ShiftAlt Capital · How we invest

Philosophy. Process.
Discipline.

Everything we do flows from one conviction: that protecting capital is not the opposite of growing it — it is the precondition for growing it. The sections below make that conviction operational.

Philosophy Portfolios Methodology How to invest Team
0+ Years combined experience
US $ 0 K Minimum investment
0 Quantitative filters
0 day Rebalancing cycle

Investment philosophy

Most investors
optimise for returns.
We optimise
against loss.

The mathematics of loss are unforgiving. A portfolio that falls 50% requires a 100% gain simply to return to where it started. Most wealth management products are designed around the upside — around the story of what you might earn. We are designed around the downside — around the discipline of what you will not lose.

This is not conservatism. It is arithmetic.

Our governing structure
The barbell approach

A capital-preservation core compounded with a bounded high-conviction growth sleeve — sized so that even a complete drawdown of the growth side cannot materially impair the core.

70–80% Preservation
Core
20–30% Growth
Sleeve

Why this matters to you

You have worked to accumulate this capital. The asymmetry of loss means that a single bad year — a 40% drawdown — can set a portfolio back four to five years of gains. Conventional wealth management, with its emphasis on diversification across asset classes that turn out to be correlated in a crisis, offers less protection than it appears to.

We believe that true diversification is a mathematical property of a portfolio, not a feature of having many line items. Assets that appear diversified in calm markets often converge during stress. Our process specifically tests for and manages correlation — not just at construction but continuously, through every quarterly rebalance.

The result is a portfolio designed to compound through cycles rather than despite them. One that you can hold without watching it daily. One that performs the function serious capital is supposed to perform: growing steadily, in dollars, over time, without requiring your constant attention or tolerance for dramatic volatility.

Dollar denomination adds a further layer of structural resilience for Indian and GCC investors. The rupee has depreciated meaningfully against the dollar over every significant time horizon. Holding USD assets is not speculation on currency — it is a structural hedge against a well-documented long-term trend.

A 50% loss requires a 100% gain to recover. We begin every investment decision with that fact, not with the upside."

ShiftAlt Capital · Investment principles

2019 2020 2021 2022 2023 2024 2025 +80% +60% +40% +20% 0% COVID drawdown Rate hike correction Most Relevant Stocks All Weather S&P 500 Reference ILLUSTRATIVE — NOT ACTUAL RETURNS
01

The asymmetry of loss

Losses compound faster than gains. A 20% loss requires a 25% gain to recover. A 50% loss requires 100%. A 70% loss requires 233%. This asymmetry means that a portfolio manager's first obligation is not to find the best opportunities — it is to avoid the worst outcomes. Every position we take is evaluated first on what it could lose, then on what it could earn.

Capital preservation first
02

True diversification is mathematical

Most investors believe they are diversified when they own 15 or 20 stocks across different sectors. In a market crisis, these stocks typically fall together. Real diversification means holding assets whose prices are negatively correlated under stress — that is, assets that rise when others fall, or at minimum, fall less. We construct portfolios with this property deliberately, testing for it mathematically at every rebalance.

Correlation-aware construction
03

Quantitative discipline over intuition

Markets punish discretionary decision-making over long time horizons. The manager who "feels" that a stock is cheap, or who holds through a drawdown because they "believe in the business," systematically underperforms rule-based processes. Every decision in our portfolios — which stocks to admit, which to exit, how to size positions, when to rebalance — is governed by explicit quantitative criteria. The criteria can be examined. The process can be audited. There is no black box.

Rules-based process
04

Alpha through a defined growth sleeve

The preservation core is not the whole portfolio. A defined percentage of each strategy is allocated to high-conviction, high-momentum positions — businesses at the frontier of AI, biotechnology, data infrastructure, robotics, space, and cybersecurity — as well as emerging asset classes where institutional acceptance is broadening. This sleeve is sized so that its complete loss, in the extreme scenario, does not materially impair the portfolio. Its purpose is to capture the exceptional upside that the preservation core, by design, will not.

Structured alpha generation
Risk metric · 01
Sharpe Ratio

Measures the return earned per unit of total portfolio risk. A Sharpe ratio above 1.0 means the portfolio is generating more return than the risk it is taking. We track this continuously against both the S&P 500 and Nifty 50 benchmarks. A portfolio with a Sharpe of 1.5 versus an index Sharpe of 0.8 is generating nearly twice the risk-adjusted return.

Formula: (Rp − Rf) ÷ σp
Portfolio
1.5+
Index
0.8
Risk metric · 02
Sortino Ratio

A refinement of the Sharpe ratio that penalises only downside volatility — the kind that actually hurts investors — rather than total volatility. A portfolio can have high total volatility if most of that volatility is to the upside, and the Sortino ratio will correctly show this as a lower-risk profile than the Sharpe ratio alone suggests. We target a Sortino above 2.0 across both strategies.

Formula: (Rp − Rf) ÷ σd (downside deviation only)
Target
>2.0
Baseline
0.6
Risk metric · 03
Information Ratio

Measures the consistency of outperformance relative to a benchmark. A high Information Ratio means the portfolio is beating its benchmark reliably, not just on average. A manager can outperform over five years by having two extraordinary years and three mediocre ones — the Information Ratio reveals whether the outperformance is structural or lucky. We track this monthly against the S&P 500 and report it quarterly.

Formula: (Rp − Rb) ÷ Tracking Error
Consistent
High
Average
Med
Built on institutional infrastructure

Two strategies · one discipline

Choose your risk profile.
Both are managed with the same rigour.

Each portfolio is an expression of the same investment philosophy applied at a different point on the risk-return spectrum. All Weather anchors the preservation thesis. Most Relevant Stocks reaches toward the frontier. Both are rebalanced quarterly, benchmarked rigorously, and available from a minimum investment of US $25,000.

Minimum investment: US $25,000 per strategy. Many investors hold both — see below for how they complement each other.
Portfolio Balance

How capital is deployed

Structured for all conditions

The exact allocation shifts with market conditions and your chosen strategy — but the structure is constant: a preservation core that anchors, a growth sleeve that performs.

Preservation Core — defensive, ETFs, essential demand 70–80%
Growth Sleeve — momentum-qualified, high conviction 20–30%

Portfolio Architecture

Capital preservation · Essential demand

All Weather

For investors who want the portfolio to work while they sleep — steady compounding, managed drawdowns, no surprises

All Weather invests in businesses with constant, non-discretionary demand — healthcare systems that are used regardless of economic conditions, consumer staples that are purchased through recessions, utilities that operate as essential infrastructure, and established technology platforms with deeply embedded switching costs.

The portfolio is anchored with institutional ETFs from BlackRock and Invesco, chosen for their governance, liquidity, and transparent underlying holdings. Individual equity positions are selected only where they meet both the momentum and fundamental quality filters described in the methodology section.

The defining characteristic of All Weather is that its allocation to negatively correlated asset classes is maximised. In a market downturn, portions of this portfolio are designed to hold or rise while equity markets fall.

Volatility profile
Low to moderate
Primary objective
Capital preservation + growth
Asset universe
Large cap US · Investment-grade ETFs
Rebalancing
Quarterly · rule-based
Benchmark
S&P 500 · Nifty 50
Correlation target
Negative to mixed
Instrument types
BlackRock ETFs Invesco ETFs Healthcare equities Consumer staples Utilities Essential tech
Invest in All Weather View performance metrics →
Momentum · Frontier technology

Most Relevant Stocks

For investors who want exposure to the businesses defining the next decade — with the rigour of a quantitative process, not speculation

Most Relevant Stocks takes concentrated positions in the sectors where structural economic change is most accelerated and where the addressable markets are, by their nature, global and expanding: artificial intelligence, biotechnology, data centre infrastructure, robotics, space exploration, and cybersecurity.

Positions are admitted only after passing the same four-filter methodology applied to All Weather: universe definition, momentum screening, fundamental quality verification, and portfolio construction. The difference is that this portfolio's momentum filter is calibrated to identify businesses with exceptional, sustained upward price movement — the kind that reflects genuine market recognition of structural competitive advantage.

Where market acceptance of a new asset class has broadened sufficiently — as with the BlackRock Bitcoin Trust — and the fundamental and momentum filters are satisfied, the portfolio may include exposure. This is a process-driven decision, not a thematic one.

Volatility profile
Moderate to elevated
Primary objective
Growth + alpha generation
Asset universe
Large & mid-cap US · Growth ETFs
Rebalancing
Quarterly · rule-based
Benchmark
S&P 500 · Nifty 50
Momentum filter
Strong sustained upward
Sector focus
Artificial intelligence Biotechnology Data centres Robotics Space exploration Cybersecurity Growth ETFs
Invest in Most Relevant View performance metrics →

Do I have to choose?

Many investors hold both — and size them deliberately.

All Weather and Most Relevant Stocks are designed to complement each other. All Weather functions as the core — the capital-preservation anchor that compounds steadily through cycles. Most Relevant Stocks functions as the satellite — a defined growth sleeve that reaches for the exceptional upside that the core, by design, will not pursue. Together, they approximate the barbell structure that defines our investment philosophy: robust preservation at the centre, structured alpha at the edges. The sizing between them is a personal decision based on your time horizon, your income needs, and your comfort with volatility. We are happy to discuss what allocation makes sense for your situation before you invest.

Core allocation
All Weather
Preservation anchor · steady compounding · low correlation
Illustrative: 60–75% of total
Satellite allocation
Most Relevant
Growth sleeve · frontier exposure · bounded upside
Illustrative: 25–40% of total

Our process

Four filters. Applied on entry. Reapplied every quarter.

Every position in every ShiftAltCap portfolio passes through four sequential filters before it is admitted — and through the same four filters every quarter before it is retained. The process is the same whether markets are rising or falling.

01Universe definition 02Momentum screening 03Fundamental quality 04Portfolio construction
01
Filter one

Universe definition — exclusion before selection

Before any stock is evaluated, the investable universe is defined and constrained. Our process begins with exclusion, not inclusion. We invest exclusively in large and mid-cap securities listed on US exchanges — NYSE and NASDAQ. Small-cap stocks, OTC-traded securities, and newly public companies without established trading histories are excluded by rule, not by discretion.

This single constraint eliminates the vast majority of speculative instruments from consideration. It is not a reflection of disinterest in growth — it is a recognition that liquidity, governance, and reliable financial reporting are preconditions for the kind of risk management our process requires. A position we cannot exit cleanly in a stress scenario is not a position we will take.

What this rules out: Penny stocks, recent IPOs, thinly traded securities, OTC instruments, leveraged ETFs, inverse ETFs, and any security where bid-ask spreads indicate insufficient institutional participation.
02
Filter two

Momentum screening — the market's vote

From the eligible universe, we apply a momentum screen. Price momentum — sustained, statistically significant upward price movement relative to both the broader market and the security's own historical distribution — is the first quantitative test a candidate must pass.

Momentum is a documented factor in financial markets. Securities with strong recent price performance tend, on average and over the medium term, to continue outperforming. More importantly for our purposes, momentum is the market's aggregated vote on a business. Before we conduct fundamental analysis, we ask: is the market, in aggregate, currently rewarding this business? If the answer is no — if the stock is in a sustained downtrend regardless of how attractive the fundamentals appear — we do not proceed. We are not in the business of catching falling knives.

Technical basis: We look at relative strength across 3-month, 6-month, and 12-month windows, adjusted for volatility. Candidates must demonstrate momentum across at least two of the three windows to proceed.
03
Filter three

Fundamental quality — confirming what the market sees

Momentum tells us the market is rewarding a business. Fundamental analysis tells us whether the market is right to do so. Candidates that pass the momentum screen are then evaluated against three fundamental criteria: consistent earnings per share growth, sustained revenue expansion, and balance sheet soundness.

We require EPS growth that is positive and expanding over a minimum of four consecutive quarters. Revenue growth must be genuine — not the product of accounting adjustments or one-time items — and must demonstrate a structural trajectory rather than cyclical recovery. Balance sheets are evaluated for debt sustainability relative to earnings and cash flow generation.

The sequence of momentum first, then fundamentals, is deliberate. We are looking for businesses that the market is already recognising and that the underlying numbers confirm. Businesses with strong fundamentals but weak momentum are businesses the market has decided, for some reason, not to reward right now. We respect that signal.

What passes: Consistent EPS expansion over ≥4 quarters · Revenue growth with structural trajectory · Debt/EBITDA within sustainable range for the sector · Positive free cash flow generation
04
Filter four

Portfolio construction — the system, not the sum

A collection of good businesses is not a portfolio. A portfolio is a system of positions whose combined behaviour, under different market conditions, produces a defined risk-return profile. This fourth filter is where individual stock selection becomes portfolio management.

Candidates that have passed the first three filters are evaluated for their contribution to the portfolio's overall correlation structure. We calculate the correlation of each candidate to every existing position, and to the portfolio as a whole. A stock that is highly correlated with existing holdings — even if it is an excellent business by all other measures — may not be admitted if it increases rather than reduces the portfolio's sensitivity to a single risk factor.

The three-way blend — aggressive positions for growth, defensive positions for stability, negatively correlated positions as a structural hedge — is recalculated at this stage. Position sizing is determined by the risk contribution of each holding to the portfolio, not by conviction about its return potential. The Sharpe ratio, Sortino ratio, and Information Ratio are calculated for the proposed portfolio and compared against the benchmark. If the risk-adjusted metrics do not improve, the candidate is not admitted.

ETF governance: Where ETF positions are used — BlackRock and Invesco instruments — they are selected for institutional governance standards, deep liquidity, and transparent underlying holdings. These are not passive index funds by default; they are chosen for their portfolio construction properties.

Quantitative rigour

From thousands
of securities to a
disciplined few.

Every quarter, the same four filters reduce the investable universe to only those positions that earn and keep their place.

UNIVERSE FILTER 1 FILTER 2 FILTER 3 PORTFOLIO 3,000+ NYSE & NASDAQ ~1,500 Large & mid-cap ~400 Momentum pass ~80 Quality pass 15–25 Portfolio positions

What happens every quarter

The rebalancing cycle — five steps, every ninety days

Step 01
Screen the universe

Every security in the eligible large and mid-cap universe is re-screened for momentum and fundamental quality. Market conditions change; the universe of qualifying candidates changes with them.

Step 02
Evaluate existing positions

Every current holding is run through the same four filters it passed on entry. Positions that no longer qualify on momentum or fundamentals are flagged for exit regardless of their historical performance.

Step 03
Recalculate correlation

The correlation matrix of the portfolio is recalculated. Positions whose correlation to the portfolio has shifted — due to market regime changes — are resized or exited to maintain the intended diversification structure.

Step 04
Admit new candidates

Candidates identified in the universe screen that improve the portfolio's risk metrics are admitted. Position sizing is determined by risk contribution, not by return conviction.

Step 05
Verify risk metrics

The rebalanced portfolio's Sharpe, Sortino, and Information Ratios are calculated and compared to benchmark. If the metrics have not improved, the proposed rebalance is rejected and the prior composition is retained.

"The result of this process, applied consistently and without exception, is a portfolio that compounds through cycles rather than despite them."

ShiftAlt Capital · Investment methodology

Start investing →

Getting started

The process is straightforward.
We have made it that way deliberately.

From decision to invested in under two weeks.

Investing in US-listed securities from India or the GCC is fully legal, well-regulated, and considerably simpler than most investors expect. The four steps below describe the complete process. There are no hidden stages, no manual document handling, and no lock-in at any point.

01
Account setup · 1 day

Open your account on Stockal

KYC is conducted by Stockal — Borderless Softtech Pvt Ltd — under applicable regulations, the same standards applied to any regulated investment account. The process is entirely digital and requires only documents you already possess.

Indian residents provide their PAN card. GCC residents provide their Emirates ID or equivalent national identity document. Most applicants complete the process in under fifteen minutes. There are no physical documents to post and no branch visits required.

02
Remittance · 2–5 days

Send funds to your account

The transfer process differs by geography. Both routes are legal, tested, and supported by major banks.

How funds reach your portfolio
India LRS · Your bank
DriveWealth SEC · SIPC · US
Your Portfolio NYSE · NASDAQ

GCC investors send via direct SWIFT wire — same DriveWealth destination. You own the underlying securities directly, not units in a fund.

India residents — via LRS Transfer USD from your Indian bank account under the RBI Liberalised Remittance Scheme. Annual limit: US $250,000. Supported by HDFC, ICICI, Axis, SBI and most major banks via their online portals. TCS applies at remittance and is claimable against your tax liability. Funds typically clear in 2–5 business days.
GCC residents — direct wire Transfer via standard international wire from your UAE, Saudi, Qatar, Kuwait, Bahrain or Oman bank account. No LRS constraints, no annual limit, no TCS. Typically clears in 1–3 business days.
03
Portfolio selection · same day

Choose your strategy and invest

Select All Weather, Most Relevant Stocks, or allocate across both. The investment is made on your behalf the same day funds clear in your DriveWealth account. You will see your holdings in the Stockal dashboard immediately.

You will own the underlying securities directly — not units in a fund, not a derivative, not a pooled structure. Your name. Your account. Your securities. DriveWealth holds them as custodian on your behalf.
04
Ongoing · zero lock-in

Monitor, withdraw, sleep

Your portfolio is visible in real time via the Stockal app. Quarterly rebalancing happens automatically — you are notified but nothing is required from you. There is no lock-in period and no exit fee at any point.

To withdraw: instruct a sale through the Stockal platform. Proceeds settle in your DriveWealth account within the standard US market T+1 settlement period and are repatriated to your bank account. The exit is as clean as the entry.

How long does it take?

From decision to invested — realistic timelines

Account opening
Same day — 1 business day
For all residents. KYC approval is typically same-day for clean applications.
LRS transfer · India
2–5 business days
Depending on your bank's LRS processing time. HDFC and ICICI typically 2–3 days.
Direct wire · GCC
1–3 business days
Standard international SWIFT transfer. UAE banks are typically fastest.
Portfolio investment
Same day funds clear
Investment is made the same business day your funds are confirmed in DriveWealth.
Typical total — India residents
5–8 days
From opening your Stockal account to your first portfolio position appearing in your dashboard.
GCC residents: typically 3–5 days total
Tax note — India residents

TCS (Tax Collected at Source) applies at the point of LRS remittance. This is not an additional tax — it is an advance credit against your annual tax liability, claimable when you file your ITR. For detailed guidance on LRS taxation and US equity reporting requirements, see our India investor guide →

Before you invest

We recognise that a US $25,000 investment decision warrants a conversation, not just a web page. If you would like to speak with the team before opening your account — to discuss which portfolio suits your situation, how to structure an allocation across both, or simply to verify that this is the right fit — we are available.

Speak with the team → Open account directly

The people behind ShiftAlt Capital

Decades of institutional experience.
Aligned with your interests.

Our team combines CXO-level leadership across banking, asset management, and technology with deep quantitative portfolio management expertise — all personally invested in the same strategies we manage for clients.

Anurag Bhatnagar
Co-Founder & Portfolio Director

Anurag Bhatnagar

CA · 30+ Years Leadership

Chartered Accountant with over 30 years of CXO-level leadership across banking, investments and insurance. Was part of HDFC Mutual Fund's founding team, led Wealth Management at Citigroup, and managed public portfolios for ULIPs at New York Life. His institutional experience across full market cycles shapes ShiftAlt Capital's risk-first portfolio architecture. Personally invested in the same strategies he builds for clients.

Citigroup HDFC AMC New York Life IL&FS A.F. Ferguson
Himanshu Verma
Co-Founder & Business Director

Himanshu Verma

CA · Ex-SVP Cognizant

Chartered Accountant and former Senior Vice President at Cognizant, where he led the Digital business unit serving clients including Alphabet, Microsoft, Meta, Apple and Stripe. Now serves on the boards of several companies while building ShiftAlt Capital. A keen investor himself, he brings a technology operator's lens to wealth building — and is passionate about helping fellow HNIs navigate the path to US market exposure.

Cognizant Board Director Digital Business
Shashikant Burnwal
Portfolio Management

Shashikant Burnwal

IIT Kharagpur · ISB MBA · SEBI-Certified PM

Leads deep-sector research and portfolio management at ShiftAlt Capital. Combines fundamental analysis with macro insights to identify high-quality businesses with long-term compounding potential. Builds diversified portfolios with a strong emphasis on quantitative risk management. His SEBI certification and ISB finance background ground the firm's systematic, rules-based investment process.

IIT Kharagpur ISB MBA Finance SEBI Certified

Speak with the team

We believe that a US $25,000 investment decision warrants a conversation. Speak directly with the team — to verify the fit, understand the process, or simply ask the questions a web page cannot answer.

Speak with us → Open account directly

Frequently asked questions

Questions we hear.
Answered plainly.

We believe informed investors make better investors. Below are the questions asked most often — on compliance, process, safety, transfers, and tax. If yours isn't here, speak with the team directly.

01 Why should I invest in portfolios of global businesses listed in the USA?

There are a number of reasons, but here are the top five:

  1. Largest & Most Innovative Market: The U.S. stock market is 6× bigger than India's, home to the most innovative businesses in the world — offering unmatched growth potential.
  2. Invest in Brands You Already Trust: Tech businesses that dominate globally — Google, Microsoft, Meta, AWS, Apple and many more — are all listed and accessible.
  3. Innovation-Driven Returns: Most good US businesses represent tomorrow's economy. The returns from innovation are structurally superior to returns on today's businesses.
  4. Make the US Dollar Work for You: A rising US dollar adds a structural currency tailwind to your returns. The rupee has depreciated against the dollar over every significant time horizon.
  5. Insurance: Your money and securities are insured up to US $500,000 (approx. ₹4.30 crore) under SIPC.
02 What are the specific benefits of investing in ShiftAltCap's global portfolios?

By choosing to invest in either or both our portfolios, you gain 7 distinct benefits:

  1. Full Control: At all times, you retain direct control over your money and securities.
  2. Zero Lock-in: Withdraw anytime with full liquidity — no exit fee, no lock-in period.
  3. Easy to Operate: Single-click investing and withdrawal through the Stockal dashboard.
  4. Currency Advantage: Make the US Dollar work for you as a structural hedge.
  5. No-Hassle Rebalancing: Quarterly rebalancing happens automatically — you are notified, nothing is required from you.
  6. Fully Compliant: With regulations of both India (RBI/LRS) and the USA (SEC/FINRA).
  7. Insured: Your money and securities are protected under SIPC up to US $500,000.
01 Are these portfolios regulated and compliant with Indian and US laws?

Yes. The offering is compliant with both Indian and US regulations:

  1. India — RBI Liberalised Remittance Scheme (LRS): The RBI explicitly allows resident Indian citizens to invest in listed securities on global exchanges. Current annual limit: up to US $250,000 (approx. ₹2.15 crore) per person per year.
  2. USA — SEC & FINRA Registered: All holdings in both portfolios are listed on the New York Stock Exchange. Our broker and custodian is DriveWealth, registered with the Securities Exchange Commission (SEC) and governed by FINRA.
Your money account is held with JP Morgan Chase Bank — governed by the US Federal Reserve.
02 How safe is the platform?

The platform is secured with 256-bit encryption — a higher standard than most banking platforms. The platform is owned by Stockal (Borderless Softtech Pvt Ltd), and ShiftAltCap has partnered with Stockal to execute transactions through DriveWealth, a broker registered with the SEC in the USA.

Think of Stockal as a regulated digital bridge that enables citizens of one country to access and invest in markets of another in a fully compliant manner.

256-bit encryption · DriveWealth (SEC-registered) · SIPC insured up to US $500,000 · JP Morgan Chase custodian
01 What is the minimum and maximum investment size?

The minimum investment is US $25,000 per portfolio strategy. This ensures your allocation is large enough to be meaningfully diversified across the positions that make up each portfolio.

The maximum investment is US $250,000 (approx. ₹2.15 crore) per person per year — this is the RBI's Liberalised Remittance Scheme (LRS) annual limit for resident Indian investors. GCC investors may have different limits based on their local regulations.

Minimum: US $25,000 per strategy  ·  Maximum: US $250,000 per year (RBI LRS limit)
02 After opening my account, how do I transfer money to my US account?

The RBI mandates that all international transfers from India be made via Form A2 — a standard form that all banks follow.

Six banks have fully digitised this process and allow you to complete the transfer from your laptop:

  • HDFC Bank
  • ICICI Bank
  • Kotak Mahindra Bank
  • IndusInd Bank
  • IDFC First Bank
  • Yes Bank

If you bank elsewhere, you will need to visit your branch and complete the Form A2 process on paper. In either case, funds are credited to your US-based JP Morgan Chase account within 1–2 working days.

01 How will I be taxed on my US portfolio investments?

We recommend consulting your tax advisor for your specific situation, but here is a general overview:

  1. Residential Status Matters: Taxation differs for Resident Indians and Non-Resident Indians (NRIs).
  2. DTAA Protection: India and the USA have signed a Double Tax Avoidance Agreement (DTAA) — ensuring you are taxed in only one country, not both.
  3. Two Sources of Taxable Income:
    • Capital Gains (when you sell): Not taxed in the USA. Taxed in India as per Indian capital gains laws.
    • Dividends / Interest: Subject to 10–25% tax deducted at source (TDS) in the USA. This can be claimed as an offset against your regular tax liability in India when you file your ITR.
Capital gains: taxed in India only. Dividends: TDS in USA, claimable as credit in India via DTAA.
02 How do I claim the tax deduction benefit? What documents will I receive?

When you open your account, you pay a one-time fee of US $5 to obtain a W-8BEN form. This is a form mandated by the IRS (Internal Revenue Service) of the USA to identify non-US investors — it establishes your foreign status and entitles you to the reduced withholding rates under the India–USA DTAA.

When filing your Indian tax return, you (or your CA) will need this W-8BEN along with the annual account statement from DriveWealth showing dividends received and tax withheld in the USA. You can claim the US tax withheld as a foreign tax credit offset in your Indian ITR.

One-time: US $5 for W-8BEN · Annual: DriveWealth account statement · Claim TDS offset via Form 67 in your Indian ITR

Still have questions?

We'd rather answer you
directly.

A conversation is worth more than a FAQ page. Reach out to the team before you invest — we are available to discuss fit, structure, and any question a web page cannot fully answer.

Speak with the team → Open account directly