See if you've transferred small amount then no one will interfere. However if your transactions are big then authorities may ask the source of income in paytm wallet.
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Payzapp concerns
- Thread starter phani11
- Start date
But tell me one thing - credit card is a loan product and transferring from that to your bank account - shouldn't it be considered as a loan rather than income ?
I don't have much idea on this so wanted to understand as well.
Loans aren't taxable in India hence it may not be considered as income. But any unusual credits in your bank account would fetch attention and you have to submit proof of everything.
devine_mortal
TF Premier
It'll fall into category of Income. There had been a case in US where a guy would purchase vouchers from his Amex to earn cashback and used those Vouchers to buy money orders and put that money back to his account. That way, he earned $300K as Amex had no capping. At last, Amex took him to court and asked for the money he made due to this loophole but the court rejected and asked the person to only pay tax on the money he earned.
Ref: https://www.godsavethepoints.com/300k-credit-card-rewards-irs-amex/
Artharth: Use this loophole until it lasts as it'll be plugged soon IMO.
Ref: https://www.godsavethepoints.com/300k-credit-card-rewards-irs-amex/
Artharth: Use this loophole until it lasts as it'll be plugged soon IMO.
for those who want to pay bill for bank of baroda cc you don’t need to transfer from payzapp to paytm via uber to bank ac
You can directly load to payzapp ac and pay vai the payzapp app for bob cc i think kotak should also work haven’t tried it personally for kotak
You can directly load to payzapp ac and pay vai the payzapp app for bob cc i think kotak should also work haven’t tried it personally for kotak
devine_mortal
TF Premier
Btw guys, which is the Beta app for Payzapp, aka Payzapp 2.0? On PlayStore, I see only 1 app with 2.3 rating, is that the one?
Yes that is the one 2.0
The older one might have been delisted from the Play Store.
Seth
TF Premier
If we load Airtel wallet via Flipkart Axis will it give 1.5% cashback?
Or loading fortum wallet?
Sorry! Haven't tried this
Seth
TF Premier
Okay Thanks 👍
Can we use payzapp wallet balance for all BBPS transactions or only for bob and kotak card bills? And what about non BBPS transactions?
@VISHESH_BANSAL @Wealth is my birth right!
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We can't use payzapp wallet balance for paying cc bills... kindly let me know if you have used wallet balance for cc bill payment
For cc bills paying u have to move the payzapp wallet balance to paytm via Uber
@Wealth is my birth right! Can you confirm this
VISHESH_BANSAL
TF Pioneer
For BBPS Billers available on Payzapp
We can use Payzapp Wallet Balance directly.
Kotak and BOB are BBPS Billers.
just tried to pay bob cc bill..doesn't work with wallet balance
VISHESH_BANSAL
TF Pioneer
You have sufficient Balance to pay the complete bill ?
If yes then It's patched.
Till last month it is working.
no....maybe thats why not allowing me to pay...anyone else tried paying bob cc bill with wallet balance?
Only paytm route for all card bills w e f today
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