29 April 2024
I have made payments of house hold exps approx Rs. 9,00,000/- in FY 2023-24 through UPI Linked PNB Rupay Credit Card at various Shops/Showrooms/Malls etc. at different UPI Scanners. My credit Limit is Rs. 50,000/- per month. In previous FY 2022-23, I have filed an ITR of Rs. 6,50,000/- of Gross Total Income. Will I receive any Income tax notice for using credit card? Give your expert advice?
01 May 2024
a notice can be issued for several reasons including abnormal spending. So, there always is a possibility of such a notice. But not necessary.
02 May 2024
In addition, mostly it depends upon the mode of payments of credit card bills. If by banking mode, and if your gross income be near about the spending, chances of any query would be minimum.
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