AIS Debit Card (Foreign spends)

[soccer]

Hi,

I saw some folks on Twitter saying that any foreign spends on debit card (be it online or offline) were being specifically shown in AIS as foreign spends even if they were below the 7L threshold. One guy said he had spent only 50K on his DC, but still found it shown in AIS.

Can anybody else confirm whether they're seeing foreign spend amounts for DC in AIS, even if the amount is small?

 

[Alex292929]

Yes, that’s true, I used my debit card for a USD txn. (22k INR)
It was reported in AIS as Remittance under LRS (U/S 206C (1G(A)))

 

[soccer]

Yes, that’s true, I used my debit card for a USD txn. (22k INR)
It was reported in AIS as Remittance under LRS (U/S 206C (1G(A)))

Thanks for your reply.

Interesting; I presume the same (report as foreign spends even if transaction is small) doesn't apply to credit cards? (simply because TCS isn't applicable to them as a mode of payment?)

 

[Alex292929]

I have never seen any CC foreign txn getting reported in AIS.
I spent 2-3 Lacs last year on one my HDFC card but I never saw those on AIS.

 

[Hell_Kitty]

I have never seen any CC foreign txn getting reported in AIS.
I spent 2-3 Lacs last year on one my HDFC card but I never saw those on AIS.

For me they have reported all transactions made via HDFC CC as well as Forex Card under AIS as foreign transactions

 

[Alex292929]

For me they have reported all transactions made via HDFC CC as well as Forex Card under AIS as foreign transactions

was the CC total forex txn more than the threshold?
I also used my Hdfc credit card but it didn’t show up in the AIS

 

[Hell_Kitty]

was the CC total forex txn more than the threshold?
I also used my Hdfc credit card but it didn’t show up in the AIS

Nope. Less than 25k.

 

[Alex292929]

mine was not reported, it was more than a lac

 

[soccer]

Nope. Less than 25k.

Was the overall spend (for + non for) on the cc greater than the 10L threshold?

If not, another alternative theory is that forex cards get treated the same as debit ones, and since they're practically reporting DC's for small amounts, the same bank is covering small CC amounts too for the same user.

 

[Lobogris]

It’s good to know for information purpose but what's the problem if it gets reported?

 

[Hell_Kitty]

Was the overall spend (for + non for) on the cc greater than the 10L threshold?

If not, another alternative theory is that forex cards get treated the same as debit ones, and since they're practically reporting DC's for small amounts, the same bank is covering small CC amounts too for the same user.

Yes overall was >10L.

 

[Alex292929]

Yes overall was >10L.

my total spend was less than 10L and it wasn’t reported.

 

[Alex292929]

To Conclude-

Forex transactions made using debit cards and forex cards will be reported in the AIS, irrespective of the amount.

For credit cards*, the reporting criteria depend on the total annual spending in a FY:
• If total credit card spending exceeds ₹10 lakh in an FY, all forex transactions (irrespective of the amount) will be reported in the AIS. Example: If your total credit card spending is ₹10.5 lakh and forex spending is ₹25,000, the forex transaction will be reported in the AIS.

• If total credit card spending is below ₹10 lakh in an FY, forex transactions (irrespective of the amount) will not be reported in the AIS. Example: If your total credit card spending is ₹8 lakh and forex spending is ₹2 lakh, the forex transaction will not be reported in the AIS.

*AIS reporting is done at the bank level, not the card level. For example, if you have multiple credit cards with the same bank and spend ₹6 lakh on each card, the total combined spending (₹12 lakh in this case) will still be reported in the AIS.

Please let me know if I am wrong anywhere. If this makes sense, @soccer please mark this reply as the answer. Thank you!

 

[RazaDroid]

To Conclude-

Forex transactions made using debit cards and forex cards will be reported in the AIS, irrespective of the amount.

For credit cards*, the reporting criteria depend on the total annual spending in a FY:
• If total credit card spending exceeds ₹10 lakh in an FY, all forex transactions (irrespective of the amount) will be reported in the AIS. Example: If your total credit card spending is ₹10.5 lakh and forex spending is ₹25,000, the forex transaction will be reported in the AIS.

• If total credit card spending is below ₹10 lakh in an FY, forex transactions (irrespective of the amount) will not be reported in the AIS. Example: If your total credit card spending is ₹8 lakh and forex spending is ₹2 lakh, the forex transaction will not be reported in the AIS.

*AIS reporting is done at the bank level, not the card level. For example, if you have multiple credit cards with the same bank and spend ₹6 lakh on each card, the total combined spending (₹12 lakh in this case) will still be reported in the AIS.

Please let me know if I am wrong anywhere. If this makes sense, @soccer please mark this reply as the answer. Thank you!

I have done more than 2 lacs transaction but it's not showing in AIS, what to do?

 

[Lobogris]

I have done more than 2 lacs transaction but it's not showing in AIS, what to do?

Why do you need to do anything ?

 

[RazaDroid]

Why do you need to do anything ?

I'm studying outside India so i need to track