Income Tax Problem

[Sarthak2005]

Won't i get in problem if I buy Amazon Gift Voucher from SBI yono Gyftr on 3% on my SBI Debit Card/Net Banking worth 10k every month
And Then Transfer that 10k to my SBI Bank account Again Every month?

Is there any chance of me Facing Income Tax Problem?

 

[HarshitRajput]

There should be no problem in doing that...As you are rotating your own money and this is not your income...But if you are earning some cashback or profit in this, make sure it should not cross 2.5 lakhs per annum...If it exceed then you may require to file income tax return.

Also make notes for every transaction with date in excel... Incase you recieve notice in future, you can answer them and no problem!

 

[TheTrickySid]

Won't i get in problem if I buy Amazon Gift Voucher from SBI yono Gyftr on 3% on my SBI Debit Card/Net Banking worth 10k every month
And Then Transfer that 10k to my SBI Bank account Again Every month?

Is there any chance of me Facing Income Tax Problem?

How will you transfer gift voucher to bank??

 

[HarshitRajput]

How will you transfer gift voucher to bank??

There are many ways to do...like pencilton app

 

[TheMentalist]

There are many ways to do...like pencilton app

How does Pencilton app transfer Amazon GV bal??