Annual information report
This query is : Resolved
10 October 2013
we have credit card of HDFC bank, we have spend near Rs.240000 on medical treatment from credit card, is that anything to worry when bank file A.I.R. to IT Dept, card is on the name of my father. can IT Dept do any action.
10 October 2013
The card holder will get notice from income tax department directing to explan the transaction and the source for the repayment of credit card dues. If explained with documentary proof nothing to worry about. Other wise the unexplained amount may be added along with the card holders income and assessed accordingly.
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