Fayaz (Accountant) 29 October 2020
I have friend who has done the money transfer business for fy18-19 now he has received the IT dept notice to file the ITR for fy 18-19 and 19-20. my query is how to account this transactions as the money received are to be paid to beneficiaries? if we show this as business income do we need to prepare the p&l&BS for same?
Fayaz (Accountant) 05 November 2020
Say example he receive money from labourer to send that money to their home towns. he charges commission for every 1000 to 10 RS.
Stay updated with latest Discussion!
Member Strength 32,81,769 and growing..
CAclubindia
