India book
Valura's IFSCA-regulated global-investing product for Indian residents. US equities via LRS, custody at ViewTrade IFSC (USD), funding via GlomoPay (INR → USD).
What makes India different from UAE
- Two funding sources for one deposit. The customer's INR arrives via GlomoPay, converts to USD, then lands at ViewTrade. Same money, two ledger views — see Two-source model.
- INR-side tax exposure. LRS annual cap ($250k / PAN / FY), TCS threshold (₹7L), STCG / LTCG on US equities, DTAA foreign-tax-credit on US dividends, Schedule FA foreign-asset reporting.
- New revenue line: FX spread. Valura earns a spread on the INR-to-USD conversion. This is India's main revenue driver.
- New payable: ViewTrade. Valura owes ViewTrade its brokerage cost per trade (see Brokerage economics).
What's the same as UAE
- Same double-entry engine.
- Same posting rules for shared event types (deposits, trades, dividends, reversals).
- Same reconciliation framework.
- Same frontend, with a book toggle.
The India reports
Grouped by intent:
- Tax & compliance
- Capital gains (STCG/LTCG, FIFO)
- Dividends + NRA withholding (DTAA credit)
- LRS + TCS (per-PAN, per-FY)
- Schedule FA (year-end foreign-asset statement)
- Valuation
- NAV / mark-to-market
- Share-count reconciliation
- LRS ↔ ViewTrade tie-out
- Ops & revenue
- Remittance exceptions (stuck / failed / RFI-pending)
- Settlement audit (lag + missing UTR + purpose codes)
- Broker-fee reconciliation (modeled vs actual)
- Refund / cancellation reversal
- FX margin (realized vs assumed)
Every one has a dedicated page in this section.