Is it possible to send money to parents and stating it as the rent?
Even if I don't stay with them?
Possible to save some tax there?
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RBI Cracking Down on P2P Credit Card Transactions (Rent)
- Thread starter rogerthat
- Start date
Even if I don't stay with them?
Possible to save some tax there?
Not just p2pSo the rent payment party too will soon come to an end. RBI is tightening the screws on the credit card business and especially on VISA/MasterCard from all ends.
RBI cracking down on P2P credit card transactions
RBI cracking down on P2P credit card transactionswww.thehindubusinessline.com
RBI making certain instructions that only certain merchants can opt for card txns. Already asked merchant service providers to figure out which category merchants are eligible to opt for card payments.
Yeah of course, for below 10k need last 3 months statement and for above 10k need agreement.......RG
Thats OG advice of any tax filer who want to claim deduction
Only if you're not claiming rent benefits already from somewhere else
indeed . 🫡
Only for novices,others already know as this is the most popular & easiest to implement.
one person can rent 2 places, right? so tax benefits from all?
Any number of,but it has to be in his ITR
BhaiyaJi
TF Legend
Why only EMIs? They should allow credit card payment also 🤣
panchabhut
TF Ace
Earning children are separate family units. So nothing wrong with paying rent if they are staying with their parents.
they do
there is something called as balance transfer which is chargeable
Kuch bhi. .
They can’t control inflation which is their primary job. They are controlling common man using credit card for Rs.20,000 liquidity and Rs400 rewards.So the rent payment party too will soon come to an end. RBI is tightening the screws on the credit card business and especially on VISA/MasterCard from all ends.
RBI cracking down on P2P credit card transactions
RBI cracking down on P2P credit card transactions
BhaiyaJi
TF Legend
Maybe by reducing card to bank they want to reduce no cost liquidity and credit card debt.
Inflation is controlled 4-6% mostly .
Since policy came
But they fuckn killed crypto currency hype with cbdc & no one uses them
Users are increasing ..
India is 100 billion dollar short in giving loans to msme .. ( 100 billion dollar loan should have been distributed but it isnt)
Now dry credit fund ..( i don't think so )
Are we going privatization or
Economic emergency
Post banking scam scandal in 2017 .. banks are green now & should lend more but in effective way to avoid crisis again
Not defending them, but stability of banking system is also RBI's responsibility. Allowing rent payments on CC leads to deferment of rent payment, which probably leads to higher discretionary consumption, but also increases indebtedness of households (not everybody is a points hunter - there are people who are hard up and could be using rent by CC for that purpose)
I don't think RBI or Govt is bothered about indebtness of households. In fact it is the other way around. The policy seems to be to discourage saving and to encourage spending everything we get and some more. And that too via UPI, in that way all bank account get emptied seamlessly and the money stays circulating in the system.
