I want advice about UPI transaction and tax

[dineshbhambu2]

Hello
Mujhe 1 advice chaiye if you guys can help me
So mera dost srilanka se h jo binance p2p trading kar raha h or india me usdt sell karta h or payment main UPI se recieve karna hu or saving account h mera or fir main aage use payment kardeta hu international UPI se
So hume daily 10 lakh ki transaction karni h
So hum ye kaise kar sakte h or kya transaction ka tax Dena hoga
Kaise kya hoga please suggest kre

 

[zacobite]

Hello
Mujhe 1 advice chaiye if you guys can help me
So mera dost srilanka se h jo binance p2p trading kar raha h or india me usdt sell karta h or payment main UPI se recieve karna hu or saving account h mera or fir main aage use payment kardeta hu international UPI se
So hume daily 10 lakh ki transaction karni h
So hum ye kaise kar sakte h or kya transaction ka tax Dena hoga
Kaise kya hoga please suggest kre

transaction tax rehne do - bahut saara income tax dena hoga.. CA dhoond lo..

 

[chiragjain]

Hello brother
You do daily 10 lakh transaction and you gave tax to govt without thaught you higher any professional person who noticed that how much tax should gave to govt and how much profit will make its better that you higher a profession person that you tell that you do 10 lakh transaction do

 

[Prince]

You can not do business transaction by Saving accounts, and also there are chances that bank can flag off your account, wrt to high volume transactions.

Also there will be SFT reporting and your AIS will be reflecting the transaction.
For Cypto Transaction also, the same will be reflected in your 26AS and AIS.

Kindly connect with a Tax Expert as doing this by your self can land you in trouble.