trading and tax
3 years ago
is forex trading legal in India?
if legal, how to pay taxes on the trades I make
if illegal, what is the punishment?
stock
A.I have gone through your query in detail.
YES, forex trading legal in India. But, I strongly recommend please DONOT go into MCX or FOREX TRADING/ STOCKS- INTRA DAY ETC. As in the starting the Agent will show that you are winning & earning daily in thousands. But when you will invest in lakhs the profits will slowly decline. Also I have more than 87 clients who have lost their lakhs of Money in this STOCK MARKET & have filed civil cases against the Stock Brokers/ individual who had given personal bond of undertaking of their amounts. Many of my clients have come from FLAT TO CHAWL. Instead if you want to invest in something we have more options for the same. Given below is a small story for your insight. The rest depends on you & your hard earned money.
Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for Rs.100/- each. The villagers were ecstatic since there were tons of monkeys in the nearby forest.
The villagers, sensing this unique opportunity, went out to the forest and started catching the monkeys with ease. The man bought thousands at Rs.100/- and as supply started to diminish, the villagers stopped their effort.
After a month, he further announced that he would now buy at Rs.200/-. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms.
The offer increased to Rs.250/- each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!
The man (Boss) now announced that he would buy monkeys at Rs.500/-. However, since he had to go to the city on some business, his assistant would now buy on behalf of him.
In the absence of the man (Boss), the assistant told the villagers & investors ;
“ that he got a call from the man (Boss), & he had requirement of more Monkeys & will now buy at Rs.1,000/- each when he comes back”
“Look at all these monkeys in the big cage that the man (Boss), has collected. I will sell them to you at Rs.500/- each and when the man (Boss), returns from the city, you can sell them to him for Rs.1,000/- each.”
The villagers rounded up with all their savings, took heavy loans and bought all the monkeys return at Rs.500/- each . Then they never saw the man nor his assistant, only monkeys everywhere!
The monkeys had to let out and they went back to the forest. The villagers were left high and dry and they lost complete trust in life. They had huge loans to pay and they had absolutely no idea how meticulously they got trapped.
Now, please remember friends.. Greed can take you for a ride. Think about this story...which is applied by the Investment so called “Experts”.
It made a lot of people Bankrupt and a few filthy people rich in this monkey business
IF STOCK MARKET EXPERTS WERE SO EXPERT, THEY WOULD BE BUYING STOCKS, NOT SELLING ADVISE.
But this is the reality.. ….
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Hope this information is useful
ADV. ANISH PALKAR (High Court)
YES, forex trading legal in India. But, I strongly recommend please DONOT go into MCX or FOREX TRADING/ STOCKS- INTRA DAY ETC. As in the starting the Agent will show that you are winning & earning daily in thousands. But when you will invest in lakhs the profits will slowly decline. Also I have more than 87 clients who have lost their lakhs of Money in this STOCK MARKET & have filed civil cases against the Stock Brokers/ individual who had given personal bond of undertaking of their amounts. Many of my clients have come from FLAT TO CHAWL. Instead if you want to invest in something we have more options for the same. Given below is a small story for your insight. The rest depends on you & your hard earned money.
Once upon a time in a village, a man appeared and announced to the villagers that he would buy monkeys for Rs.100/- each. The villagers were ecstatic since there were tons of monkeys in the nearby forest.
The villagers, sensing this unique opportunity, went out to the forest and started catching the monkeys with ease. The man bought thousands at Rs.100/- and as supply started to diminish, the villagers stopped their effort.
After a month, he further announced that he would now buy at Rs.200/-. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms.
The offer increased to Rs.250/- each and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!
The man (Boss) now announced that he would buy monkeys at Rs.500/-. However, since he had to go to the city on some business, his assistant would now buy on behalf of him.
In the absence of the man (Boss), the assistant told the villagers & investors ;
“ that he got a call from the man (Boss), & he had requirement of more Monkeys & will now buy at Rs.1,000/- each when he comes back”
“Look at all these monkeys in the big cage that the man (Boss), has collected. I will sell them to you at Rs.500/- each and when the man (Boss), returns from the city, you can sell them to him for Rs.1,000/- each.”
The villagers rounded up with all their savings, took heavy loans and bought all the monkeys return at Rs.500/- each . Then they never saw the man nor his assistant, only monkeys everywhere!
The monkeys had to let out and they went back to the forest. The villagers were left high and dry and they lost complete trust in life. They had huge loans to pay and they had absolutely no idea how meticulously they got trapped.
Now, please remember friends.. Greed can take you for a ride. Think about this story...which is applied by the Investment so called “Experts”.
It made a lot of people Bankrupt and a few filthy people rich in this monkey business
IF STOCK MARKET EXPERTS WERE SO EXPERT, THEY WOULD BE BUYING STOCKS, NOT SELLING ADVISE.
But this is the reality.. ….
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Hope this information is useful
ADV. ANISH PALKAR (High Court)
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