Do we have you report Paytm, Airtel payments bank while filing your ITR?

[prashu]

Hi Everyone

1. For Filing ITR , do we need to provide the payments bank ?

2. I have a merchant Qr and i am accepting money from my friends rupay card and also making transactions from my rupay cc to my merchant qr which will be credited in my bank.. My package is 4LPA and if i want to file ITR , is there any consequences if the transactions will cross this 4L per year ?

 

[Deleted member 11974]

it will automatically get reflected in your ais
if a query is raise just be able to explain it

 

[D₹V]

Yes sir, it'll count as income.

 

[Deleted member 11974]

from friend yes
from family no
it can be shown as gift
be reday with explaination

 

[PSC_Infinia]

from friend yes
from family no
it can be shown as gift
be reday with explaination

If we self transfer i.e. from our own credit card to own merchant account, will it be count as income?

 

[Deleted member 11974]

If we self transfer i.e. from our own credit card to own merchant account, will it be count as income?

all will be counted as income as this qr is given for buisness purpose and your pan is linked to it
just explain that you had emergencies in your house so you removed money from cc and later repaid it
as long as money isnt being laundered IT wont have a problem
but if you do it above 20/40Lakhs you would be required to pay income from buinsess sources

 

[PSC_Infinia]

all will be counted as income as this qr is given for buisness purpose and your pan is linked to it
just explain that you had emergencies in your house so you removed money from cc and later repaid it
as long as money isnt being laundered IT wont have a problem
but if you do it above 20/40Lakhs you would be required to pay income from buinsess sources

It's under 10 lakh