Golden time to transfer credit card amount to bank at 0% charges instant settlement

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Deal Cadet
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Today Phonepe launched add money to wallet via credit card and pay to nearby phonepe merchant via phonepe wallet.

Create a Phonepe merchant account.
Add amount to phonepe wallet via credit card.
Send the same to Phonepe merchant account qr and get the amount into bank instant at zero charges.https://cdn0.desidime.com/attachments/photos/642212/medium/Screenshot_20201009-081925__01.jpg?1602211789

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Its taxable income for the merchant

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And then get the merchant transactions listed in your 26AS, pay 20-30% tax on it while filing ITR. Enjoy _

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BlueFlash wrote:

And then get the merchant transactions listed in your 26AS, pay 20-30% tax on it while filing ITR. Enjoy _

Bro it’s for urgency/getting reward points for less amount not for lakhs.
And if I’m not wrong then many have merchant account.
If don’t have then use your neighbours (Friends shop) qr to get the amount in bank.

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y to do this much drama for reward points by playing with income tax things using merchant account n all

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ImRebel wrote:

Bro it’s for urgency/getting reward points for less amount not for lakhs.
And if I’m not wrong then many have merchant account.
If don’t have then use your neighbours (Friends shop) qr to get the amount in bank.

Completely agree over the urgency part; yes if it’s necessary for the money, then only do it; later we can always clarify with the itr; but a big NO if the intention is for rewards and doing money rotation. Peace out (y)

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BlueFlash wrote:

Completely agree over the urgency part; yes if it’s necessary for the money, then only do it; later we can always clarify with the itr; but a big NO if the intention is for rewards and doing money rotation. Peace out (y)

100% true..

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ImRebel wrote:

Bro it’s for urgency/getting reward points for less amount not for lakhs.
And if I’m not wrong then many have merchant account.
If don’t have then use your neighbours (Friends shop) qr to get the amount in bank.

First check whether the merchant even accepts phonepe wallet as payment option because most don’t(talking about genuine merchant shops).
@BlueFlash

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