IT department k pas itne time honge k 10 Lakh walo ko notice bheje? 140 crore ka desh lockdown k bad aise hi loans se pareshan hai. Crore marne walo ka to kuch bigad nh sakte srf middle class k ganr me ungli krna h rules k naam pe.
2nd example is same but hear ITR is 10 Lakh and credit card spending is 15 lakh all 15 lakh INR bills paid from friend's bank account, friend ITR is 20 Lakh
If we get IT notice, How can we explain that's not income, that just a amount taken from credit card to another creditcard bill... How can we reply to IT please explain
If we get IT notice, How can we explain that's not an income, that just a amount taken from credit card to pay another creditcard bill... How can we reply to IT please explain
How can we reply IT saying source of income is a credit card, We took money from credit card through wallets. We paid commission to wallet company. Why still we get notice? Credit card money is not income right ??
I am a 21-year-old non-earning student living in India who just filled 1 year's NIL ITR. It's like I don't earn anything but I spend on all our necessities through my credit card. I pay the bills perfectly on time but since I am spending more than I am earning, will I be asked for the fund's source? It's like I ask my father for the money to pay the bills but to be honest, the expenditure amount significantly exceeds the amount that we show in his income tax file. Therefore I want to know what will happen because of it? How will the income tax department come to know about my expenditures if they are not directly reported by my bank/card lender?
Thanks a lot for the video. It is really helpful. I’m having one query, it would be great if you help me in that. Let suppose someone debit 3 lac rs from credit card to wallet by paying some processing fee of 2-3% and spend that 3 lac rupees. Then next month during the time of due date he again withdraw 3 lac rs from credit card to wallet to bank and make the bill payment of that 3 Lac rupees bill. Suppose this continues for whole year. then his total debit amount will be 36 lac and his paid bill will be 33 Lac. So how will income tax be calculated?
Pan aapka laga hai kya matalab jiska credit card hai uska bhi laga hai aur jiske account me ja raha hai uska bhi laga hai please confirmed sender or reciever
In my opinion all legal transactions are valid, any proprietor can use his personal bank account or personal credit card for business use... No saction or sub saction of Income Tax act denies this... Only thing is accounting and auditing and taxation on valid income...
Agar mera income 5 lakh h as per itr but mai apna card suppose 5 family members keliye use karta hu and sabka income 5 lakhs each h (25lakhs combined + 5 lakhs mine) and mai credit card 26 lakhs use kar leta hu to kya income tax wale manenge ye baat? Ya mujhe 26 lakhs pe income tax bharna hoga?
Sir g main online transaction se apne saving account me kitne amt. Tak deposit kr skta hu ki mujhe koi notice na aaye maine 2.5lakh kre hh but maine koi ITR file nahi kri or ye saari income meri crypto se hh btao pls..... Aisa maine 3 different accounts me kiya hh pls btao bhai
Bhai sabse pehle thank you 🥰. Itna informative video banane k liye. Mere kuch doubts hy iske regarding.. credit card payment income tax ki limit 10lak hy par financial yr. Aur saving account cash bank deposit ki limit bi shyd 10lak hi hy. To Mera sawal ye hy.. kya dono ki 10lak and 10lak separate limit hy? Ya dono ki mila k only 10lak hi hy?
@@expertcasachin . Income tax ko report bank karti hy. I think credit card statement base par. To kya statment banne se pehle hi payment karde aur statement me kam payment amount show hoga. Kya aisa karsakte hy? Tax ki limit se bachne k liye
Sir , please explain in next video, If my income 1 Lakh and Credit Card spending is 2 Lakh , but all credit card bills paid from friends bank account, hear friends income slab is under 2.5 lakh, So now income tax department can send notice or no ,
Sachin Sir If i have spent under 10 lac in each card (having 4 cards) then overall 36 lacs spent, but there is no reporting of these transactions in AIS or 26AS as bank doesn't report below 10 lac. Then how can we file ITR in this case. And if we dnt file itr showing these entries, notice will come in future...Please Reply Sir....
@@expertcasachin sir jaise Maine apne frnd ka 2 phone purchase kiya 1 lakh ka or turant online credit card bill ka payment v online kar diya ,to kya ye v count hoga
Hello sir agar mere credit card ki limit 25000 hai lekin mai extra payment krke usko use karta hu 25000 apni taraf se payment karke use kar rha hu or mene 10Lk use kar diya hai lekin bill 0 generate hota hai to ese mai notice aega plzz batae
Sir bhai k name se credit card h 5.mne unke sara amount use kar rakha h per month 3 ya 4 lakh ka tranctoin mere bank account se karta hu.kya notice aayega kya.bhai government job m h salary 55000 h
Sir, If someone has ITR of 9 lacs. Consider that person has invested 4 lacs in mutual funds for a particular financial year. Now, if he does transaction of 7 lacs through credit card for that financial year, Will he get notice? Asking this question for learning purpose only.
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 ?
Sir ek client gov employee hai usne 18lac ka credit payment kiya hai to kaise file hoga itr itr 4 file kar sakte hai kya but legal issue hai ki gov employee alag se koi business nhi kr sakta?
Sir If my friend has used the credit card for purchase and then after bill generation paid the credit card bill by his saving account online. In this case also will I get the notice
Sir, credit card se payment le kr apne bank account mai rakh lete h fir uski ko return credit card mai jama mr dete hai to bhi ye expense mai mana jayega ya nhi.
Hi Agar mera credit card koi dusra person use kare or wo hi us credit card ki online bill payment bhi kare, to koi issue hai ??? Financial year me 50 lac use kare or every time online credit card ki bill payment kare. Koi issue hai isme...... Pls Reply
Hi sir ,me government doctor hu mera Itr 88000 aya hain 22-23 me,maine 10 lac ke upar kharch kiya h credit card se 1 financial yr me ,yeh isliye hua ki mera home lone ki kist late ati thi,to main credit card se cash nikalkar use karata tha aur jab lone ki kist ate hi me use wapas credit card me dal deta tha,mera cibil abhi 790 h,mere pass iske documentation h ki maine credit card se paise kyu nikale ,to isse mujhe income tax department se notice ayega kya ,agar ayega to kya karana padega....
Hi what about revolving credit criteria for an example..i was billed appx 15 lac thru credit annually but i pay one credit card thru another credit card by paying interest about 3-4 % by adding money from credit card to wallet and then transfer that amount to bank account. So in that case , i did whole payment of credit card bills thru another credit card limit. What will be the tax consequences in that scenario?
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 reply me sir help me sir yadi aaya to kya reply Kara please help me sir I am a student please help me
Sir ek pr bat mere pass 5 credit card h or m sabhi credit use karta hu HDFC se 25000 har month axis se 30000 or sbi 50000 icici 50000 har month to kya fir aaa sakta h
