ICICI PAYLATER MONEY TRANSFER TO BANK

ICICI PAYLATER MONEY TRANSFER TO BANK

165°
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Deal Cadet
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In case someone has ICICI pay later , you can add the money using UPI Id in Mobikwik.

Kindly note that buy liquid funds in Mobikwik and  select the option as Lumpsum and do a add money of 2000. Repeat it till your PAYLATER amount is utilised.

Now either earn interest on liquid funds/ sell it and transfer it to bank.

Now on last day of the month repay it again and again repeat this procedure next month.

13 Comments  |  
9 Dimers
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Deal Cadet
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One more best option is to add directly to your bank through add money option. This is available for IDFC BANK , I do that everytime

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Deal Cadet
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@ op risk profile buying liquid funds?

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Deal Cadet
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You can transfer to bank through Airtel payment bank add money option….. But limit is 2k per transaction.

2nd if you want to transfer total money, use Google pay marchant account.

Why to invest and loose. Provided above trick, instant transfer.

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Deal Cadet
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midfold wrote:

You can transfer to bank through Airtel payment bank add money option….. But limit is 2k per transaction.

2nd if you want to transfer total money, use Google pay marchant account.

Why to invest and loose. Provided above trick, instant transfer.

Any trick to get marchant acc for a normal consumer?

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Deal Cadet
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Is ICICI savings account necessary to get paylater?

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Deal Major
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xera0117 wrote:

Is ICICI savings account necessary to get paylater?

ofc
Even with ICICI Savings acc, PayLater is user-specific offer
PayLater acc is no different than a CC (Even shows as CC on CIBIL report)

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Community Angel
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And be ready for Income Tax Notice.
Missing
Deal Cadet
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If you are transferring it to bank, then no issu es.

In case of liquid fund , calculate the interest income and pay the necessary taxes.

Going by everyone’s logic , keep the money in bank and don’t do any transaction. Because Income Tax department is looking for you.

I suggest people to be financially aware but not scare everyone with the IT phenomena.

Disclose the interest income while filing the return.

As I have mentioned umpteen number of times , this is generation of big data analysis, government has access to all of it.

File ITR bro even if you do not have income more than taxable income , cleartax is free / pay 500-1000 bucks to any CA.

No better time to increase your networth, start early.

Missing
Deal Cadet
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Expand
flawlessking wrote:

Any trick to get marchant acc for a normal consumer?

Yes, download google pay marchant from playstore, create account.

New business , enter your full name as business, enter your address as business address. Business type enter as service.
Next provide account number and IFSC for settlement.

Your account is created, you will get ₹1 in your provided account for verification. Monthly limit will 50k.

Now download qr, and transfer paylater money for free.

Note- within few days, you will get marchant physical qr code by courier.

Missing
Deal Cadet
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@dummyuser – here are the ways to get the money in bank account

Take it to bank account and then use to make credit card bill payment

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Deal Newbie
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Any way through lazy pay to transfer money in bank

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Tech Guru
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rahulkothu wrote:

If you are transferring it to bank, then no issu es.

In case of liquid fund , calculate the interest income and pay the necessary taxes.

Going by everyone’s logic , keep the money in bank and don’t do any transaction. Because Income Tax department is looking for you.

I suggest people to be financially aware but not scare everyone with the IT phenomena.

Disclose the interest income while filing the return.

As I have mentioned umpteen number of times , this is generation of big data analysis, government has access to all of it.

File ITR bro even if you do not have income more than taxable income , cleartax is free / pay 500-1000 bucks to any CA.

No better time to increase your networth, start early.

Exactly nothing wrong in transferring money to account even with mutual fund file ITR and no need to fear

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Tech Guru
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1973
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My friend files ITR of 2.5 lakh every year without claiming any deductions even though he has very less income he has many old years records of ITR such people are very smart if you can guess

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