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0.001%??? Anyway it should be a thing of every one.. not just the ones that live freely on it!

It doesn't affect Indians out of India which are a small number in any case. If you live abroad you live according to local laws generally speaking.

I can handover my portfolio to friends living abroad in that case. Government will force us to submit our portfolio and even tax us probably.

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All assumptions right now. Wait until there's more clarity.