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  • hello abhishek,

    I read your post in the thread that said, "Attention! Forex trading illegal in india".

    I am from India too. I am considering forex trading and was looking around to understand the legal position before I open an acocunt with a foreign broker. I see you have an account and are doing this activity for the last few years. I had a few concerns on which I seek your guidance:

    1) did u need permission from RBI or any other govt. agency to remit the money?
    2) what procedure is adopted to remit money abroad for this purpose?
    3) you may have tried out a few brokers. which ones are you working with? wud u recommend them as honest and safe to work with?
    4) how do you show the income from forex trading in your Income Tax returns?
    5) do u need to do tax audit for the purpose of income tax?
    6) any other matters that I should know about..

    Thank you in advance for an early reply.
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