Income Tax on Credit Card Transactions | Income Tax Notice on Credit Card Payments | Credit Card ITR
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- Опубликовано: 14 окт 2024
- Checkout this Video to know about Income Tax on Credit Card Transactions | Income Tax Notice on Credit Card Payments | Credit Card ITR
income tax on credit card transactions,
income tax on credit card,
income tax notice on credit card usage,
Income Tax on Credit Card Bill Payment,
Income Tax on Credit Card Business Usage,
Income Tax on Credit Card Cash Usage,
Income Tax on Credit Card Big Payment
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sir one more question, how much expense can be claimed against commission income?
i read few of the article that suggesting 50%/15% expense can be claim against such income, max ceiling limit is 20000. CBDT Circular being Circular No. F. 14/9/65-IT(AI)
this circular issued in 1993 is it still applicable?
Thanks in advance.
Income chek tho di na karte hy ab ka banks bhai, o tho only cibil and pehle ke transaction history acha rehne se evry yr limit badaa ja rahe hy, even sbi icici axis then normal person tho leyega na
Hello sir pls answer
If i spend in the prepaid cards like slice,lazypay which are issued by NBFC then it will be counted under credit card or not?
Bhai mera ek question hai or muje aap plz reply karna
Mere pass 20 lakh limit ka card hai or mai uss card se 20 lakh ki shopping krke or uska settlement karva leta hu 5 lakh me or 5 lakh mai 6 month ki emi me pay karta hu tho income tax se kya kya problem muje face karni padegi ? Or meri itr 5 lakh ki hai per year
Sir yaper use karna thik hai ya nahi?
Agar mai daily 3 lakh spend karu aur bill bhi bhar du tow kya hoga?? ITR mai kese bata sakte hai Credit card se generate huwa income?? Other income mai se kya?
Credit card se agar apne saving account m fund transfer karte hai through rent payment 1.50 se 2% charges payment karke kya hum iss charges ko p&l ke debit side me dikha sakte hain. Iss ko expense consider karke apne income ko utna minus kr sakte hain
Hello
Sir, I have been using my credit cards as revolving credit. I do not do any business. I am just a salaried employee. Since , I had financial stress, I used credit cards to rotate money. I used paytm rent pay to transfer money from my credit card to my savings account and then pay another credit card bill and so on. I have been spending. 5-6 lakh every month like this.
Is there a problem from this? What should I do now?
Pls reply same query my spend is more than 10 lakhs per annum
same here
plz share yours no
Same query.. pls must do reply
Yes... 5-6 lakhs per month means above 50 lakh per annum that will be huge problem... Contact any good tax consultant or lawyer
सर मेरा HDFC बैंक का cradit कार्ड है 1 लाख रुपये limit है कई बार मेँ उसमे से पैसे निकलवा लेता हूं, पर payment में time पे करता हूँ और उसी Account से payment करता हूँ, तो कोई प्रॉब्लम तो नहीं सर
Bhai agar fake rent pay kia hoga through CRED APP THO TAX LAGEGA KYA I MEAN BHARNA PADEGA KYA
Sir I transfer money from my credit card to my bank account for earning interest .
And pay the whole amount on due date with in time.
Again do the same thing every month.
Is there will be any consequences or any kind of problem will arise ???
Sir pls ans
Sir Swiping credit card and withdarawal of cash is legal i.e. showing as utility bill payment and withdrawing cash ?
Sir This 10 lakh Capping is for the amount of generated Bill of Credit Card Or The Amount spent ??? If i spent an amount and repay that amount before the generation of the bill will that be counted in this 10 lakh limit ?
What about spends on add on card?
Will the payment to add on card will also get reported to primary card holder form 26as
Hello sir.. mera yearly income 3.5 lacs hai .
N mere pass 7 nos credit cards hai ..
Mere frnds mere cards se online mobile purchase karte hai and ek frnd junglee rummy game me mera credit card use karta hai .
June -21 se lekar Dec -21 tak abhi tak 13 lac ka transaction ho gaya hai .
Jab statment aata hai tab sabhi frnd muje UPI through paise send karte hai and me sabhi payment kar deta hu UPI se..
Sabhi ki entry mere bank account k statment me hai..
To sir Kya IT department ka notice a sakta hai??
N agar aayega to kaise explanation dena hai??
Koi notice aaya
Ek financial year me kitna tak use karna chahiye mai itr nahi karta hu
While I was working back in 2019 I got 5 CC & started using them. Now I'm preparing for my PSC exams & earning nothing.
Still, I've been using my CC & from March 22 till date I've spent 7 L approximately.
I wasn't aware about all these T&Cs hence helped my friends getting phones, watches, transferring the amount on their A/C through "PhonePe" as you mentioned in your video.
Today, I found your video on RUclips & it opened my eays. I shared it in my circle to make others aware as well. So, thank you so much for that.
Now, please help me! Would I be getting IT notice as well? As I'm not a taxpayer still spending 7 L?
Me FD Pe credit card le raha hoon
Mere ko Income tax ka notice ayegha kya
Agar me 2 lakhs ke upar transaction kartha hu
And bank me kitna cash deposit kar saktey he
Sir personal credit card se business kar raha hu. To kar sakta hu
I am using my personal credit card for business purposes and my company directly making the payments to banks. It I get notice how can I prove them about this situation?
ITR 3 VALA BTAIYE AAP JO LOG SHARE TRADING KRTE HAI UNKE LIYE INTRADAY AUR DELIVERY DONO FNO ME KAAM KRTE HAI KAISE FILL KRE FORM
Hello Sir,
I have credit I have done approx 13Lac transaction only for cashback purpose Through Paytm ( Wallet load then transfer bank then again pay and again load ) is there chance to get income tax notice if yes then how justify the same ?
Bhai 13 lack kaisa load kiye Paytm mae batayie pls
Me too... Even paid light bills for neighbours
Me too. Let me know what happens
@shyam sunder Goel apne bhi Paytm se kiya? and kitna reward mila ?
@@belligerent22 apko kitna reward mila credit card se
Sir mai apne credit card se 12 lakh ka transaction 2020-2021 me kar diya hu Income Tax se kaise bachana hai. Please help me
Aapko notice Mila kya
Sir I have paid my dad credit card bill how to show in capital ac ?
Hlw i have a query that if Mr A has 8 lacs of income and multiple credit cards are in his name but he is not using those cards his brother (Mr B)is using and he only make payment of 15lacs of those credit cards now it's showing in AIS of Mr A what should he do... Pls rply
Sir mera credit card limit 10,000 hai ....Reward point k liye mai daily credit card se spend karke daily repayment kar deta hu{credit card to wallet then wallet to credit card} .....Aur mera total spend monthly ka 3-4 lakh ho ja raha hai ....Kya 10 lakh ho jane par hame bhi notice aayega income tax ka....One more thing ...Sir mera credit card ka bill zero hota hai jab generate hota hai kyunki mai bas transaction karke turant pay kar deta hu ..... Please reply 💖 it's a request 🙏
Kitne time se ker rahe ho ye ?
Bhai ek hi credit card hai kya apke pass dusra nhi bana kya
@@anwarkhan-hv7wk 6 h bhai
Mera to SFT 006 pe 56L show kar raha hai...mah Mobile Wallet mah load karke same paise se payment karta hu...pata nehi muje kya tax payment karna parega
Bhai mai bhi point ke chakar m 14 lakh ka transaction karr chuka hu aapka notice aaya kya
Cred referral cashback is taxable? How many %
Rti FINESIAL year kis manth se kis manth tak hota h
Buy now pay later card main bhi same thing apply gota hain kya?
Meri bhi yehi query hai?? Bnpl cards pe same rule apply hota hai kya??
Hello sir... How to show credit card reward points in ITR?
Charge kitna hai itr filing form no 3 ka
Sir ji clear batao
Pehle bola ki 10 lac online payment , fir bola 2 lac ki bhi reporting hogi
Very informative video ...
Thanks for dar ko kaam karne ka liya 👍
Sir ,mera 1 saal me credit card shoping 10lkh se upar ho rhi he ,income Tex na aaye iske liye kya karna chahiye , mobile shop he isliye mobile mangate he
Mera credit limit 40k hai aur cash limit 16k hai jab bhi mein credit limit use karne ke baad uska payment karta hu to cash limit badhati hai aisa kyu hota hai ??
Ap maximum kitna use karte ho card limit ka
Sir aap ke paas jo pdf he uski link mil Shakti hai kay
sir my one of the client working as insurance agent and accepting policy money from customer through UPI or cheque and paying same amount through credit card to insurance company. His total income approx 9L but in 26AS credit card transaction showing 65L.
Is there any chances of notice??
yes there is chance. ask him open a current bank account on firm or personal name and accept in that via upi and then paid via neft or upi or debit card etc
@@myonlineca ok thanks for advice.
@@myonlineca sir aesa current account lene par bhi customers ka pysa ko a person kysa ITR dikhayega, insurance me employe tha but not in that business na? ,,,,
@@myonlineca current account lene se bills bhi file karna padega a person,, then he got money frm clients via upi R bank ac then how he show his transactions to income tax for that particular current account
@@myonlineca My ITR is 2.5 Lakh,
Yearly spending in Credit Card 8 Lakh,
Yearly spending in bnpl cards 4 Lakh,
Income Tax notice aane ka chance hain kya ?
Thank you bhai for your very valuable suggestion. 🤗
Sir aap y information Kaha s nikalte hai y bhi batata kijiga sir ji
Hi i tranfere my credit card amount to paytm and then tranfer that amount to my bank acount after that I pay my other credit card bill same I do every month like first I trnafer 60k from my credit card to bank and after that I pay my other credit card bill again next month I tranfer amount like same and pay other card bill is there any thing I should worried about
Bro did you got answer
Bhai kya hua koi notice aaya please reply mein thoda zyada amount k saath same cheez karta hu please reply
Credit card se paytm merchant ,ya kisi or tarike se nikale huye paise income mani jati h kya
Or us pe tax lgta h kya
Iski kitni limit hoti h
Or agar ye paise ek job wala nikalta h to kya ye uski income mani jati h kya
Please reply
Bhai reply do, agar tmhe answer mil gya to
3r information is wrong, provide correct information.
sir maine 10k ki fd bnvai hai or mai apne credit card se transaction karta hu phir vhi money jo add kia dobara uski ko repayment kar deta hu to koi problem hogi kya ?
Agar may mere card se rent pay karu paytm se or wo pesa phor bhar du to mujhe kay notice ayega agar may month may 5 lakh karta hu to
Also i want to know
kisi ko kuch reply mila
@@LKGMedicos nhi
@@Hindustan-750 mera 20 lakh ka transaction ho gya es month
@@LKGMedicos mera august mai 28 lakh ka reward point ke chakker mai credit card ke pese ko hi ghooma raha tha
But 34000 kama lia
My income is 3.5 lakh in itr i m using credit card for 10 lakhs.how much tax will be paid by me for using credit card
Aapko mila koi solution?
@@nikhil4dtiwari did you got solution
@@bobbybobby5996 nahi...Abhi Notice aaya kya aapko?
@@nikhil4dtiwari nahi bhai asking info
Ye bahot complicated hai..wife ka income consider kiya jata hai..? Jyada tar credit card ka bill wife se hoti hai..light bills bhi..wife ki salary bhi consider hogi agar CC ke transactions jyada hai
.?
card jiske name pe hai uski income consider hogi
Sir please help.
Meri na April se lekr October ki credit card ki transaction jo hai woh 13 lakhs ke around ho gai h.
Actually maine kiya kya hai
Credit card se online sales me
Mobile phones book kiye h discount mein .
Apne name se
Or unko maine market mein 8% se 10% profit me sale diya hai .
Maine bill ke records rakhe hue hai.
Or meri jo waise salary aati h 30k per month aati h
Agr mujhe notice aaega toh uska solution ky ahoga?
My credit card usages 25 lakhs per year , how to pay IT for this transaction
how much reward point u get for it?
Apke income tax ki notice nhi aayi
25 lakh pr to aa jani chaiye
Bhai msg ka javab do
Yes plzzz did you got any notice from INCOME TAX??
Sir 1 lakh k transaction pe notice aa sakta hai ?
😎
Highly Informative vdo....
Sir I have 50 to 60 thousand rupees in my bank as savings and with this amount I have created flexi fixed deposit of 50 to 60 thousand rs average during FY 2021 2022 for almost 25 times created and withdrawal 25 times the gross amount is 1521216 rs anount. Now i have received a notice through e campaign for not filing of itr
I am an Student whose annual income is
Less than 2.5 lakhs and interest from fd is also only 2 thousand. But My fd transaction SFT 005 is showing in AIS.
Sir will i face any further notice from income tax department.
[ I have not created any fd using cash and my cash deposit is also less than 50 thousand during financial year 2021 2022. Please help me by replying sir.
Sir, I'm not a taxpayer yet my friends spent 7 L in this financial year using my card. Can I get notice from IT?
no but 10 lakh se kam hi rakhna or 1 lakh se jada 1 baar mai pay mat krna credit card ka bill.. credit card ka bill genrate hone se pahle bas 80k tak hi shoping krna 1lakh se uper tak amount use mat krna ..
Sir, can you please make a video on reporting process of Different types of High Value Transactions.( SFTs).
already have.. here is the link - ruclips.net/video/DM3KfCxuck0/видео.html
@@myonlineca in this linked video (highvalue trans) ..u didn't mention >2 lak transaction in a year as a condition but in this present video u said as a condition.... what to believe?
if transacted 2lak+ in a year( & less than 10lak) ., paid online (not in cash)...does it lead to notice🙃
@@backup132itsme3 bhai, single card bill 2lakh ka bole hain, matlab agar kisi month apka bill 2lskh ya above ka ban gya to vo bhi report hota hai.
Sir i do lots of credit card transection via a app yeaper...in which i place orders for other person and gots a commession like 100 to 500 rs per transaction (tds is also deducted on commession only) all money comes into my account transection+commession and i makes payment, is there can be a issue, may have spend around 7 lakh rs..., My salary income is 6 lakh kindly suggest
Same here bro.. what is the solution???
Mee to bro, 5.5L and total 10L crossed...
krishan, jitendra, ravik did you guys find any solution of that, because I'm also using credit card for same purpose and my spends around 15 lakh.
Sir maina har month 100000rs ka credit card se paytm rent pa payment Kia total 170000rs, per credit card ka bill generate hone se pehle payment advance me kr deta tha in this case kya mujha tax ka notice aayaga sir please reply me. Ye mujha pata nhi tha please help me sir I am a student yadi agar aaya to kya reply Kara please help me
Bhai answer mila tmhe is question ka?
@@sush9889 nhi bhai tumhe answer pata chala to please reply krna
@@KanhaiyaKumar-uy8xl sure
@@sush9889 did you got answer
@@KanhaiyaKumar-uy8xl did you got answer
Sir i have done transactions worth of 6 lakh from credit card last month so how can i solve this issue
What happened bro? Any problem came
@@sush9889 no not untill now but may be in future
@@kidsto664 no bro, if financial year has passed, no need to worry
Agar ham regulaar 50k credit card se nikal te h rent paymrnt k threw so in a year we spend 6 lakh ruppes
Guidelines k accroding ham 10 lak tak ki payment online. Mode se kr sakte h taki INCONE TAX ka notice na aaye so
Question is
Agar person 2.5 lakh ki ITR bharta ho or vo rent payment krde 6 lakh ki toh is there any chance of INCOME TAX notice because we dont exceed the limit of 10 lakh for payment of credit dues.
Nothing like that what you are saying you are just misguiding people and spreading wrong information. You are just trying to interpret the law as per your choice and creating an hyper.
Please deep explain
I recently use my credit cards for my friends online purchase and it's more than 10 lacs, is it risky?
Tum to bare heavy driver ho vai 😅
Did you got any notice ??
Plzz let us know
Or can you check your AIS SFT also
Pls aap telugu me videos keejiye
Telugu lo kavali
What if
My income is zero
I file ITR of 360000
For credit card income proof
Will i get notice from income tax department ??
Will my credit card accept or reject???
Please reply or make a video on this topic
Thanks
Nhi kuch nhi hoga itne mai
any update ?
Hello
Sir, I have been using my credit cards as revolving credit. I do not do any business. I am just a salaried employee. Since , I had financial stress, I used credit cards to rotate money. I used paytm rent pay to transfer money from my credit card to my savings account and then pay another credit card bill and so on. I have been spending. 5-6 lakh every month like this.
Is there a problem from this? What should I do now?
Same question from my end also.....please let us know your suggestion
Get income taxnotice brother tell me mealso same problem help me
@@v.harish3990 what to do ..in such cases
@@v.harish3990 what to do now
Bro have you resolved this issue if yes please tell me how I m facing the same issue