3

I would like to know how to fund my option house account(Trading account) from India ?

  1. Option house is a US based brokerage firm
  2. Why would an Indian citizen need to fill up form 15CA & 15CB to wire funds from Indian saving account to Trading account based in USA ?

Thank you

Dheer
  • 57,348
  • 18
  • 89
  • 170
hemanandan raju
  • 31
  • 1

1 Answers1

1

Option house is a US based brokerage firm

You can make a SWIFT payment giving the details of the Broker account, Bank, SWIFT BIC [or ABA]. The broker should be able to provide you the details.

Why would an Indian citizen need to fill up form 15CA & 15CB to wire funds from Indian saving account to Trading account based in USA ?

As per FEMA [Foreign Exchange Management Act], any transfer by individuals outside of India need the 15CA & 15CB form. The 15CA is from a CA to state that taxes have been paid on the funds being transferred. The limit is 1 million USD per year.

Dheer
  • 57,348
  • 18
  • 89
  • 170