one of the person is money transfer agent.
He also have certificate of this.
but he does not file ITR of A.Y. 2018-19 till now.
and now income tax department issue compliance
your bank transaction above 1.5 crore and you did not file ITR.
Now if I file ITR of this one than i will consider only commission in ITR as income receipt (because his in this agent case only commission is his income).
sooo please tell how to reply for compliance.
as per my opinion firstly i should file his ITR for relevant year as a commission agent and then in reply i will attached his registration certificate of money transfer agent.
Is this right or any change required?
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tax treatment in case of money transfer agent
Replies (2)
yes you need to file the ITR. bank interest shud also be considered in ITR. you need to pay the penalty for non filing and adhere to the compliance
Where I can get certificate for money transfer business help me in this regard.
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