Attention! - Forex trading is illegal in India!

[Sunny1]

More ad hominem! So typical of the uninformed!

It was economically uninformed people like you who had said back in the 90s that deregulation & privatization will kill India as foreign companies & products outcompete Indian ones & private businesses will raise prices so much that poverty will increase, etc etc but the opposite has occurred, foreign competition raised local standards & improved resource-allocation within the economy & increased availability of real wealth aka goods & services, & people's living standards.
It was people like you believed that "evil speculators" & not supply & demand that causes commodity-prices to rise & because of such people, India didn't have a functioning commodity market for hedging & price-discovery; now that it's been allowed to work, it's one of the largest markets in the world.
Index & stock futures were restricted back then, now India's stock-futures market is one the largest.

And now the same old "protective" rhetoric being thrown around against floating INR, without an iota of understanding of basic economics!

Don't try to think for yourself, keep believing the government because as we know, governments are always full of honest & trustworthy people :thumb:

I think you need to think more on this .

At the time of 90...when Indira and Rajive were trying to put India on self sustaining economy rather than foreign dependent....

foreign companies and govt...started funding strikes , riot, protest...violence and what not..

now those same company do the business in India freely...

India could progressed far far more without deregulation & privatization.

foreign competition has not raised local standards and people's living standards. it is companies formed by govt in 90's which sustaining india.. each and every company setup by indira and rajive are worth thousand and lacs of crores...which govt is selling now..

India progressed because base was created during pre 90's...not because foriegn companies...

 

[SexyTrader]

All said and done But the doubling & tripling through Forex is already on....

And the only way to get the profits is to take the help of a friend/relative abroad and then let them remit it to us as a personal transfer :thumb:

This is easy...and no problems with our law! Play safe and play nice :thumb:

 

[ethan hunt]

All said and done But the doubling & tripling through Forex is already on....

And the only way to get the profits is to take the help of a friend/relative abroad and then let them remit it to us as a personal transfer :thumb:

This is easy...and no problems with our law! Play safe and play nice :thumb:

ya, freind pays 30-40% tax abroad then you pay 30% tax in india

100 pr becomes 49 by the time you get it

 

[SexyTrader]

ya, freind pays 30-40% tax abroad then you pay 30% tax in india

100 pr becomes 49 by the time you get it

Nope....the tax treaty comes handy to save that :thumb:

 

[sabariraj18]

should NRI pay tax for earning with US forex internet brokers wen we take the money to India?

 

[SexyTrader]

should NRI pay tax for earning with US forex internet brokers wen we take the money to India?

Not sure, but I guess so....:thumb:

 

[topaz790]

should NRI pay tax for earning with US forex internet brokers wen we take the money to India?

Being an NRI, anything you earned outside India is non-taxable.

Regs

 

[Blu]

Forex trading illegal in INDIA?

I was unaware of this. Thanks members for bringing this up. Kudos


With You
Blu

 

[sabariraj18]

Being an NRI, anything you earned outside India is non-taxable.

Regs

mate my case goes like this

I trade thru my NRI frnd's forex account. how wud i get taxed when my frnds sents me from his bank account abroad.. Should my friend pay taxes to India,( since he doesnt have to pay it in his residential country)?. Should he disclose this info to Indian govt necessarily? How much taxes i wud pay wen i recieve the money? please note my frnd is not moving the money to his Indian bank account, hes just transferring it to my account. If both of us have to pay, it means double taxation and i wud get only 50% of funds after taxes. Does any tax treaty works in my case?

 

[fxgood]

mate my case goes like this

I trade thru my NRI frnd's forex account. how wud i get taxed when my frnds sents me from his bank account abroad.. Should my friend pay taxes to India,( since he doesnt have to pay it in his residential country)?. Should he disclose this info to Indian govt necessarily? How much taxes i wud pay wen i recieve the money? please note my frnd is not moving the money to his Indian bank account, hes just transferring it to my account. If both of us have to pay, it means double taxation and i wud get only 50% of funds after taxes. Does any tax treaty works in my case?

This is another easy legal option to trade forex peacefully and can you tell were is your friend based and NRIs don't have to pay taxes in India for their incomes they are generating from abroad