SFT-006 Payment towards Credit Card

Page no : 2

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177713 Points)
Replied 22 July 2024

Not in ITR, but keep the statement ready for future, in case it is been asked.

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Saswat Sahoo (8 Points)
Replied 31 July 2024

Namaste Sir,

I have multiple credit cards and I also rotating the credit card monthly which is approximately 8 Lakhs in a month and I also know that it will definitely show in my SFT-006 . I recently filled ITR this year where my SFT-006 was 33Lakhs. But this year it may cross 90 Lakhs.y

Right now my annual income is 4 Lakhs.

Is there any problem can happen in future

please tell .

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177713 Points)
Replied 31 July 2024

Yes, query would be raised by ITD. Better avoid such virtual transactions.

But if you are acustomed with such queries, then may continue with benefits.

1 Like

Saswat Sahoo (8 Points)
Replied 02 August 2024

Sir Now I set a limit on all my credit cards in such a way that after using all that regularly at the end in the financial year it will not cross the 10Lakh limit so that it will not notify in SFT - 006.

Is it works ?

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177713 Points)
Replied 02 August 2024

Yes, but make sure no cash payments of the bills.

1 Like

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Saswat Sahoo (8 Points)
Replied 02 August 2024

Thank you Sir.

Sir I just have a last query that if I do more upi transactions like receiving money from my friends who are using my credit card every month and later used that money to payment regarding my credit card bills every month, is it attract attention of income tax department.

In simple words,is more upi transactions like 8Lakh in every month in multiple savings account which are link to a single PAN Card, can attract attention of income tax ?