Non-compliance with forex tax regulations in India can result in severe penalties, including fines, interest on unpaid taxes, and legal action. Traders who fail to report their forex trading income accurately or deliberately evade taxes may face penalties of up to 200% of the tax amount due, along with prosecution in extreme cases. Additionally, the Income Tax Department has the autho... https://succeedfx.com/forex-basics/how-to-manage-forex-trading-taxes-in-india-a-complete-guide/