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AIS & Credit Card Usage Notice
- Thread starter gopal sharma
- Start date
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- Tags
- ais credit card money rotation
Rocky Bhai
TF Prestige
Police waale ka beta hai evidence mitana uske liye baye hath ka khel hoga 🤣
No big deal 🤝
Shubham Yadav
TF Prestige
Because he use this technique to elimination all obstacle to create his wealth through powerfull and highly rewarding credit card
Shubham Yadav
TF Prestige
Alright, I approved this post yesterday, and I was like, 'Damn, how did this person come up with this calculation - 50 x 2000?' It made me think about UPI. Why did it come to my mind? Well, it's because the reward rate isn't there. In UPI, RuPay cards with a 1.5% cashback and NeU cards are the best options.
Then, there's the issue of capping. I wondered why OP went for it. I've read some comments, and some people are blaming a particular two/three YouTube channel. So, financial well-being should be considered very important, and minors shouldn't have credit cards until they start earning. They should also limit their screen time, parent should set passwords.
Another thing I noticed is that while there are so many comments, very few actually helped the original poster (OP). But this mistake isn't justified either. It's nice to see the turnout of people. I did miss their quirky comments. All making fun of the situation should be considered as funny or sarcastic.
Then, there's the issue of capping. I wondered why OP went for it. I've read some comments, and some people are blaming a particular two/three YouTube channel. So, financial well-being should be considered very important, and minors shouldn't have credit cards until they start earning. They should also limit their screen time, parent should set passwords.
Another thing I noticed is that while there are so many comments, very few actually helped the original poster (OP). But this mistake isn't justified either. It's nice to see the turnout of people. I did miss their quirky comments. All making fun of the situation should be considered as funny or sarcastic.
Lakshya Mahani
TF Ace
Bhai Cashback toh theek hai, aapne yeh nahi socha ki yeh jo paise aap apne papa ke card se apne merchant account mein transfer kar rahe ho yeh aapki income hui na, aur jab aap ITR file hi nahi kar rahe toh current account khola hi kyu aapne, sirf cashback ke liye?
In my opinion, all this hassle should not have been done just for cashback, bhai yeh bhi toh sochte na, ki aapke father ki ITR 8 lakhs hai, toh aap ITR ke aas pass tak hi spend karte, 56L is way too much. Jitna cashback aapko mila hai, usse zyada toh shayad tax dena padega aapko. Moreover, papa ko sab sahi se bata do, kyuki aapne abhi na bataya toh IT wale notice bhej ke bata dengey (in worst case scenario)
CA bhi dar jayega ek bar toh is case mein.
In my opinion, all this hassle should not have been done just for cashback, bhai yeh bhi toh sochte na, ki aapke father ki ITR 8 lakhs hai, toh aap ITR ke aas pass tak hi spend karte, 56L is way too much. Jitna cashback aapko mila hai, usse zyada toh shayad tax dena padega aapko. Moreover, papa ko sab sahi se bata do, kyuki aapne abhi na bataya toh IT wale notice bhej ke bata dengey (in worst case scenario)
CA bhi dar jayega ek bar toh is case mein.
Rocky Bhai
TF Prestige
Kya baat kar rahe ho 🤣
Adani ka case study nahi kiya kya kaise 1 chote se CA firm ne karodo rs ghumaye the
Ye to sirf 56L hai 😂
Kuch nahi hoga gopal ko 🤣
CA bhi bas kuch numbers idhar udhar dal dega aur hogaya
Bhai Radhe Krishna bhajo.
Ab wo hi nikaal sakte hain aapko is vipada se.
Radhe Radhe
Shubham Yadav
TF Prestige
Lekin OP kaha h ?
@gopal sharma See there is nothing to fear as you haven't done anything illegal till now. Only you have to pay taxes and disclose these txns, a good CA can guide you through the process. I will strongly suggest you to just pls visit a reputed CA in your city and get the return filed showcasing these txns.
Lakshya Mahani
TF Ace
Bhai usne papa ka credit card use nahi kiya tha na, jo kiya tha khud kiya tha toh uske liye aasan tha fir bhi 😂 😂 😂 😂
He won't face any issue,his father will
Lakshya Mahani
TF Ace
😂😂😂😂😂
VISHESH_BANSAL
TF Pioneer
OP ka naam Gopal hai adani nhi, jo CA numbers ke saath khelega.
His father also won't as far as these txns are shown in the ITR. Thing is IT department don't care until you are paying taxes to them for whatever you have earned, as soon as you try hiding the income they come after you.
Lakshya Mahani
TF Ace
Exactly 😂 😂
Credit card bill paid is above 56l, ITR is 8-10l, that'll be the issue.
No it won't be as it means only it will be shown in AIS and when we are disclosing these 56L worth txns and paying taxes on the profit then what problem IT department will have?
Santanu.Sen
TF Buzz
You have nothing to worry about. I have a business and I transact crores of rupees every year all through credit cards. Not only mine, but cards in my mother's and sister's names. I have consulted my CA also regarding this. He says its fine as long as you can account for every rupee you have spent. In this case whatever you are "spending" comes back to the same place only, i.e. in either your or your father's bank account. If they send a notice, you can provide a written statement from your father stating that he has given 1 lakh as a loan to you and that you are paying him back every day repeatedly.
But Keep in mind one very important thing. CREDIT CARD REWARDS IS CONSIDERED TO BE TAXABLE INCOME, under "Income from other sources". So you need to show that when you file your ITR and it will be taxed according to your tax slab.
Apart from that you have nothing to worry about.
But Keep in mind one very important thing. CREDIT CARD REWARDS IS CONSIDERED TO BE TAXABLE INCOME, under "Income from other sources". So you need to show that when you file your ITR and it will be taxed according to your tax slab.
Apart from that you have nothing to worry about.
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