My CA says that keeping too many credit
cards (even though free) will invite attention &
scrutiny from income tax dept. He suggests not
to keep so many cards.plz opine. Any CAs' in the
group can plz clarify
You have to worry only if you are doing any activity which is against any law. Otherwise, you are free to use any number of cards, but also check its feasibility.
For your information Card issuing banks have to report the transactions, if above Rs. 2 lakhs in any year.
CAclubindia
