Cash backs
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 February 2014
Are Credit/Debit cards Cash Back Taxable under Income Tax Act 1961.....???????????
26 February 2014
theoretically it is should be taxable!! it is not specifically exempt under the tax law.
however, you can argue that it is in nature of cash discount on specific purchases and thus no taxable.
however, you can argue that it is in nature of cash discount on specific purchases and thus no taxable.
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