Trading in India

Ok! I was just wondering…

Yes the economical conditions of Indian Government has effected the trading in india. But this is all for few months. Fall in markets frequently no body can understand. There many funds behind it.

The reason behind the fall in the market is. The money which the government is using is of all big companies. As these companies need money for production or any work they just sell out their shares so this shows a huge down fall in the market. As their requirement is over they again bring a buying pressure in the market.

Bros...Don't take a narrower view on currencies ...anyway i have come to realize it later but still lot of steam left.

Just take an "upside-down" view of the markets...Its the end of the world as we know it and a beginning of the new world.

Do not think market will ever come back....it will NEVER......everything will change..west is writing new rules for the game that will suit them.


Look at rupee its 50 now and soon will go 60 or 70 who knows..just for the sake of markets...RBI and government is hell bent of killing the rupee.

what happened to decent school education, enrolling in medical college or engineering, how about putting money on medical research that will cure disease or uplift the real human standard or living.

This gambling of BSE must stop.

All news channels are hell bent on diverting the real causes in India and as if BSE is the oxygen of India masses.

BAN the stock market and the sanity will return to Indian minds.

lol , i came here to ask about currency trading from india ,
1.which bank do u use to transfer fund overseas ?
2.is there any limit for exchanging rupees to dollars n vice versa ...

anyway ur post is a lil too negative ...
market will always be there , if not in this form ,some other form , as long as demand n supply is there market is there ...
and decent education is always there , research is all over the place, institution like iit n iisc creates something new even as we speak right ...
its all a part of free economy , the bad thing , there is always down period as there is an up period...
the good thing ... it always recover by itself ...

Hello all!
Good to see you all after the vacation !
Belated HAPPY DIWALI!

HERE I AM READY TO GO ON!
DOUBLE TOP ON eur/JPY
LYING ON TRENDLINE
GOOD TO SHORT WITH STOP LOSS ABOVE THE TOP
AND GOOD TO LONG ON THE BREAK OF THE DOUBLE TOP

hmmmm, where has everyone vanished

Still here guruji

i AM HERE TOO BRO!

In a hard drive crash I lost the code for this indicator given in this chart
http://www.forexfactory.com/showpost.php?p=2289247&postcount=258

and now i am having a tough time designing it back, i just do not remember what i did

I am here my friend.

LOL Lion, you did it once, you can do it again Design it i mean, not lose it again

i'm here...........pls post more

Im here too..

i am looking for programmer of mt4 to make for me an expert any one?

Guys its finally been confirmed OTC overseas fx trading is illegal for resident Indians who are citizens. If you're a citizen but have nri status then its not illegal to trade forex in India PROVIDED you fund your account from an overseas bank account and not directly to your broker via outward remittance from India. However if you are a citizen it is illegal and is a non bailable offense.

Just because some of you have been trading paltry amounts and paying STCG tax don't for a second think its legal. What has happened is the income tax department has overlooked your individual case. The IT dept is overworked and understaffed they are literally flooded with lakhs upon lakhs of IT returns they don't even have physical room to store the paper work and have had to lease godowns for this purpose.

They do scrutinize large returns of a few crores somewhat but for smaller returns they hardly bother as they haven't the time nor the man power nevertheless they do randomly select a certain number of people distributed over different areas and examine the returns and if any discrepancy is found they do send them a notice demanding very detailed financial information. (told to me by the A/O)

This is how even small fries occasionally get caught. There are many or in fact the majority get away and think what they're doing is perfectly legal but they're simply bluffing themselves.

There's alway a chance of getting caught and once your income runs into crores the chances increase of your returns being scrutinized.

I've spoken to an A/O (assessing officer - UPSC officer) and she wasn't very sure as fx trading is quite a new concept in India but she clarified with the deputy commisioner who had some knowledge of the process of fx trading and confirmed it is indeed illegal.

Further more IB has taken a great deal of effort in finding out the exact rules by clarifying with the Indian govt.

I'm quoting them


So guys no matter how long you've been trading and paying taxes you've just been lucky for not getting caught. If you think you've read the rules and find no clear guidelines or have found loopholes you're basically living in a fool's paradise.

I know its a b.s senseless rule but law is the law, and if you ever get caught you'll be in very big trouble so please take care.

Remember in the end it doesn't matter what you think is your interpretation what matters is the interpretation of the a/o and the IT department.

I confirmed this with the forex head of a nationalized bank who basically said the same thing but I still though it was incorrect and I was smarter than him but recently I came to know of a senior A/O who confirmed what I dreaded all along and refused to except from the asst commissioner himself which is it is indeed illegal at this time.

I know I'm going to get replies like "the commisioner himself dosen't know but I do and its legal etc etc" or some such ridiculous reply so I won't argue, so I'll just say take care friends.

Fly to Dubai and open a Dubai bank account. No taxes in Dubai and no restrictions. then u can safely legally transfer fund into Indian bank.....just an idea

Just slip the cop that comes to arrest you 500 USD and he will be on his merry way.

i'm doing tht hehe!!!! but @ the end of the day im an NRI guys

i am also from india lets.. rock !

Sir,

I am from india

I am interested in ur training

pls pm me on [email protected]

regards,

vasudevan