Pay Tax on Cashback exceeding 50000
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https://www.moneycontrol.com/news/business/now-...
We may need to pay tax on cashbacks exceeding 50000 as gift tax
Admin plz don’t move the topic for couple of days..
Jitna time and money waste karenge mere cb dhundhne me usse jyda cost lag jayega inko.
Hey to all
Google : Cashback or promocodes for paying tax
Tax For what ?
For earned 50k cashback
Humko tax bhrne pe b cashback chahiye re baba
And then include that cb in income again.. pay tax on this.. need cb on that tax.. pay tax on this cb income…
Where the hell am I going..??
in a financial year..overall..from all sources
@ashutoshsubudhi This is hot topic not a hot deal , this should be posted in Dost & Dimes Section !
@navinu88verma79 using other languages should also need to.provide English Translation always & using Political words always allowed only in Political Section !
So this topic will be moved to correct section soon & needed action will be Taken !
the provision had been there for many years. it actually covers more than just cashbacks and include all receipts without consideration.
however, now with everything getting linked to PAN/Adhaar and the IT dept getting fully computerised, the possibility of detecting the total such receipts is more.
Virtually impossible to keep track of all the cashbacks earned during the whole financial year. Do they count discount as cashback also?