How to trade forex from india

[srtrader]

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:

I am planning to use option 1.

1. Send money to my friend India account.
2. Open forex account in his name and he will fund the account from his foreign account.
3. Withdraw profit to his foreign account.
4. Transfer money to my India account.

Please let me know if i can pay income tax on this amount in India quoting as other business income (like freelancing, consulting etc)?

 

[Obelixtrader]

I am planning to use option 1.

1. Send money to my friend India account.
2. Open forex account in his name and he will fund the account from his foreign account.
3. Withdraw profit to his foreign account.
4. Transfer money to my India account.

Please let me know if i can pay income tax on this amount in India quoting as other business income (like freelancing, consulting etc)?

RBI has alloved to trade EUR-USD,GBP-USD and USD-JPY as a futures contract. This contracts will be offered by your exchanges. You must wait when your exchanges make announcment.