Forex profit withdrawal into NRE account

Hello to all. ''Its always good to be home''.
I am an NRI. When living abroad,there was no problem in withdrawing (or depositing) money from any broker,located anywhere in the world.

Now when i am in India,i decided to use my NRE account for my trading activities.
As NRE account needs to be funded from abroad,i was sure that there would be no problem in withdrawing my profits. But i wanted to confirm.So i contacted my bank(a nationalized one) and the person over there,started telling me many things including the fact that 3rd party remittances are allowed to the NRE accounts ONLY when the account holder is pre-informing the bank about such a remittance.Moreover,he was stressing on the legal issues. This all made me feel that this all can be full of hassle.

So,here i request those NRI traders who have received their profits successfully from offshore brokers to their NRE accounts to please Share your experiences please.Did you guys face any problem in doing the same?


Thanks.

Just wondering if anyone can share some experience on this topic...


TIA

Is it possible not receive and withdraw from paypal account ?

You can use Paypal to receive funds. However, RBI guidelines on Paypal makes it harder to receive larger chunk of money using this electronic payment media.

If you are rendering IT services, you are most likely to receive funds in your paypal account and it when you transfer it to your bank you need to show them in your tax returns.