New cc to bank account unlimited trick, using lazypay upi

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Deal Subedar
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If you have Lazypay Upi, Tranfer the amount to paytm merchant account. Pay the lazypay credit using credit card.
In paytm merchant account, you can accept unlimited Upi at 0%.

18 Comments  |  
16 Dimers
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Deal Lieutenant
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how to get paytm merchant account?

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Critic
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DealFinder wrote:

how to get paytm merchant account?

Why..?? Is self registration stopped now ??

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Deal Subedar
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DealFinder wrote:

how to get paytm merchant account?

Deal finder, Deal lieutenant Aur aapko nahi pata? Download paytm business app and sign-up using Pancard.

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Deal Cadet
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How to get lazypay upi?

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Deal Cadet
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few days later, lazypay not accepting credit cards

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Deal Cadet
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Can someone clarify if Merchant Account get logged in 26AS ? Since our PAN is registered and Merchant Account means it’s a source of income, ideally 26AS might be tracking it; so we might get taxed on it !!!

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Deal Cadet
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How to get lazypay upi, is it user specific

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Deal Lieutenant
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F7-Dimer-Primer wrote:

Deal finder, Deal lieutenant Aur aapko nahi pata? Download paytm business app and sign-up using Pancard.

Never tried it with worry of tax implications..
Any neat and clean way???

can anyone register as a paytm merchant without any tax implications..a simply question…

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Deal Cadet
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DealFinder wrote:

Never tried it with worry of tax implications..
Any neat and clean way???

can anyone register as a paytm merchant without any tax implications..a simply question…

Exactly this ! Merchant accounts should have tax implications embedded; need confirmation on it…

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Deal Cadet
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It wont have huge tax amount involved, if the amount received in paytm merchant account is considered as turnover, u can declare 6% of it as profit. And negligible tax on it which may get covered under rebate of 12.5k.

I think concern should be, getting banned by paytm for accepting payments from limited unique users or repetitive payments.

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Deal Captain
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BlueFlash wrote:

Can someone clarify if Merchant Account get logged in 26AS ? Since our PAN is registered and Merchant Account means it’s a source of income, ideally 26AS might be tracking it; so we might get taxed on it !!!

Yes , i have the same question , any suggestions on the same

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Deal Cadet
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Where is Lazypay upi app,?

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Deal Lieutenant
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BlueFlash wrote:

Can someone clarify if Merchant Account get logged in 26AS ? Since our PAN is registered and Merchant Account means it’s a source of income, ideally 26AS might be tracking it; so we might get taxed on it !!!

Yes it will be tracked under 26AS.
Got this problem in 2018.
After filing ITR, this came as additional income of 12k.
Got a notice to give clarification on why this was not declared as additional Income.
Paid the tax.
Pledged never to use Sister’s PAN fir such useless things.

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Deal Cadet
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26AS only if TDS is deducted by Paytm

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Deal Cadet
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BlueFlash wrote:

Can someone clarify if Merchant Account get logged in 26AS ? Since our PAN is registered and Merchant Account means it’s a source of income, ideally 26AS might be tracking it; so we might get taxed on it !!!

This is my exact and only concern

I was able to pay INR 1 into my PayTM merchant account from LazyPay Plus.. but stopped further due to the above issue

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Critic
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Don’t use such “tricks” anymore or you will be volunteering(whether willingly or unwillingly) to make a small contribution to shortfall in tax collection. stuck_out_tongue

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Deal Lieutenant
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DealFinder wrote:

Never tried it with worry of tax implications..
Any neat and clean way???

can anyone register as a paytm merchant without any tax implications..a simply question…

Don’t do it man. IT knows everything

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