The best ways to beat the stupid FEMA rule
1. THE BEST WAY : Open a joint account with a relative living abroad he/she funds the account you trade he withdraws gets the money taxed in his country and send it to you and india has double tax treaty with almost all countries :clap::thumb:
2. 2nd BEST WAY : Ask a relative abroad to fund your account
3. 3rd BEST WAY : Don't know if this is legal or not but you can open a offshore bank account and send your money there and then from then you can deposit it in your trading acc. But what about tax on profits what do you tell the govt about the source of income when you bring back the money.
4. Fantasy Way : live like a secret agent open a bank account that enforces strict secrecy law and use that account to both fund and withdraw to and from the forex trading acc. Evade taxes or withdraw a little amount OR use some of the money by withdrawing under tax limits to avoid suspicion and then immigrate to the country you have opened the account in and screw the indian govt.
As of me i am currently following method no 1 and have withdrawn funds in excess of $25000 this month and soon will be moving to US for advance studies and then probably get a job in the us so screw RBI and indian govt if they don't want tax on forex income
Stupid F.ucking politicians can kiss my brown a$$:rofl:
1. THE BEST WAY : Open a joint account with a relative living abroad he/she funds the account you trade he withdraws gets the money taxed in his country and send it to you and india has double tax treaty with almost all countries :clap::thumb:
2. 2nd BEST WAY : Ask a relative abroad to fund your account
3. 3rd BEST WAY : Don't know if this is legal or not but you can open a offshore bank account and send your money there and then from then you can deposit it in your trading acc. But what about tax on profits what do you tell the govt about the source of income when you bring back the money.
4. Fantasy Way : live like a secret agent open a bank account that enforces strict secrecy law and use that account to both fund and withdraw to and from the forex trading acc. Evade taxes or withdraw a little amount OR use some of the money by withdrawing under tax limits to avoid suspicion and then immigrate to the country you have opened the account in and screw the indian govt.
As of me i am currently following method no 1 and have withdrawn funds in excess of $25000 this month and soon will be moving to US for advance studies and then probably get a job in the us so screw RBI and indian govt if they don't want tax on forex income
Stupid F.ucking politicians can kiss my brown a$$:rofl: