Is transferring rent to own account safe.

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Deal Cadet
noise_pollut...

Like if I transfer from paytm. It won’t be a problem in regards to income tax? Has anyone had any experience?

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Entertainer Entertainer
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is drinking alcohol safe? 

in moderation everything is ok. 

extramarital affair get caught only when they make multiple attempts of you know what to arise suspicions

Deal Captain Deal Captain
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P_A_N_K_A_J wrote:

is drinking alcohol safe? 

in moderation everything is ok. 

extramarital affair get caught only when they make multiple attempts of you know what to arise suspicions

Seedhe talaak pe le gaye bhai to…
@tappukepapa bach ke rehna, Babitaji se jyada chipakne ka nahi… stuck_out_tongue_winking_eye joy

The PostMighty The PostMighty
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It’s like not being guilty until you are caught red-handed. Just like people jumping red traffic signals when no policeman is around. As long as you are lucky, you will not have any bad experience.

Even when you are caught, and if you are able to convince the regulator that you are not guilty, your experience will be really good.

Deal Cadet Deal Cadet
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There is no problem with respect to incometax

You need to pay taxes on actual profits you make, may it be from rewards points, interest from free money etc

However, if u get a notice, you need to explain in detail to officer or hire a CA who will do the same and perform an audit

Cost of which would be 10-20k. So if you are doing do in moderation like max 50k a month, else do it industrial scale like 50L a month. There is no point in making 20k  a year and spending it all on compliance 

Deal Captain Deal Captain
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@tappukepapa AApka bhi number aa gya 😂 Note from DesiDime Team: This post is still under moderation. Your patience is greatly appreciated.

Deal Subedar Deal Subedar
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I have been doing this for past 1.5 years .I file my taxes properly so far no notice . 

But make sure you dont pay more than 50k in 1 month , that is when It dept gets activated 

Entertainer Entertainer
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sauravDD wrote:

@tappukepapa AApka bhi number aa gya 😂 Note from DesiDime Team: This post is still under moderation. Your patience is greatly appreciated.

Mai d&d zone m comment krna hin chor diya hai isliye, kya pta kisi din major se Newbies na ban jaun joy

Deal Cadet Deal Cadet
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add that rent income to your income tax too and you are safe 😌

Kolkata Knight Riders Kolkata Knight Riders
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Kisi Apne ke hi account me transfer karo bhai like your brother.sister,father,mother etc

Deal Cadet Deal Cadet
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Upi txn are tracked by it now. Beware

Deal Lieutenant Deal Lieutenant
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karanoshan wrote:

There is no problem with respect to incometax

You need to pay taxes on actual profits you make, may it be from rewards points, interest from free money etc

However, if u get a notice, you need to explain in detail to officer or hire a CA who will do the same and perform an audit

Cost of which would be 10-20k. So if you are doing do in moderation like max 50k a month, else do it industrial scale like 50L a month. There is no point in making 20k  a year and spending it all on compliance 

may it be from rewards points
how are reward points shown in ITR? In other income?

Deal Cadet Deal Cadet
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kukdookoo wrote:

may it be from rewards points
how are reward points shown in ITR? In other income?

Yes in other income, if doing big scale, file itr 3

Deal Lieutenant Deal Lieutenant
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karanoshan wrote:

Yes in other income, if doing big scale, file itr 3

suppose for 1k spend, reward points in inr worth rs. 100 were given by some app.so rs. 100 is added to other income?

Deal Cadet Deal Cadet
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kukdookoo wrote:

suppose for 1k spend, reward points in inr worth rs. 100 were given by some app.so rs. 100 is added to other income?

Yes, that too upto 50,000 a year is not to be reported 
after that u can add to other income

Deal Lieutenant Deal Lieutenant
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karanoshan wrote:

Yes, that too upto 50,000 a year is not to be reported 
after that u can add to other income

Yes, that too upto 50,000 a year is not to be reported
can u share the section or notification regarding this paji?

Deal Lieutenant Deal Lieutenant
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karanoshan wrote:

https://www.moneycontrol.com/news/business/now-...

https://economictimes.indiatimes.com/wealth/tax...

if cashbacks does not come in bank account but for example in gv form, suppose 10k cashback for 7 online websites.then one has to show 70k cashback in ITR in income from other sources even if it came as gv form? or is it 70k-50k= 20k?

Deal Cadet Deal Cadet
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kukdookoo wrote:

if cashbacks does not come in bank account but for example in gv form, suppose 10k cashback for 7 online websites.then one has to show 70k cashback in ITR in income from other sources even if it came as gv form? or is it 70k-50k= 20k?

20k

Deal Lieutenant Deal Lieutenant
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karanoshan wrote:

20k

thanks paji. KG+
i dont think many people will reveal cashback received as gv in ITR income.

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