ฝัง
- เผยแพร่เมื่อ 16 ธ.ค. 2023
- Income tax department is sending notices to credit card users for compliance if required any. In this video i have explained that why credit card users get income tax notice and what are the methods to comply with such notices on credit card use.
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Thank You so much brother ... you are great
So nice of you
As usual unique information brother… I wish you the best.
Best channel for credit card information. Thank you bro... Keep up this good work 👍
Thank you so much brother ❤️❤️❤️❤️
@@annadm Sir muje aapse baat karne hai
Even i got the notice from IT and i submitted by accepting the information as true and correct. But, most of my transactions were related to online shopping and some part of it was used for my shop's (small kirana store) purchases when i have deficit of cash.
But it makes you wonder ,all those people who spend 10 lakh plus on Infinia metal to wave off Annual Fee, or even worse 25 lakhs for Magnus are now in Soup with IT dept 😅
Right
They won’t get those cards if they don’t file itr anyways
Best credit card for offline spends and lounge access?
Its not about per card. The limit of 10lakhs is overall in a fiscal year
Yes utub university passout
So Good Information ❤
Glad you think so!
Ek question hai, bank details kab send karta hai, financial year complete hone ke baad, ya , 10k limit use hone par.
mere pass 5 credit card hai hdfc tata neu plus,one credit card,rbl save max,axis ace and now about to get jupiter csb credit card so i want to know that all of spend and bill combined 10 lakh is enogh to get income tax notice or from a single credit card yearly 10lakh bill payment is required to have a income tax notice ? plz clarify it i use my all card to purchase anything i need!
Thanku sir 🎉🎉🎉
❤️❤️
My multiple friends using my cards for some personal and business purposes.. they use it and pay the card from their account same day... Not even wait for the bill genertion.... Is there any trouble in that
Maine 2 year pehle ITR file ki thi credit card lene ke liye hi. But 2 saal se nahi ki. Koi problem to nahi?
Let's say 5 credit card he toh total 10Lakh ki limit ya individual C.C 10 lakh ki limit he.?
I have spend more than 10 lakh.
But not any income from this.
I already filled ITR.
WHAT I WILL DO
It's totally depends on your earnings & spends.
Let say someone earning is 30L then they can do 10L credit card payments without any issue. They won't even ask as the card re-payments debits from the source account.
But think of reverse case where earning is 10L but spends are 8L then its for sure fraud case.
So salary guys who genuinely use only credit cards are safe but those who misuse in either way should be caught.
Caught mean what.... Notice needs just an reply nothing else.... I did approx 10 cr this year from credit cards but will get audited my accounts and will declare rewards as income
@@himanshushamra5197 its simple logic if someone earns Rs.10 then its not justifiable to spend Rs.12.
Ideally a person can spend max of Rs.6 excluding daily spends (offcourse need Rs.4 for daily needs)
So yes govt will ask how you spent Rs. 2 extra & from where you got?
If you can answer then no issue.
@@himanshushamra5197 bro same done by me but for smaller amount of 1.6crs
Sir ak baat bolo mah 3laks ka itr file karta hu kya notice a sakta hai?
Akbaat har card ka 10lak ya total mila k 10lak yrly spend 🤔 please bolo
Bhai mera age 18 hai or hdfc ka card h 25k limit ka , mai tata neu card apply kiya jisme galti se self employed dalkar student dal diya .... abb physical verification hoga 😢😢😢 kya Karu bhaiya guide karo
Even students studying in college are getting such sms. The magic after linking pan with aadhar.
That's the reason why the Indian government wants to unify everything. Magic' 😂😂 Japan, Singapore, hong kong, USA even china have integrated system but India is taking the lead gradually.
I am a 21-year-old non-earning student living in India who just filled 1 year's NIL ITR. It's like I don't earn anything but I spend on all our necessities through my credit card. I pay the bills perfectly on time but since I am spending more than I am earning, will I be asked for the fund's source? It's like I ask my father for the money to pay the bills but to be honest, the expenditure amount significantly exceeds the amount that we show in his income tax file. Therefore I want to know what will happen because of it? How will the income tax department come to know about my expenditures if they are not directly reported by my bank/card lender?
Same question, bro.. 🙋🏻♂️
Same question
Year calculate kese hoga Jan to Dec or April to March ?
Bhiya receits kya hota ha or per bank ke credit card pe total 10 lakh like axis bank ke mere pass 4 credit card ha toh ha total 4 credit card ko mila ke 10 lakh se Kam hona Sam for other bank like sbi having 3 credit card but should be less than 10 lakh
Very informative video as usual 👍 ❤ keep it up bro.. Love from Kolkata 💞
Thank you so much ❤️❤️❤️❤️❤️
@@annadmसर, मै अपने सभी क्रेडिट कार्ड जला दूंगा।
@@annadm pl sir reply me. I am a valuable subscriber of you
Yes, you are very valuable. What happened?
@@annadm Sir, commants ऊपर हैं
Notice ka ab solution bhi batao user ke experience se ?
Jinjone aaj tak ITR file hi nahi kiya ho
I am using credit card more than 20 lakh in a year my income from salary approx 2.5 lakh in a year. Nd i earn from credit card approx 1.5 lalh in a yaer .. total income 4lakh any SOLUTION TO FILE ITR. Without getting notice.. .. HELP ME OUT.. BHAI KOI CA jugad btao
Kya credit card ko business use me liya ja sakta he??
Bhai prepaid card se income tax notice aata Ya UPI Se aata
I have did 50lakhs credit card payments, but my annual income of rupees 6lakhs. How can i show this in ITR
Some are doing credit card payment from other account not own account then what happene
Rupay UPI card transaction pe bhi ye issue hai?
I file ITR , but i pay insurance premium of all my family members, and i take premium amount from their bank account to my bank account, and then pay cc bill from my bank account.
Will there be issues for this?
Not really
😊😊
Number of credit cards pe koi limit hai kya ?
I've spent 9.5L on my credit card in one month and it's not a single transaction of 9.5L but multiple transactions total 9.5L in one month Am I in trouble?
No
I am a student and I have a credit card of 2 Lakhs plus limit so I am sure that I have crossed 10 Lakhs limit this year and I received this notice.
Now I am going to USA for my further studies this month and I am thinking of closing this cards. I am flying next week so what happens if I ignore this message and go to USA. Anyone please explain clearly what happens if I don’t file it. I don’t have any income as I am a student and most of my spending’s are my shopping expenses and money is from my father most of the time. What should I do now. If I file my ITR how much tax should I pay. Please explain anyone.😢😢😢😢😢😢
Consult a CA and file and pay Advance Tax and you can leave. If u paid advance tax extra, you will get a refund.
Just show you’re receiving money as gift from your parents. No need to pay tax on that
10 lakh Annual spends is correct, didn't know about cash payment ,but it's obvious i guess
Obviously, if you are spending something, then you are required to pay it back before due date
Mere pass axis ke 2 cc h, ace & flipkart. To kya main 'ace cc 1 year me 9.5lac & flipkart cc se 9.5lac use kr skta hu n? Ya fir axis ke dono cc ko mila ke 10lac count hoga?
I'm confused😵🤔
Same bank ke 2 cards bhi 10 lakh mai calculate honge. Alag alag bank ke hote to nahi
@@annadm okay....
Sir cash me credit card se payment ka kya matlab hai .. rent payment, wallet load hai kya cash payment.ek bar samjhayenge
Cash payment Matlab bank jake deposit receipt bhar ke card ka bill bharna
@@niteshkhatri2543 thanks bhai
Ye card apply karne time(Tata neu infinity ),annual income fill karne ka option hi nahi rhta,jab me iski details me gaya to dekha ki jiska income 11 lakhs+ hai annually wohi eligible hai, ye Bina koi income proof apply ho raha,suppose agr main apply Kiya aur approve ho gaya , to kya govt ye assume karke ki mera income 11lakhs+ hai ,mujhe income tax notice bhej skta hai kya?
Mera income below 2.5lacs hai in actual
Mujhe bhi ye doubt hai aapka kya hua?
Bhai jis ne credit card se rent payment k transaction kar k bank transfer kiya ho 25Lakh tak unko kya solution dena chahiye AIS feedback me. Please anyone who can help 🙏
I m revolving credit by using other cards and have not made any income due to revolving money. How can i justify this action?
CA will help you
@@annadm ok I will consult CA. But I hope I don't have to pay any fine or penalty. By what time are supposed to file ITR?
What will be the response to IT if high value txn due to rotation of money card to account and vice versa. Pls advice
please btaiyega agar pta chle to
Please anyone who can help do reply 🙏
December months m konse cards ke approval jyada hai video bano usspar bhi
I will make a video soon
Sir jankari sahi di but sir you tube pe batata hein sab card mial ke 10 lakh limit
Vikrant bhai... Mere pass HDFC ka moneyback plus credit card hai aur me digital rupay card leta hu.... To kya Rupay wala card chalu rakhke purana Moneyback plus close karva sakta hu...?
Haan, it is possible
@@annadm thank you bhai...🤗🤗
❤️❤️
It's my credit line ,my wish if i use it to invest and generate income without having any prior income,as long as i am not using them on merchant category, or i pay bill of one card from other or pay card bill by using same card , notice aaya to yahi likhunga 😂
Sir mene 10L ae jyda 1 credit card se rent payment Kiya hai mujhe notice aayega kya ?
According to rules aa sakta hai, but nahi aaya to maze kro
So I have 22 credit cards and if I am spending less than 10 lakh from each card and exceeding 10 lakh with over all 22 cards I am safe right?
No. overall 10 lakh spends done and if u made payment more than 10 lakh rs in a year this notice may come
Basically these people were spending but were not filling ITR!
ITR to sabko file krna chaiye agar earn kr rahe ho to.
@@aayushkotecha1677 alti palti bhi maare cards ki toh chalega yaa nahi 1.1L ki alti mar rhaa hu 3/4 mahine se... i lost my job 😔
Vikrant bhai 10L sabhi card ka mila ke ya fir per card 10L (different bank cards)
Ek bank k jitne cards hai sabka milake 10+ repayment pe issue hoga
Aaj ke dino agar tum bologe ki self itr file karne par pachde me padoge to govt itne dino se kya kar Rahi hai
jo crores of ghotala karte hae .. unka income tax kuch nahi karta ..jo layman hae unka paas income tax ka notice ata hae
10L is a huge amount, people who were using there cards for transfering money from CC to bank and have less income will face this issue.
alti palti kare credit card to credit card then it will trouble us or not ... 60l every month alti palti kar rha hu...
60 lakh 😂
Ek month Mai 72 lack kar raha hu Jo hoga dekha jayega
Bhai koi jankar iska b answer dedo credit card to bank transfer like rent payment walo ko help karo please 🙏
78L per year ho raha hai
👍👍👍👍
Hi, its 10L per card or total 10l on all card?
Per bank all cards 10L
@@CreditCard844 sare cards ki transaction mila kar 10L? alti palti bhi nahi mar sakte?
❤😮❤❤
Mtlab middle class wale jugad krke thoda bahut kamale usme bhi vasooli hogi 😂😂 ye fake document leke log illegally ate aur free ka sab enjoy krte unko koi problem nahi hoga 😂😂😂😂 gajab middle class walo ki hi waat lga rhe haar jagah
Isliye mahan log ke gai Middle class aadmi.. Aadmi nahi sala chutiya hota he 😂😂😂
I got the exactly same msg😭
10 lakhs each for single bank cards or 10 lkahs for whole credit cards
10L alag alag banks ke card ke liye
@@annadmkaha iske bare me jada information milega please reply
@@annadmyes kha likha then or clearlity mil jayage
If 10 lakh se jyada payment Kiya hai lekin bill generate nhi huve to notice ayega ?
Yes
Yes ayega, they calculated directly credited amount in credit card. Paying amount before bill generate only benefit credit card utilization. But banks report income tax department all credited payment on this card if it crosses 10 lakh. Suffer previous year beacuse of these notice. CA charged me 35000 for sort out these.
Write this comment in comment box so that i can pin it to educate others by your experience
@@yogeshpatil6072per card 10L spend or overall cards ? i have 7 cards with me of different banks. 70k ki alti palti marta rehta hu har month thheek hai yh?
App piche kaun sa monitor use krte hai
LG ultragear
I have income of 2.5 crore and annual spend on cc of 75 lakhs will I get the notice
Aren't you filing ITR every year with this much income?
Bhai 2.5 crore kamane wala itna chutiya nahi hoga jo youtube par muh mare unke khud ke CA hote he Guide ke liye 😂😂😂
1 card pr 10 lakh ya sab card pr total 10 lakh spend Krne pr aayl skta h?
1 card pe less than 10
Thank you so much 🎉
1- Yadi ek hi bank ka 3 cards h... To uska limit kitna hoga... 1 card ka 10 lac arthat 3 card ka 30lac ya fir tino card ka 10 lac...
2- alag alag bank ka limit alag alag hoga ya fir total 10 lac m sabhi bank ka kul limit hoga...? ❤
Iam always filing ITR Last four years😊
You are a good man 👍👍
OMG 😢😢
I have 4 credit cards, can i use each card for 5 lakh and avoid income tax notice.?
My itr is 6 lakh.
Ya r safe
Hi..sir mere icici bank ka limit 3068000 hai mai har mahune above 25 lakh use karata hu personal and business and i also fill itr from 4 years muze aa sakata hau kya income tax notice ???
No, because you file ITR every year
But in my itr I only show my profit 5 lakh
@@krishnadange9640what’s the ratio of personal and business expense? Can you prove that most of it is business expense?
Yes most is business
Are yaar wo msg sabko hi aa rahe hai. Aisa kuch nahi hai.
👍👍👍👌👌👌🙏🙏🙏
This is called SFT Transaction
I have also received that notice
How Much You spend In a Year by A single Card...
plz clear
18 lakhs
How much do you use?
@@bhaviji6176
5 Lac by A single Card
I have 12 Cards of Different Bank
Overall 25 Lac Plus by All Cards
@@bhaviji6176mujhe bhi Notice mila hai
Please koi batao solution kya hai ?
bhai ji mera 7mahina 7lac ho gya hai alag alag card se kiye hai to koi dikat to nhi
No issues
@@annadm ok bhai ji
Mera bhai ka v aaya hai
Kya karna padega bro😢
Maine bataya hai solution video mai
1 Lakh rs Cash payment means Repayment of Credit Card in the bank or something else? Someone please clarify??
Don't pay ccd bill in cash payment above 1 lac.
60 lakh use not receive any notice
@aaveshtak3814 100% ayega cash deposit method?
@aaveshtak3814 stop
I received notice
Why?
Very very Useful information and awareness video. How can i contact you personally via email or phone?
Mene 5 lakhs kiya hain to mujhe aayegaa main income tax nhi bhdta hunn
nope
Na
Wallet to money transfer krta hun add krta hunn hr mahine or usko bank main leleta hunn isme Maine 10 lakhs ke up krdiya this aayegaa ya nhin
What if the message is ignored or not seen ?
Same question
Ignorance of law is not a defence. It will be presumed that you had sufficient information.
@@annadm OK thank you for clarification.
@@rizwan0320 how much of a heavy penalty are we talking about?
your information is not completely correct according to income tax website
There are two rules
1. More than 1 lakh payment in cash on your credit card
2. Spending and then making payment of 10 lakh or more on your credit card
It's totally depends on your earnings & spends.
Let say someone earning is 30L then they can do 10L credit card payments without any issue. They won't even ask as the card re-payments debits from the source account.
So salary guys who genuinely use only credit cards are safe but those who misuse in either way should be caught.
@@annadm I think you have misinterpreted the 10 lakh limit. One can get IT notice In case he/she uses credit card to purchase any product or service costing Rs 10 lakh. I.e., single purchase of 10 lakh or more, but not for overall annual spending of 10 lakh.
No he is right. For transactions crossing Rs. 10.00 lakh in a year for a single bank information is passed on to IT. Income Tax then tally the information with the IT Return filed against that specific pan card. Any discrepancy and IT can send an intimation to credit card holder asking him to file the return properly
Before answering my questions, read the information about credit card spending limit on income tax website and who gives this information to the income tax department
10L aggregate on all credit cards from single bank.
Yes
Kindly clear Can i use hdfc card 9.5 lakh, icici 9.5 lakh, axis 9.5 lakh per year...these spends will get notice
or
single bank credit card 10 lakhs above spent cases only
Mujhe bhi aay tha, September mai 😢
i hope you are good now
@@annadm yes, thank you for this sweet reply 😊
Kese Kiya
Kya kiye bhai itr file ya kuch aur please btao mujhe bhi msg aya hai
same@@FaisalKhan00007
First
Thank you so much
Cash mein payment mtlb smjha nhi!
Rokda Cash bank mai leke jake cc ka payment karneka
first view
Thank you so much brother
Return file karta hu and credit card expense se income bhi hoti he mujhe aaj tak notice nahi aaya he in future agar High exsumption notice aajai to kya kiya jai
Sir agar ek bank ka 3 card hai toh sare card ka alag alag 10 lakh limit hoga ya 3 card milakr
Ok bhai
Same bank ke sabhi cards ka 10l