rdargar
TF Premier
You only need to file a Zero ITR + Late Charges + Penalty . No need to declare taxes if Cashback is less than the basic exemption typically 2.5L.
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Credit Card utilisation above 10 lakhs
- Thread starter marvel
- Start date
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- Tags
- credit card income tax
God bless you ... don't repeat the same / similar mistakes !!!
marvel
TF Premier
Sure brother. Thank you.
Abhishek012
TF Pioneer
Tejo
TF Legend
Yar i know but it people will be on your back .
You have used 10 lakhs in a annum on average a month you hold that 10 lakh .... it will sure hurt it people if you say you 1% while using money of others.
Atleast report as 3%, how did you paid cc bill?
Else talk to ca
yes, it is most likey for the previous financial year ..
Tejo
TF Legend
I speak better Telugu than u..
I'm very sorry if you can't understand my Tenglish. But how can a bot can understand When compared to a man .....
Sorry to say, but one of the worst advice.
You have heard about computers? These days notices are sent automatically then responses are checked by officials. Once the notice is out, you will have to provide response. The communication is face less so everything is official.
So, yeah don't make the mistake of taking this lightly.
Abhishek012
TF Pioneer
I was joking bro, I have already understood what you said.I'm very sorry if you can't understand my Tenglish. But how can a bot can understand When compared to a man .....
woh toh mujhe apna gaana share krna tha toh dialogue maar diya.
Is it your voice or AI?I was joking bro, I have already understood what you said.
woh toh mujhe apna gaana share krna tha toh dialogue maar diya.
CA ka fee most probably kitna hota hain ?? Normally I am asking.... Unlogo ka fees ka range ka 500-1000 Aisa hota hain ??
A good CA will charge you a minimum of 1k to 2k depending upon services required and location
Accha ....Maine metro city seye belong karta huin .i.e Kolkata....
Abhishek012
TF Pioneer
Kolkata toh garib logo ka city hai, saste me mil jayega koi.
Pack_of_Cards
TF Premier
It will be a lame excuse like "I haven't done my homework because my dog ate it" moreover which replying to notice he will have to explain transactions done via submitting card statements, this 1-2% commission on business will not hold strong. Plus there will be a question as why all the bloody commission is coming via an app and in form of a card statement.
Best advice as @S S V already told get a CA.
Pack_of_Cards
TF Premier
I guess you already got some good advice here. One thing I would add that nobody can touch you legally like in a court of law as flaw here is in the bank system itself plus reward points/cashback is also agreed by bank but think about it, as it is not an ideal situation to start the carrier (u are student) plus in future if a big MNC hires you they do background checks and it will be hard to explain an IT notice.
I would say don't repeat this plz
I agree.
Unfortunately, I disagree.
What @Pankhuri meaned to say (that you may not have taken in) is...
IT dept person he talked to, may have exaggerated when mentioning 1cr, but Pankhuri is just a messenger when sharing his knowledge.
cassius
TF Buzz
I can see the terror people have on getting notice from IT department.
There is always a solution, you just need to contact the right person. You should always file ITR if you are above exemption limit. If time has elapsed now and notice is for earlier AY, file for condonation of delay before your jurisdictional Principal Comissioner of income tax to file ITR . No need to worry much
There is always a solution, you just need to contact the right person. You should always file ITR if you are above exemption limit. If time has elapsed now and notice is for earlier AY, file for condonation of delay before your jurisdictional Principal Comissioner of income tax to file ITR . No need to worry much
