Am i liable to pay any spl tax when trading with money I got from foreign?



Am i liable to pay any spl tax(in addition to income tax) when trading with money I got from foreign?
People with similar situations, please suggest.
How will i come into the category of NRI when I am not out of the country
I didnt mention that the source I get money from is not a relative, but friend…will there be any prob?

Am i liable to pay any spl tax when trading with money I got from foreign?
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4 Replies to “Am i liable to pay any spl tax when trading with money I got from foreign?”


  1. I think you should go the the internal revenue site and check the FAQ section for a similar question. You should find an answer there, I think that the limit on importing foreign currency is $ 5000.00. www dot IRS dot gov.


  2. yes u coming the category under NRI, but live more than 185 days in foreign it’s come under NRI category, other ways it’s come under India’n income tax. any why PLEASE CONSULT THE CHARTERED ACCOUNTANT


  3. If your status is Resident Indian (Not NRI) or NRI, you have to pay income tax only on the income you earned with the foreign money and no need to pay any special tax for the money you got from foreign. With the foreign money you can do anything you like. You can do business or buy shares or buy properties. But when you earn any income out of your investment, then you need to pay tax on the gains only. The only thing is that you should have sufficient proof for that foreign money.





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