EURUSD currency trading

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13 Points Posted on 19 November 2021

Sir iam trading in forex   on EURUSD currency pair with international brokers iam gained 120000 USD once I withdraw this income to my bank account how can I pay tax in india and which ITR can I file for this income 

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On 19 November 2021 at 18:06 Report
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Quick Summary
If you've earned income from trading EURUSD with international brokers and are a Resident and Ordinarily Resident (ROR) in India, you'll need to file ITR3. Your forex income should be declared under the Profits and Gains from Business or Profession (PGBP) head. Importantly, you can claim a rebate for any taxes already paid in the foreign country where the income was earned.

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SEO Sai Gr. Hosp.
212572 Points Posted on 19 November 2021

Provided you are ROR, you need to file ITR3 with the income declared under PGBP head.

You can claim rebate for the tax paid in foreign country.

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On 19 November 2021 at 19:12
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Chartered Accountant
24588 Points Posted on 19 November 2021
File ITR 3
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On 19 November 2021 at 19:36

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