SFT-006 Credit Card Payment

Page no : 2

Rajesh Kumar (15 Points)
Replied 06 January 2023

Originally posted by : Dhirajlal Rambhia
	Keep the records of credit cards rotations with statments issued by banks. In case of any further query you can justify the amount roteted for earning some monetary gains.

Thanks sir for the response

1. The money rotation areas done using rent pay using credit card to my own account ? Does this lead to any complications in terms of TDS, income , etc

2. what should my response be now to the campaign sent by income tax? Should I accept transactions are correct

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Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177896 Points)
Replied 06 January 2023

1. It needs to be justified by cross entries.

2. Better consult a local professional to get it resolved properly.

Mani Bwin (36 Points)
Replied 11 July 2023

sir, one of the my client paid 90 laks in credit card payment in the fin year 22-23.
where i show the amount while I'm filing income tax return... he is salaried person... pls send what is the rules of credit card payment under income tax act.

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177896 Points)
Replied 11 July 2023

Check the purpose of the payment and categorize.

Yogi Simha (4 Points)
Replied 25 December 2023

@ Rajesh, I am in the same situations and Tx department have asked me to respond by jan 1st 2024. what have you done for this.? Please share me how to manage this. Thank you.