ITR form for banking correspondent

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accountant
888 Points Posted on 14 October 2020
What ITR form should be used for a person running aadhaar enabled ATM and banking correspondent (BC)?
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On 14 October 2020 at 14:44 Report
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This discussion clarifies the appropriate Income Tax Return (ITR) form for individuals operating as Banking Correspondents (BCs) and running Aadhaar-enabled ATMs. The consensus suggests that ITR 3 is the correct form, particularly as commissions are typically paid by the bank. This guidance helps BCs ensure they are filing their taxes accurately.

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Tax consultant
5895 Points Posted on 15 October 2020
Does he get any commission or brokerage being third party if not then itr 4 or else itr 3
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On 15 October 2020 at 19:03
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accountant
888 Points Posted on 15 October 2020
Commission is paid by the bank, so ITR 3. Is it right?
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On 15 October 2020 at 19:14
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Tax consultant
5895 Points Posted on 15 October 2020

Yes itr 3 you have to file

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On 15 October 2020 at 21:54
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accountant
888 Points Posted on 15 October 2020
Thank you
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On 15 October 2020 at 22:31

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