Whether credit cards cash backs are taxable ?

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Anjali Arya (Querist)
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26 July 2011 I have got Rs. 8500 cash back rewards from various Credit Cards during AY 2011-12.

How shall this be treated while preparing IT Return?

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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26 July 2011 Yes this is income from other sources and taxable

Gyasuddin (Expert)
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28 July 2011 Yes that's right Mr Aggarwal. This is income from other sources.

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