money transfer
This query is : Resolved
Shankar Ghangale
(Querist)
29 May 2017
I have fino money transfer software
if I transfer exceed 2 lakh through such software in singal day and collect money from customer and after the end of the day collected amount give to the distributor then violation of the act or not
please give me suggestions for that
CA Rashmi Gandhi
(Expert)
29 May 2017
Yes it is violation if amt exceeds Rs 200000/- from 1 person for single transaction.
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