CC APPLICATION - ITR LIMIT

[drabhishek90]

We know that there is always an ITR limit for super premium credit cards. There are 2 types of ITR forms.
ITR-3 for businessman which includes detailed computation.
ITR-V which will all know is the final gist.
Difference between these 2 is that ITR-3 does not include all the deductions made for business. So the profit is much larger than that in ITR-V.

My question is that can we apply for Super Premium cards using ITR-3.

Note : I asked my HDFC RM. He had no idea of these things. He said we have always used ITR-V only. But I got my Amex Platinum Charge card today using ITR-3.

 

[newinnov]

We know that there is always an ITR limit for super premium credit cards. There are 2 types of ITR forms.
ITR-3 for businessman which includes detailed computation.
ITR-V which will all know is the final gist.
Difference between these 2 is that ITR-3 does not include all the deductions made for business. So the profit is much larger than that in ITR-V.

My question is that can we apply for Super Premium cards using ITR-3.

Note : I asked my HDFC RM. He had no idea of these things. He said we have always used ITR-V only. But I got my Amex Platinum Charge card today using ITR-3.

Your RM is incompetent! Banks require your taxable income eg. for itr4, it would be 1/2 if you opted 50% profit
Does not matter what number form you fill

 

[drabhishek90]

So how did American express asked for ITR-3 only???

 

[newinnov]

So how did American express asked for ITR-3 only???

"file ITR-4 only if his annual receipts are less than Rs. 75 lakhs. If his income is more than Rs. 75 lakhs, he has to file ITR-3."
if your card has eligibility upwards 75 lakh then only itr3, which I doubt they have

 

[drabhishek90]

"file ITR-4 only if his annual receipts are less than Rs. 75 lakhs. If his income is more than Rs. 75 lakhs, he has to file ITR-3."
I agree with this line..

but i dont understand what you mean by "if your card has eligibility upwards 75 lakh then only itr3, which I doubt they have"

 

[newinnov]

"file ITR-4 only if his annual receipts are less than Rs. 75 lakhs. If his income is more than Rs. 75 lakhs, he has to file ITR-3."
I agree with this line..

but i dont understand what you mean by "if your card has eligibility upwards 75 lakh then only itr3, which I doubt they have"

e.g- biz black metal has eligibility of 30 lakh which is sufficiently covered under itr4