AIS & Credit Card Usage Notice

[Karvanna]

GST or No GST, Once he opened Merchant account in bank its considered as Firm. In this case he is doing business as Individual / Sole-Proprietor. Rules are same for both.

56 lacs transaction means he crossed turnover for GST registration and he should get GST registration and pay 1% composition tax as well or 18% on GST on rewards earned. Just like money transfer business.

What About Savings Account....What Will happen If I Do the Same In Savings Account

 

[RAMESH BABU N]

What About Savings Account....What Will happen If I Do the Same In Savings Account

SB accounts have - technically speaking - a limitation on the number of Trxns per quarter. Current Accounts do not have. The bank may block such a SB A/c.

 

[Shubham Yadav]

Batao iss thread k 17 page ho gaye

 

[Walter White]

Agar AIS me report nhi hua hai toh PNB Branch jao. Unhe bolo ki maine galti se rotate kiya hai. Aap close kar do card aur ITR me mat report karna. Jo penalty lega PNB vo de dena.

 

[deep@vie]

I don't think pnb guys are going to oblige,but still can be tried,no harm in it.

Agar AIS me report nhi hua hai toh PNB Branch jao. Unhe bolo ki maine galti se rotate kiya hai. Aap close kar do card aur ITR me mat report karna. Jo penalty lega PNB vo de dena.

 

[RAMESH BABU N]

Agar AIS me report nhi hua hai toh PNB Branch jao. Unhe bolo ki maine galti se rotate kiya hai. Aap close kar do card aur ITR me mat report karna. Jo penalty lega PNB vo de dena.

What ? ? the last line ? OMG.

 

[Walter White]

What ? ? the last line ? OMG.

I heard from someone that HDFC had asked him to pay 2-3% of the total amount as penalty for rotation and misuse. I seriously have no idea about it. You are the banker. You have a better idea.

 

[deep@vie]

I heard from someone that HDFC had asked him to pay 2-3% of the total amount as penalty for rotation and misuse. I seriously have no idea about it. You are the banker. You have a better idea.

& they must have reported to AIS as well as they're bound to abide the regulations.

 

[Deleted member 5552]

Jald hi itr form me income from rotation ka bhi ek column hoga 🤣

Column is not enough... New ITR form needs to be launched for money rotators 🤣

 

[Walter White]

Column is not enough... New ITR form needs to be launched for money rotators 🤣

Money rotators ko seedha pop up aa jaana chahiye browser pe:

IT Department wants to know your location-1)Accept 2)Not Deny 😛

 

[gopal sharma]

Agar AIS me report nhi hua hai toh PNB Branch jao. Unhe bolo ki maine galti se rotate kiya hai. Aap close kar do card aur ITR me mat report karna. Jo penalty lega PNB vo de dena.

Is it possible kya bank aisa kar skti h kya

 

[RAMESH BABU N]

I heard from someone that HDFC had asked him to pay 2-3% of the total amount as penalty for rotation and misuse. I seriously have no idea about it. You are the banker. You have a better idea.

As I said earlier, Banker may block a SB A/c if it exceeds the set limit of Trxns repeatedly, or may charge a penalty. It is between the a/c holder n the bank.

GOT NOTHING TO DO WITH IT-DEPT or IT'S NOTICE or FINANCIAL VIOLATIONS.

 

[HarshitRajput]

What About Savings Account....What Will happen If I Do the Same In Savings Account

Bhai savings account ho ya current account matter nahi krta....

Nature of transaction kya h vo matter krta h

Suppose mere pas 2 bank accounts hain Hdfc & Icici.... I transfer 50k daily from my Hdfc account to Icici account and then 50k from icici back to hdfc...

Daily 1 lakh ka transaction ho gya account mein or 50 din mein 50 lakh ka ho gya...

In logon k hisaab se to ab Income tax bhi bharo or Gst leke business bhi dikhao...

But I can easily prove these are not business transactions nor my income/earnings from any source, only self account transfers from my one account to other.

In short, Jab tak apke pass justification hai nature of transaction ka tab tak koi dikkat nahi h.

 

[Shubham Yadav]

Is it possible kya bank aisa kar skti h kya

Puri thread chupke chupke dekh rahe ho

Papa ko bataye ki nhi ab tak ?

Bata do

 

[RAMESH BABU N]

& they must have reported to AIS as well as they're bound to abide the regulations.

Till last year, ALL BANKS are made/forced to share the data with ITD/RBI/....

Due to the changes made THIS YEAR, without their involvement or cooperation, RBI/ITD/GST/MCA.... HAVE DIRECT GLOBAL ACCESS to ALL SERVERS N DATABASES of all banks.

REPORTING, thus, NOW IS FULL N AUTOMATIC. NO EXCEPTIONS. NO Hiding or no selective reporting. In fact, it is no longer REPORTING - it is now PULLING OUT of data.

Money Laundering, Hawala, Enforcement Directorate officials have now direct access.

 

[Walter White]

Puri thread chupke chupke dekh rahe ho

Papa ko bataye ki nhi ab tak ?

Bata do

Lagta hai papa gun saath me hi rakhte hai pure time tabhi nhi bataya 😅

 

[Walter White]

Papa ko bol ke Arindam aur Sureka ka bhi arrest warrant nikalvao 😅

 

[Shubham Yadav]

Us youtuber or motu k liye hell mai separate place taiyar kr rahe h yamraj ji with proper planning and structure with Garam tel

 

[Shubham Yadav]

Or us garam tel ka special feature ye h ki kuch jale na jale

Pehele G**d jalti h

 

[Walter White]

Us youtuber or motu k liye hell mai separate place taiyar kr rahe h yamraj ji with proper planning and structure with Garam tel

Arindam aur Motu ka bas chale toh Yamraj ke liye bhi money laundering karenge dono