Are forex trading profits taxable?
I made some profit this year and I am not sure how it is treated for tax. Where do I start?
For education only. This is not financial advice. Trading carries a high risk of loss.
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1 Answer
Best answer
Tax rules depend on your country and on how your income is classified, so there is no single answer. In many countries trading profits are taxable, and losses may or may not be deductible.
In India, retail forex trading is also restricted under foreign exchange rules: residents are generally allowed to trade only in rupee pairs (such as USDINR) on recognised Indian exchanges, and the RBI has warned the public about unauthorised foreign platforms.
Rules change, so speak to a qualified chartered accountant or tax professional, and keep full records of your trades. This is general information, not tax advice.
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