income tax

According to taxconcept webpage, UPI transaction to bank accounts will now be considered as income and will need to be reported in income tax!! Refer the article below. https://taxconcept.net/income-tax/upi-transaction-limit-in-bank-account-as-per-income-tax-2024/

I will be paying income tax of about Rs.3 lakhs, planning to get ICICI Amazon pay or Standard Chartered Smart Cashback card for the same. Please help me with the following: How soon the card application be processed? I am an existing customer of SCB but no relationship with ICICI Would any of...

As I calculated, I have to pay just over 1L as ITR tax due within the end of next month. I have the below cards (not mentioning all the cards): Yes marquee SBI cashback Icici sapphiro and APAY IDFC wealth AU Zenith HDFC neu infinity Bob premier Kotak Myntra Federal Imperio Axis Airtel Please...

ICICI Bank interests not showing up in Form 16AS or AIS. Today is June 10. What to do? Pls suggest.

Is it a viable option to pay the income tax of me and my family members to hit the 7.5L spends criteria required for Infinia? I have a regalia gold with a limit of over 8L. Right now, I am short 2L and by the time I have to pay the taxes it will be about 3.5L. Will this be an issue for HDFC...

This financial year is ending on 31st march and as a Bank requirement by tax laws of India Banks & Financial institutions will be reporting some transactions to Income Tax department. So, check the below article to know about: What transaction may invite the IT deptt. scrutiny? How to respond...

Can I get income tax notice if I use my 4 rupay credit card transactions of 18 lakh in a month, since they all are rupay, hence I am not using my own money, just withdrawing it from cc and paying back to cc, so 60k a day * 30 days=18 lakh monthly through rupay credit card upi? so basically i...

For taxpaying individuals with old regime, NPS sounds like a good option to save some taxes while being able to invest our money for retirement. But does the 'Income Tax Saving' really help in the long run? Does Investing more in NPS (as a result of tax saving) actually translate to a bigger...

I use my hdfc debit card and jupiter debit card to reload wallet. I usually have Rs 20000 and use the same 20k to load wallet and transfer to bank and again load wallet. I am using the same money for loading upto 1lakh per month. Will this get any income tax notice or something like that?

Hi , I know that there is a 10L spend limit on credit cards for a financial year by the IT dept. I wanted to know if I spend 5L on 3-4 cards of different banks, which cummulatively will amount to more than 10L, but will be less than the 10L reporting limit, will the banks reports these to IT...

i never filled ITR before this year i did transaction across 5 banks total of 50-70l , mostly it was like fd break ,create and sending money from my one bank to another. and there were total of 4l cash deposit earned 40k in stocks lost 12k in fno i have no job so i have to pay taxes? i do not...

I have recently made 2 transactions worth 20k each and had to cancel due to some reasons. So the bank has refunded my amount back to the credit card. If total credit card payment received for a credit card is 10 lakhs in a financial year, then banks will report to Income tax and it will appear...

Gst Portal Now Accepts Credit Cards. Just DCB & Amex Excluded. Attaching Pic for Charges Details. Information source: My CA

Dear All, As we know that the spends of Rs 10 Lakhs and above on a single credit card with bank are reported to income tax some may get notice for high usage if not filed IT returns or huge mismatch of the spends and returns. I got a doubt, for example ICICI card gives two variants of...

Hi Which card is best for advance tax payment. Currently I have Axis Atlas, HDFC Infinia, ICICI Emerald Emirates. Please suggest which is best among there and is there any other card which gives good rewards for income tax payments, then pls suggest those also, will apply for them. Thanks!

Hi guys I am a student and I have HDFC rupay credit card. During the introduction of credit based upi I found a hack which allowed me to transfer from credit card to bank account without any fees. Since I earned reward points on that I mistakenly made transaction above 10 lakhs. Today i received...

Hi guys I got the SC ultimate card around 11 months ago. Since the renewal fee will be charged in a few weeks, I am thinking whether I should keep this card. I am not happy with the current rewards catalogue. The only voucher that I can use is Uber and that may be removed in the future as well...

Hi everyone, I need to do advance tax payment. Can anyone please tell me if tata neu CCs are available as UPI to do tax payment. What are the charges and do we get 1-1.5 % reward just like any other UPI transaction? Also, I've airtel axis card. Would it give 1% on tax payment?

I usually pay advance tax every month, currently holding Axis Magnus ( with Burgundy ) + HDFC DCB ( aiming for Infinia soon ). with magnus preventing ERs on govt. transaction and HDFC not paying any from the very start. I am looking for other options. With some light research i found out amex...

Hi, i have to pay around 1.4L income tax by the end of this month. And I'm thinking what credit card would be best for this so I can get maximum Cashback. I'm considering HDFC Business MoneyBack, it gives 5% but I don't know if there's any capping on that. Other options I have are Amazon Pay...