Third party transaction in bank account
This query is : Resolved
28 August 2015
I have one query..,
My client receives money through bank (NEFT) from Party X and he transfers money (NEFT) to party A and B who is creditor and employee of X . Value of this transaction is More than 12 Lakh rupees. According to Income Tax Act what are all the procedure to be followed for this transaction...?
ThanK you...
I have one query..,
My client receives money through bank (NEFT) from Party X and he transfers money (NEFT) to party A and B who is creditor and employee of X . Value of this transaction is More than 12 Lakh rupees. According to Income Tax Act what are all the procedure to be followed for this transaction...?
ThanK you...
28 August 2015
the transaction is through regular banking channel. Ihat itself is more than sufficient for Income Tax. No any additional care is required to be taken.
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