Question by Vishnu: What is the legal procedure for converting the earned money online from hyip from other country to India?
What is the legal procedure for converting the earned money online from hyip from other country to Indian Bank. Do I need to pay tax for this? or is it illegal to such online money business outside the country.
Answer by Jerry
HYIP are all frauds. There is no way any scheme can pay 1% or 2% daily without collapsing quickly.
You will lose money rather than earn, so no worries about tax or converting money.
SpeakAsia and unipay2u are two such schemes that collapsed recently. You should learn about them.
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