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Online money Transfer For income tax

04 October 2020

Dear sir jo log online money trasfer wala work karte hai to unke account mein bahut lamba transaction ho jaata hai to income tax me uska kis tarah return file karna hota hai puri detail me jankari dijiye

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2 Replies

Sagar Patel (Tax and Business Consultant) (11611 Points)
Replied 05 October 2020

You can show your Commission income from this business (i.e Money transfer business) as "Income from business and Profession" in your income tax return.
It's advisable to keep separate bank account to do all this business transaction which is done in course of business (i.e on behalf of Customer)

Sanya Padmanabhan (Public affairs specialist) (22 Points)
Replied 15 December 2020

I have never liked this kind of work precisely because I have to pay taxes. I switched to working on the Internet a long time ago, which is not taxed yet. Hopefully there won't be any changes about this soon. I spent a huge amount of time looking for a good service that would allow me to earn money, but by chance I found a topic from one guy who said that you can play free online games to earn money. It really interested me and I decided to try it. In the end, it turned out that this is really an excellent method of making money online, if you want, you can get acquainted with it without any problems!