How much can we spend on credit card monthly or during a financial year without any tax issue or notice,

29°

335
4
Last Comment 2021-02-23

2021-02-23

How much can we spend on credit card monthly without any tax issue or notice, knowing that many of us are salaried individuals?

3 Comments |

3 Dimers

Sort By

https://www.desidime.com/discussions/how-much-can-we-spend-on-credit-card-monthly-or-during-a-financial-year-without-any-tax-issue-or-notice?page=1#post_7408705

Bhalal_Dev

2021-02-23

Link Copied

Cumulative sum of more than 10 lac in a financial year on all credit cards sometimes makes special entry in 26AS. That can sometimes create troubles. But I haven’t seen any case regarding the same till date

https://www.desidime.com/discussions/how-much-can-we-spend-on-credit-card-monthly-or-during-a-financial-year-without-any-tax-issue-or-notice?page=1#post_7408706

Bhalal_Dev

2021-02-23

Link Copied

In a financial year

https://www.desidime.com/discussions/how-much-can-we-spend-on-credit-card-monthly-or-during-a-financial-year-without-any-tax-issue-or-notice?page=1#post_7409008

caks2006407

2021-02-23

Link Copied

keep your total spends less than your total income for the current or last FY
Most important thing is if you rotate your salary/savings nothing to worry.
Cash deposits invite notice, Intl txns too – after some limit like 4-5 lacs in FY