Is permission required from Indian Govt to trade in forex.?

Question

Is permission required from Indian Govt to send $1000-$2000 to U S for Currency trading (forex),

if yes from where and how to get it?

And if investments earn profit and brought back to India do i have to pay any tax,

if yes which tax and how much?

In short what Indian law says if a citizen wants to send funds to U S company to trade in Forex and brings back earned profits.

Answer 1

No.The R B I relaxes rules during 2007, permitting indian individuals to invest overseas companies without permission, upto a maximum limit.Need any more help regarding FOREX contact 9566117108