Implications of transfering money through BharatNXT like card closure or any trouble?

[CardTox]

Earlier BharatNxt was a nice app for rotating the money (of course to some other person's account). Now Bh*Nxt increased the charges and in stead of account payee now they give the option as business payments. My concern is that are you guys still using Bh*Nxt to transfer money from your CC to saving account? apart from the charges, what are other implications of doing so? I mean whether card gets blocked or temporarily or permanently withdrawn for doing so? What are the reward points on Magnus, SBI Simply Click and other popular cards for doing so so that we could our extra fee for transfer. I also heard guys are successfully paying their cc bill from one cc to another using Bh*Nxt only..... kindly enlighten...

 

[ashishsinghi]

Even i need to know about this..I think this will be counted as income in the hand of recipient and recipient has to show it as income in his/her ITR at year end..

 

[CardTox]

Even i need to know about this..I think this will be counted as income in the hand of recipient and recipient has to show it as income in his/her ITR at year. Actually thats not the issue, as you can rout the money to such person's account (like your spouse) who is not earning or not a saalaried person), hardly there will be tax implications for a prson till 7 lakhs per annum. My concern is how does that impact the credit card holder who is making such payment using his CC?

Even i need to know about this..I think this will be counted as income in the hand of recipient and recipient has to show it as income in his/her ITR at year end..

Actually thats not the issue, as you can easily rout the money to some other person's account who is not earning or not a salaried person. My concern is to know the implications upon the person who is holding the credit card and using his cc for such txn using bha*tNxt..... Will ever the card be blocked or smthng show reasons or justify the expenditure kinda letter be issued by the bank?

 

[Tocoliso]

Yes someone in group got this notice. So definitively they are watching and will not shy away from blocking also.