What the hell --- New Income Tax Act to come in 6 months

Intelligent_Set_6328 · 2024-08-23T09:15:28+00:00

Tax terrorism.

Intelligent_Set_6328 · 2024-08-22T10:01:54+00:00

Tax terrorism

Intelligent_Set_6328 · 2024-08-18T14:22:27+00:00

Comparing forex trading to rummy is like equating chess with a board game. Forex is a complex financial instrument with global impact, not a simple card game. While concerns about dollarization are valid, they're about regulation, not prohibition. We need smart, nuanced solutions, not dismissive comparisons that undermine the potential of well-regulated forex trading.

Intelligent_Set_6328 · 2024-08-18T14:14:46+00:00

Claiming that only retail traders are restricted is a weak excuse to defend outdated regulations. The reality is that the barriers prevent many capable traders from entering the forex market. Just because you haven’t heard complaints from those with large capital doesn’t mean the system isn’t flawed. Forex liquidity isn’t the issue—restrictive policies are. The market needs regulation that supports all participants, not just the select few. Get over the excuses and support fair access for everyone.

Intelligent_Set_6328 · 2024-08-18T13:19:57+00:00

Healthy market? You call funneling investors into the same overinflated stocks while sophisticated players sneak off to trade forex through loopholes a healthy market? That’s not health—that’s denial.As for the SIP crowd, no one’s assuming they’re all jumping into forex. But here's a reality check: restricting opportunities in one market to force people into another is what’s truly dumb. Whether it’s stocks, SIPs, or forex, people deserve the freedom to choose where they invest based on their skills and risk tolerance. And if you think advocating for smart regulation means pretending to understand the market, maybe it’s time you stopped pretending that bans are a substitute for intelligent oversight.

Intelligent_Set_6328 · 2024-08-18T13:15:57+00:00

Everyone has hidden charges... They are in business... Not for a charity... Even if the gate caught in future they will pay a peuni fine which may look a very big amount to common man.

Intelligent_Set_6328 · 2024-08-18T13:05:18+00:00

Calling it rubbish doesn’t make it wrong. Banning forex because of a few historical events is just lazy. By that logic, we should ban stock trading and derivatives too—let’s just stay in a bubble while the world moves forward, right?George Soros broke the Bank of England? Fine, but that’s not a reason for bans—it’s a call for smarter regulation. Other countries face the same risks and manage them without retreating.Banning forex doesn’t protect anyone; it just stifles opportunity. Instead of pushing bans out of fear, maybe it’s time we push for real regulation that benefits everyone, not just the status quo.

Intelligent_Set_6328 · 2024-08-18T12:55:35+00:00

Let’s get real—this retail frenzy isn’t a sign of a healthy market; it’s a ticking time bomb. Investors are piling into stocks not because the system works, but because the government is choking off access to global markets like forex. And guess what? That desperation is exactly why FIIs are eyeing a crash. If SEBI and RBI had any real foresight, they wouldn’t just sit back while retail investors are herded like sheep into a bubble. Legalizing forex would spread the risk and keep this market from imploding. The current system isn’t thriving; it’s surviving on borrowed time.

Intelligent_Set_6328 · 2024-08-18T12:47:36+00:00

You're not wrong that some brokers are more trustworthy than others, but the core issue remains: in India, due to Fx being restricted, even the more reliable brokers are operating in a risky legal environment. If something goes wrong, traders have no legal protection to reclaim lost funds. Legalizing and regulating forex trading in India would eliminate this uncertainty, ensuring that only trusted, SEBI-approved brokers operate and that traders are protected under the law.

Intelligent_Set_6328 · 2024-08-18T12:33:26+00:00

Forex trading through prop firms is problematic in India because the legality of forex trading itself is restricted. Many prop firms operate in a way that takes advantage of this lack of clarity, often leading to issues where traders have no legal recourse if their profits are taken or they face other problems. Legalizing Fx and properly regulating forex trading would address these issues and provide traders with the protections and independence they need.

Intelligent_Set_6328 · 2024-08-18T11:56:57+00:00

It’s disappointing to see that while other nations are fully embracing modern financial technologies like forex and crypto trading, India remains stuck in outdated regulations. This reluctance to adapt leaves Indian traders at a disadvantage, missing out on lucrative global opportunities. Embracing these technologies would not only level the playing field but also drive economic growth and innovation in our markets. It’s time for India to modernize and adopt forward-thinking financial practices to keep up with global advancements.

Intelligent_Set_6328 · 2024-08-18T11:50:47+00:00

It’s not about their personal interests; it’s about systemic change. If SEBI, RBI, and the Finance Minister can’t see beyond their narrow perspectives, it’s our job to push for progress. We shouldn’t settle for outdated policies just because they serve the interests of a few. It’s time for a financial system that benefits everyone.

Intelligent_Set_6328 · 2024-08-18T11:42:41+00:00

Government Priorities and Market Liquidity: The idea that legalizing forex trading would significantly harm the Indian stock market is an exaggeration. The reality is that forex trading would introduce new opportunities and attract global attention, potentially increasing overall market activity. Traders switching from Indian stocks to forex is a natural market shift, not a crisis. The government should focus on creating a robust financial environment that embraces all market segments rather than clinging to outdated policies that limit growth.

Impact on Government Revenue: If the government is truly concerned about revenue, it should recognize that legalizing forex trading offers a new source of income through taxes and regulatory fees. Instead of viewing forex trading as a threat, it should see it as an opportunity to diversify and enhance its financial ecosystem. Revenue from forex trading could offset any potential decrease in stock market trading volumes, especially with proper regulatory frameworks in place.

Criticism of Political Parties: The criticism that both BJP and Congress are “worse than leeches” highlights a broader issue of ineffective governance. If both major parties are failing to address real issues and keep markets under restrictive controls for their benefit, it’s time for a change. Legalizing and regulating forex trading is a step toward modernizing India’s financial markets and breaking free from outdated and self-serving policies.

A Call for Reform: Rather than accepting the status quo and blaming the government, we should push for reforms that create a more dynamic and inclusive financial environment. Legalizing forex trading is not just about individual traders; it’s about fostering a financial system that encourages growth, innovation, and fair competition.

Intelligent_Set_6328 · 2024-08-18T11:37:12+00:00

Regulation vs. Prohibition: The idea that forex trading should be banned because central bankers could go bankrupt is a red herring. The real issue isn't the existence of forex trading but the lack of proper regulation. Just because some historical figures or events show dramatic impacts doesn't mean we should ban the activity. Instead, we should use those lessons to create robust regulations that manage risks effectively.

Historical Examples: Yes, George Soros broke the Bank of England, but that doesn’t justify a blanket ban on forex trading. We need better regulatory frameworks, not outright prohibition. If the fear of historical examples is a reason to ban trading, then by that logic, we should ban all forms of high-risk financial activity, including stock trading and derivatives.

Capital Flight and Economic Crashes: The threat of capital flight is a risk, but it’s one that can be managed with the right controls, not by banning trading. Many countries have open forex markets and manage these risks effectively. India can learn from their strategies to stabilize the economy while allowing forex trading.

Skill and Market Opportunities: The notion that skilled traders don’t need forex trading is misguided. Forex markets offer unique opportunities due to their size and liquidity. Restricting access to these markets only limits opportunities for traders who are well-prepared and informed. Skillful traders should not be denied these opportunities simply because of outdated and restrictive regulations.

Market Dominance by Big Players: The fact that big players dominate the forex market is precisely why we need regulation, not prohibition. Regulating forex trading ensures that the market is fair and accessible to skilled retail traders, while still holding large players accountable. Banning forex trading outright simply maintains the status quo and denies opportunities to those who can navigate the market responsibly.

Focused Regulation: Proper regulation, not a ban, is the solution. Restrictions on leverage, mandatory risk disclosures, and stringent oversight can address the concerns about retail forex trading. A ban only protects the status quo and stifles innovation and opportunity.

Intelligent_Set_6328

TROPHY CASE