shall be attached to the form while making an application with SEBI. 5. Adequate Infrastructure You should ensure to have an adequate infrastructure which shall include office space, office equipment, furniture and fixtures, communication facilities, research capacity, research software for undertaking investment advisory services. Application and Fee Structure Once you are sure that you meet the above criteria, you can proceed with making an application with SEBI for IA. However, before proceeding you are required to take in-principal approval from BASL. Login to the BASL portal- https://membership.bseasl.com/.

Once BASL sends you an approval email requesting you to proceed with filing of application with SEBI, you can start the process. For this, you will require to login to https://siportal.sebi.gov.in/intermediary/index.html and complete the initial application process only then you will be able to proceed with the application with SEBI. All the details mentioned in Form A are required to be provided along with all the necessary required documents as attachments. Note: In order to grant the registration certificate under the IA Regulations, SEBI might want the applicant to furnish further information or clarification on the submitted documents.
Upon SEBI being fully satisfied with your application, will intimate you to make the payment for BASL membership (the fee structure for BASL membership is mentioned in the article, link to which is provided above). SEBI on receiving internal approval from BASL on receipt of fees, will issue you the SEBI IA License. BASL on the other hand will issue you the certificate of membership.
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Answered on May 30, 2024

Asked by Anonymous - May 09, 2024Hindi
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Answered on May 30, 2024

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