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keziah gundampati   15 August 2021

How is Income from forex trading taxable in India

If suppose a person from other country(not an NRI)  takes money from me and he invests in his forex account and does forex trading and gives me 50% of the profit earned. He sends me this money via third party payment systems like PayPal .

So how is income taxed in India ?

Also if I do forex trading with this amount will it be legal  ?

 



 2 Replies

Mohd. Nadeem Khan

Mohd. Nadeem Khan (AAO)     15 August 2021

When a person has borrowed from you...it is a loan...

so profit returned by him will be in the nature of interest income...so will be taxable as income from other sources..

forex trading is legal...and comes under speculative business
keziah gundampati

keziah gundampati   15 August 2021

Sir, are you saying that I can directly upload my money into a forex account via third party payment system and this would be legal 

Or you're saying that the money I received from that person and I deposit that money into my forex account and trade,this is legal ?

Which one of the two is legal 

As far as I know in India its illegal to trade in forex from our own money ,after that I have no knowledge sir please guide me

 

 

 

 


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