This seems to be okay(not sure)…if u scroll up, there’s an answer by @abbanerjee where he said something to this effect.
My opinion: Your WOS engaged in providing hosting services will need to generate a significant portion of income from its primary activity of hosting etc for it to be classified as such. Otherwise it’ll be treated as a front for carrying out financial speculation.
As per what @abbanerjee said, there’s no need to beat around the bush, one can openly set up an investment firm and buy shares of the same and then use money so invested to trade Eminis etc.
So if I go to US for a couple of months and work there make some money, I can use it to trade. Am I correct? Or do I have to wait for a year to get NRI status?
There need not be any reason as to why a friend is sending you regular monthly payments. You’d be taxed twice though. Once by the country your friend is resident of and then by our own(gift tax)
But he is not telling what the process is. Also, I am not very comfortable revealing my identity on an online forum So I really cannot connect with him personally.
So if I operate his account do I need advisory license or will it attract any legal problems? because somebody said still it will be counted as I’m investing in foreign is that true?when I’m not sending any money but only receiving
You would obviously have to meet up with him otherwise how’s it possible. Many have enquired about the process but it seems he wants to ensure he gets compensated, which is fair i suppose… don’t reveal ur identity on the forum…pm him
No you don’t need anything because no one will know you are the one that’s actually placing trades. As long as you aren’t pooling funds from several people etc, there’s no issues. Better to show it as income from software consulting services etc
Thanks for the reply Vivek ji but do we need to show that software consulting?where do you need to mention as we receive it as gift I think there will not be any question regarding that am I right?
Hi @HFT, Can you let me know how to trade derivatives in US from India?
Also, is it allowed to trade derivatives with the money earned as an employee in US/UK/Canada as we are not remitting any funds from India? I think this doesn’t fall under LRS.