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kingrc26081993
15
kingrc26081993 2016.04.02 07:34 
Hi 

 i live in India from birth. I have opened  a International Bank account in London and especially for the Purpose of Forex Trading. My friend Deposited his money there who lives there as uk citizen.

And I started doing trading from India but my all transaction places in uk and their bank. 

 

I want to know  where will i have to pay taxes on my income India or Uk?

 

If i transfer money in inda, then i have to pay tax again?

 

please solve my problem
whroeder1
13644
whroeder1 2016.04.02 11:57  
kingrc26081993: please solve my problem
This forum is about MT4 and trading; you are off topic. It is not a legal advice forum; we're not going to give you legal advice.
Ovo Cz
2953
Ovo Cz 2016.04.02 12:55  
WHRoeder:
kingrc26081993: please solve my problem
This forum is about MT4 and trading; you are off topic. It is not a legal advice forum; we're not going to give you legal advice.

Well, it is kinda related to trading.  Usually, the tax is payable in the country where the subject of the tax resides more than a half of the year.

whroeder1
13644
whroeder1 2016.04.02 18:42  
Ovo: Well, it is kinda related to trading. Usually, the tax is payable in the country where the subject of the tax resides more than a half of the year.

  1. Tax laws related to trading, are not related to trading. They are related to legal issues. And no on here is qualified to answer.
  2. My understanding is that it is illegal for Indians to trade FX. He is asking how to handle an illegal act through a strawman.
Ovo Cz
2953
Ovo Cz 2016.04.02 21:47  

I see. Then the problem is not the tax.

kingrc26081993
15
kingrc26081993 2016.04.03 02:08  
WHRoeder:
  1. Tax laws related to trading, are not related to trading. They are related to legal issues. And no on here is qualified to answer.
  2. My understanding is that it is illegal for Indians to trade FX. He is asking how to handle an illegal act through a strawman.

First of all Trading is illegal in international forex if you deposit money in indian currency and converted it to other like USD,EUR for trading account.
Here law doesn't say u can't trade.It says only u cant use Indian currency for trading online that earned in india .
Here I am not doing anything like that.
That money is  from friend who lives there and i have international account in UK bank.
So what wrong??
Ovo Cz
2953
Ovo Cz 2016.04.03 05:17  
kingrc26081993:

First of all Trading is illegal in international forex if you deposit money in indian currency and converted it to other like USD,EUR for trading account.
Here law doesn't say u can't trade.It says only u cant use Indian currency for trading online that earned in india .
Here I am not doing anything like that.
That money is  from friend who lives there and i have international account in UK bank.
So what wrong??

OK, then you do NOT pay taxes in Britain, but rather in India (unless you founded the Ltd. for you in Britain).

whroeder1
13644
whroeder1 2016.04.03 13:13  
kingrc26081993: So what wrong??
We are not tax experts, we are not law experts. Your question is off topic (it's not a MT4/trading question.)
Fernando Carreiro
1528
Fernando Carreiro 2016.04.05 12:21  
@kingrc26081993: I suggest you contact your Broker, as well as your own Bank and also your local government's tax/finance department (or what ever it is called there) for information about this. As WHRoeder explained, this is not the place to do that!
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