If an individual carries money transfer business by online platform through bank. IDT may ask for bank details as huge amount of cash deposited. what precautions should
kept in mind while filing return. or.
one can file ITR and show his commission as other income.
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Money transfer buisness
Replies (2)
You are in business of money transfer. Your business income will be only commission. You must maintain separate Bank account for money transfer from your personal saving account .
You can ITR 4.
You can ITR 4.
Thank you. ONE more thing , can I direct transfer money through IMPS/RTGS/NEFT mode from my personal account. what consequences may be there from Income tax department
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