Hello friends
Need an clarification..
People are saying the limit of reporting by bank in SFT is if we pay credit card bills more than 10 lakhs in a financial year..
Please if you could confirm does this Qo lakhs include the payment which I make before bill generation ? Suppose In an year , i made total payments of 18 lacs however out of 18 lacs, 10 lacs were made before bill generation... Then will it be reported by bank as bill payment or not ?
Any experiences ?
What Rule Says ?
Need an clarification..
People are saying the limit of reporting by bank in SFT is if we pay credit card bills more than 10 lakhs in a financial year..
Please if you could confirm does this Qo lakhs include the payment which I make before bill generation ? Suppose In an year , i made total payments of 18 lacs however out of 18 lacs, 10 lacs were made before bill generation... Then will it be reported by bank as bill payment or not ?
Any experiences ?
What Rule Says ?