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Credit card cash back is taxable as gift in incometax

This query is : Resolved 
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(Querist)
23 June 2017 HI

I HAVE CREDIT CARD REWARD CASH BACK OR SOME VOUCHER MORE THEN 50000 SO THIS IS BOTH ARE UNDER IN INCOME TAX AS GIFT

THANKS
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Amol S Joglekar

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Amol S Joglekar (Expert)
23 June 2017 reward is taxable irrespective of any moneytary limit like 50,000/-
reward points for credit card are NOT taxable
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dharmesh

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dharmesh (Querist)
23 June 2017 SO CREDIT CARD REWARD INCOME IS EXEMPT & NO TAX ON THIS INCOME
ANY CASE ON THIS TOPIC
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Amol S Joglekar

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Amol S Joglekar (Expert)
23 June 2017 No case law as such.
01. It is in the form of discount and/or incentive.
02. It is not redeemable against cash. It can be redeemed against some articles like wallet, bag etc, at the option of the card company

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