Like i say if anything can be justified with paper trails then there is no issue. so if you want to avoid all these hassles, avoid or minimize all these things.
i generally dont prefer transfers of big amount between family members. and keep the accounts separate as much as possible. like i said, fund transfers between family members needs to be shown as either a loan or gift or income. If not an income but will have to be justified to IT officer in...
Acceptable. However just try to keep the accounts separate as much as possible.
Money transfers between family members will have to be shown as either loan or gift or reimbursement of expense.
Unfortunately most of the people don't maintain accounts hence don't consider this important..
You can reach out to me in DM.
Dont worry wont charge anything unless there is too much time investment and too technical. Glad to help everyone for all the basic tax related queries.
Payments on credit card are only reported. paytm, mobikwick or any normal banking receipt/ payments are not reported directly but anyway its a digital transaction so tracking it in case of scrutiny assessment should not be a problem for officer.
there is no such threshold limit. just dont spend extraordinary amount when you are not even filing ITR. Everything is linked to PAN database and can be easily tracked.
Ensure that such use is limited. 0 income and substantial spending will require you to justify everything to income tax authorities. No reward point/cashback is worth the hassle.