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Hi ashish, could u please tell us which brokerage ur using for forex trading and how did u mange to transfer the funds to your account.

thats why i think we should use one of our friends in US as a medium to transfer the amount. transfer the money to ur friend as a gift. ask him to transfer the funds to ur paypal...from their to ur broker...this way nothing will be illegal... any thoughts ??????

i think we should not be bothered by the tax issue. The government has not made the issue clear. we should bank on the opportunity.

Stumper, have a look at it... Frequently Asked Questions under the Liberalized Remittance Scheme Reserve Banks Response The Reserve Bank of India had announced a Liberalized Remittance Scheme (the Scheme) in February 2004 as a step towards further simplification and liberalization of the...

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friends, as per RBI regulations we resident individuals cannot remit the funds abroad to use as a margin amount. But can't this be done. 1.) Transfer the amount to your friend in USA as donation. (which is allowed) 2.) Tell him to transfer the amount to your Paypal account. 3.) use ur paypal...

can't this be done fellows: 1.) Transfer the amount to your friend in USA as donation. 2.) Tell him to transfer the amount to your Paypal account. 3.) use ur paypal account to transfer the funds with your broker. This way there is no need to use RBI's remittance abroad scheme.