Credit card UPI for personal use.

[Ekavya]

Hello I have few UPI credit cards with decent limits. I used those cards to send money to my friend's merchant account and then got them back. I had to give 2.36% as UPI fees.
Those transactions were high value transactions.

My question is if I use UPI credit card in this way do I have to face any consequence from Income tax authority?

 

[hellobois]

Hello I have few UPI credit cards with decent limits. I used those cards to send money to my friend's merchant account and then got them back. I had to give 2.36% as UPI fees.
Those transactions were high value transactions.

My question is if I use UPI credit card in this way do I have to face any consequence from Income tax authority?

No major consequence, you will get your card blocked soon for doing heavy business transactions

 

[Ekavya]

No major consequence, you will get your card blocked soon for doing heavy business transactions

Shit Man! 🥲

 

[hellobois]

Shit Man! 🥲

It's ok bro, since you have a few cards let the worst one die in the battle.
Every good cause needs some sacrifices, you have to choose the worst card for this sacrifice.

 

[Ekavya]

It's ok bro, since you have a few cards let the worst one die in the battle.
Every good cause needs some sacrifices, you have to choose the worst card for this sacrifice.

What will happen if I stop using them for high value transactions.

 

[KingAAR]

What will happen if I stop using them for high value transactions.

then mostly they won't get blocked..

 

[Vasuki]

Hello I have few UPI credit cards with decent limits. I used those cards to send money to my friend's merchant account and then got them back. I had to give 2.36% as UPI fees.
Those transactions were high value transactions.

My question is if I use UPI credit card in this way do I have to face any consequence from Income tax authority?

If u asking suggestions..
Write the amount total per card ..

How r we gonna suppose how high is your high value transaction

 

[Ekavya]

If u asking suggestions..
Write the amount total per card ..

How r we gonna suppose how high is your high value transaction

1. 40k transaction on 50k limit card
2. 50k transactions on 4.6 L limit card
3. 50k transactions on 2.6 L limit card.

 

[Vasuki]

1. 40k transaction on 50k limit card
2. 50k transactions on 4.6 L limit card
3. 50k transactions on 2.6 L limit card.

So just 1.4 l transaction.. in total

 

[Ekavya]

So just 1.4 l transaction.. in total

Multiple transactions of 50k . For past three months. But for a single card never made more than two of 50k transactions

 

[Vasuki]

Multiple transactions of 50k . For past three months. But for a single card never made more than two of 50k transactions

Bhai thats what i asked ..
Total batao.
In which how much u total spent it on each card of which bank

 

[girish3456]

Hello I have few UPI credit cards with decent limits. I used those cards to send money to my friend's merchant account and then got them back. I had to give 2.36% as UPI fees.
Those transactions were high value transactions.

My question is if I use UPI credit card in this way do I have to face any consequence from Income tax authority?

Not exactly but your card issuer (bank) may consider suspect those transactions and may block the card and may ask the justification for those transactions