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.
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.
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.
25 December 2014
https://microfinance.ozg.in/2012/11/nbfc-registration-fee-procedure-by-ozg.html
refer this link for the procedure.
refer this link for the procedure.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GSTR9 Annual Return
- Form 144 TDS Return Validation Error – Mandatory Fields
- Capital gains in IT returns
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Advances to related party
- Capital Gains Tax on Inherited Mutual Fund
- Ito add credit side of bank
- Employee secondment
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
