Use my card/ yaper

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Deal Cadet
sharad911

Hi friends, 

Use my card/ yaper apps or website where you can share your card and get some margin also, people who want to use for some offer can do that, while my discussion topic is : i am aware that it will be red flag for your IT but if these kind of app is there to achieve such spend target for make your paid card free than what would be the issue , and we have the proof of the site or app which is doing on behalf, how you can show in your ITR if anyone have input feel free to discuss and share your thoughts ..

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there is tds deduction

Post Mogul Post Mogul
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Apart from what Monu has said, i feel IT department will happily treat proceeds from those websites entirely as taxable income. And as 'other income' unless you can prove you that money lending is your business, and that's another ball game.

If you are in money lending business, you can then claim spends on your cards as expenses for business, maybe!

Critic Critic
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Expenses for business would be in this case, any interest rate/emi charges for converting spend on cards. Whatever is being spend on cards is more like initial investment/capital on which you are earning a profit which is your income.
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Deal Cadet Deal Cadet
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not talking about income but let say if your annual earning is 6Lacs and you spent 8 lacs by cards there will be surely a Notice from IT and giving them judgement about that won't be difficult? 

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