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Credit Card Reply against IT Notice and other concerns
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My concern is regarding expenses of credit cards increase day by day and rotation of money also but how to give reply to IT and If AIS show 60 lakh and above how to show in ITR.
please give suggestions its not my problem its majority problem of dimers.
if expenses of 60 lakh by credit card after deduction of 2% withdrawal charges and any other charges total net profit are 2 lakh how to explain to IT only i eran 2 lakh not 60 lakh . I have udhyam registration no.
Its a big problem.
please give suggestions its not my problem its majority problem of dimers.
if expenses of 60 lakh by credit card after deduction of 2% withdrawal charges and any other charges total net profit are 2 lakh how to explain to IT only i eran 2 lakh not 60 lakh . I have udhyam registration no.
Its a big problem.
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https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9763950
different CA giving different answers
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https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9763952
koi kheta ha liabilities ma dikhao koi kehta ha ki kuch mat karo kuch nhi hoga, koi kehta haan income dekhao kis kis ka mana sab lootna ma laga rehta ha ki client ko kaisa chootiya bnakar paisa kha laa
https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9764233
Giving transaction statements. For 60 lakhs show it as business expenses. 30 buy 28 sell 2 loss. Rip the ITR🥰
https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9764335
How did u not know u would get it notice for above 10L P.A spends...playing with fire without knowing u would get u hand burnt ? 
Only a C.A can help u
https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9764583
I already know it but some emergency circumstances and requirements .
https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9764795
The answer varies from person to person .... all can be correct !!! Have you thought of it ? .. one question has one answer only in utopia.
Leaving alone can work unless you get a notice. Its a play between risk and reward. Some like to reply and finish off. Answer changes for business people and salaried people. Answer changes if you have filed itr and if you havent filed itr till date. So .... all the views can be correct ! https://en.wikipedia.org/wiki/Blind_men_and_an_... bad example but hope it drives home the point.
https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9764922
U need to File ITR 3 as a commission agent, maintain books of account, balance sheet and pnl
Deal in no cash all online traceable trans, a CA can file business income for you, no issues\
https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9765066
I filling ITR 4 already but why i show business income its a liability for me. Income is a minor part of whole transaction.
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https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9765116
Just now I checked in my SBI spend analyser
₹1281192.35 | 202.4%
of net spend
₹632920.72
243 transactions
So my spend this year is 6,32,920 ?
Or12,81,192 ??
https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9765186
same question
https://www.desidime.com/discussions/credit-card-reply-against-it-notice-and-other-concerns?page=1#post_9779371
anyone have contact of a trusted ca here? I am facing the same issue althogh the amont is not that much
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different CA giving different answers