Credit card expenses
BISWAJIT (service) (179 Points)
07 January 2020
please tell me how much expense though credit card may attract the income tax in a financial year
3 Replies
rama krishnan
(12239 Points)
Replied 07 January 2020
There's no limit for expenses through credit card unless the same is from disclosed income... however if the credit card expenses are more than 2 lakhs per annum, the same may captured in assessee's ITS details and may get query letter, calling for sources
BISWAJIT
(service)
(179 Points)
Replied 08 January 2020
Is there any specific form for disclose in income tax
Kapadia Pravin
(17259 Points)
Replied 08 January 2020
Cash payments of Rs. 1 lakh or more for credit card bills will be tracked
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