We all know that remitting money from your Indian Bank account to any foreign bank account for margin based trading (Forex Trading) is not allowed according to RBI guidelines.
Still lots of Indians do that.
My question is if somehow you deposit money (Showing investment purpose /using S0001) in your forex account abroad, trade forex and make money, how do you get it back from your forex account to your Indian Bank account.
Obviously your Indian Bank would ask where the fund is coming from. If you say that you made money by investing in stocks abroad, will they stop there or they will further enquire to confirm whether it was really an investment or just trading (Which in prohibited).
Any kind of explanation here is appreciated.
AJ
Still lots of Indians do that.
My question is if somehow you deposit money (Showing investment purpose /using S0001) in your forex account abroad, trade forex and make money, how do you get it back from your forex account to your Indian Bank account.
Obviously your Indian Bank would ask where the fund is coming from. If you say that you made money by investing in stocks abroad, will they stop there or they will further enquire to confirm whether it was really an investment or just trading (Which in prohibited).
Any kind of explanation here is appreciated.
AJ