Is cashback received on debit card taxable above ur salary ?
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we in practise generally deals with interest on bank A/c , but when it comes to cashback ,it comes under as a income from other sources.hence taxable,under new regime.
but below 50k cashback is not taxable
Above 50k cashback is taxable, since it deemed to be as gift
remember: you earned income as a cashback you needed to show in your ITR regardless of how much you earned.
Ideally it is. But there's no way to track it. At least for now.
Whatever appears in your AIS and TIS is the one which is tracked by the IT department.
Apart from that, if you have humongous transactions in your CC and DC which are not proportional to your income / Huge number of Foreign transactions you may have to justify those.
It is taxable, but no implication of non-reporting unless you are put under scrutiny
If you have some place left in your slab, then no harm in reporting.
I think upto 10k no need to report