Hi Team,
I have been using my DCB Plastic LTF for last 3 years. It was having around 6L limit. But in last September 2023, my credit card limit got reduced to 1.7L due to the transactions I made from single merchant. each tranx about 1L ... 4-5 such transactions in a month.. and then pay bill...
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...
My father is policeman and he filled itr of 8 lakh. I am using my father pnb rupay credit card for reward purpose,i opened a 1 merchant account in bob bank and by using bob account i do a daily transaction of 1lakh ruppe from my father pnb rupay cc by upi.the amount i recived in my account i...