Add money in saving account through credit card-- will it add your gross income????
- 623
- 3
-
- Last Comment
By adding money through a credit card to your account. Will it add your monthly income and pay income tax at year-end.?
Currently, many apps offered to add money to an account through a credit card and we used that money in our daily expenses or investment.
Will it create trouble for us I mean will it add in our monthly income? and be required to pay income tax as per Govt rule.
2 Comments
|
3 Dimers
- Sort By
https://www.desidime.com/discussions/add-money-in-saving-account-through-credit-card-will-it-add-your-gross-income?page=1#post_8098381
Credit card money is similar to loan money which you have to repay back to card issuer so no issue with that unless, however if you add money in wallet & send it merchant accounts then this may create issue. If you are doing this just keep it in limit/ calender year.
Click here to reply
Reply
No. As long as you pay back, no. However, if you are using rent pay or something similar, the person receiving the amount has to add the rent income.