Query about "Personal Annual Income"

66°
Deal Subedar
Ramta_Jogi

This particular phrase “Personal Annual Income” – Does it include only the salary income or Income from all sources? Salary income of the person in question in 5 lakhs and ITR is 40 lakhs (Capital gains). But then he is not self employed so how does he apply for credit card – which asks for Personal Annual Income of 12 lakhs?

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Deal Subedar Deal Subedar
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soccergiants wrote:

It is including all Sources

But then he is not self employed so how does he apply for credit card – which asks for Personal Annual Income of 12 lakhs?

Deal Captain Deal Captain
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Ramta_Jogi wrote:

But then he is not self employed so how does he apply for credit card – which asks for Personal Annual Income of 12 lakhs?

Income can be from Sources like ancestral properties, investments, house rent,etc.. A person can be unemployed but might get monthly income from these avenues.

Deal Subedar Deal Subedar
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ITR will show income cumulative income?
Also capital gains are not a very steady income so will they ask last 2-3 years ITR?

Deal Subedar Deal Subedar
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soccergiants wrote:

Income can be from Sources like ancestral properties, investments, house rent,etc.. A person can be unemployed but might get monthly income from these avenues.

These come neither under Salary nor under self employment (business income/Profession alone?)

Deal Subedar Deal Subedar
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jainashish85 wrote:

ITR will show income cumulative income?
Also capital gains are not a very steady income so will they ask last 2-3 years ITR?

ITR of previous years is not an issue. Issue is the “employment type”

Deal Subedar Deal Subedar
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Guy is salaried. Apply CC saying salaried.
Provide them ITR copy .Personal Income consider income from all sources

Deal Subedar Deal Subedar
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Sudarshan61 wrote:

Guy is salaried. Apply CC saying salaried.
Provide them ITR copy .Personal Income consider income from all sources

Hope it works. Thanks

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