Forex Investments Company
Is Indian Govt permission required to trade in currency.?
Do I need permission from Indian Govt to send $ 1000 - $ 2000 U.S. for trade foreign exchange (forex), if so from where and how to get it? And if the investments and benefits brought to India do I have to pay any tax, if so, who and how much tax? In a few words what Indian law says that if a citizen wants to send funds to the U.S. company to trade Forex and brings profits to win.
I'm trading in the Forex market in India with http://www.finexo.com/, a business partner of Saxo Bank Denmark, based in Düsseldorf, Germany with large U.S. currency and never encountered any problem. Whatever i gain is credited to my bank account in India through the trade account Finexo. The tax is deducted at source and when the profit is repatriated here the government of India is clear.
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