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Doubt on credit card payment to paytm.please help and clarify.
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Please correct if my understanding is wrong.
I have paytm KYC verified account , suppose I upload 1 lakh RS in the account through a credit card (I will get 2000 points = 1500 RS) , than I can transfer this amount back to bank at 1%. I.e 1000 RS only ? So in this case I saved 500 RS every month and can also waive off credit card annual fees with certain threshold spending.
Please correct me if am wrong in this calculation.
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https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436802
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436821
I have some thing wrong kya 
no one answering every one in shock
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436831
yeah..it is very much possible… but that big amount of transactions can bring you under IT radar….senior dimers can comment!!!
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436834
I am paying sufficient taxes and all is white money.:)
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436869
@harsh300684741 wrote:
I am paying sufficient taxes and all is white money.:)
Well that could be done but make sure you use less than 50% of the credit limit as using complete limit will affect ur credit score. Also make sure you have the records of the transactions from you credit card and to your bank account matched in case of IT query.
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436878
@harsh300684741 wrote:
I am paying sufficient taxes and all is white money.:)
Paanch so ke liya EK LAKH ka jokhim… Bhandu tum dhanya ho… 
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436888
Sirf 500 nai…1 lakh per SBI home loan account pe approx 1 % interest so 1000 RS hence total 1500 . plus 4999 SBI signature card charges waived off.
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436938
do at your own risk
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436993
Appreciate the out of box legal thinking.
What is Rs1500 CB for adding Rs1lac.
Also note that
The daily limit to transfer money should be maximum of Rs. 5000 and monthly limit will be Rs. 25000.
Also you need to add service tax of 15% on 1% transfer charges.
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436995
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3436999
@harsh300684741 wrote:
Sirf 500 nai…1 lakh per SBI home loan account pe approx 1 % interest so 1000 RS hence total 1500 .
Still why come into eyes of authorities? As I see he is planning to do this every month… 
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3437112
1500 RS. Is 2000 rewards point spending via cc
https://www.desidime.com/discussions/doubt-on-credit-card-payment-to-paytm-please-help-and-clarify?page=1#post_3437119
May be not every month only when I am shortfall of hard cash or to waive off credit card fees..:)
Thanks all for your suggestion and help.
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