Money transfer bussiness

Guddoo Yadav (Querist) 30 December 2013 This query is : Resolved
Dear all,

I want to Start my own Money transfer services like other companies are doing e.g. Easy Bill,one stop shop etc.
I want to know what kind of permission i have to take to open a money transfer facility only for domestic not international. I don't want to go for franchisee system with any company .
Please let me know can i go as a propritorship bussiness for money transfer service. except this what kind of permissions i have to take like authorities- RBI, INCOME TAX DEPT. ETC.

Please guide me

Thank You.

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Rajendra K Goyal (Expert) 30 December 2013
This is a professional query, consult your professional adviser.
Local licenses, service tax registration and permission from the company on behalf of which you will be collecting and transferring the money in the account of that company is essential.

Devajyoti Barman (Expert) 31 December 2013
Commercial query.
Engage an advocate on bearing his fees.

BAALASUBRAMANNYAMM (Expert) 31 December 2013
agreed with experts.

ajay sethi (Expert) 31 December 2013
commercial query . you can afford legal fees

T. Kalaiselvan, Advocate (Expert) 31 December 2013
I endorse the experts view on the subject.

V R SHROFF (Expert) 29 July 2014
commercial query . you can afford legal fees, SO CONTACT LOCAL LAWYER

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