Financial services

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 December 2014 Dear all
i would like to know that if someone is in business of financial services ( Like money provider or money exchanger ) i,e he is bringing money from One party and providing to another person through bank then he has to take approval from RBI or has to pay service tax. is there any illegal business.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 December 2014 then its termed as non banking financial co and needs rbi permssion first else will be prosecuted under money laundering act 2002

Querist : Anonymous

Querist : Anonymous (Querist)

25 December 2014 Thanks a lot sir. can i know the process for this that how can we take the approval and where we have to approach for this.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 December 2014 https://microfinance.ozg.in/2012/11/nbfc-registration-fee-procedure-by-ozg.html

refer this link for the procedure.

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