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
Menu
Lifetime free credit card
Replies (1)
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.
Recent Threads
- Invoice related audit
- Gst input credit related
- Updated ITR as missed the dead line
- Change if place of business l
- Purchase from unregistered dealer garments busines
- TDS DEDUCTED BUT NOT PAID BY EMPLOYER
- GST RCM GTA
- TDS Challan interst amount wrongly paid as surchar
- Query on TDS & Stamp Duty
- Query on form 26QB and TDS deduction
Related Threads
CAclubindia
