Credit card transactions 20 L per year

This query is : Resolved

ca1419$ (Querist)
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21 June 2021 Dear Sir,

I have 5 credit cards. my salary is 40 K,

I am maintaining my debts 2 laksh thru my credit cards in way of my friends power bills, electricity bills paid from my credit cards. in this process total transactions up to 20 L per financial year.

is it any problem from IT department. if i get notice regarding my transactions from credit cards. how to resolve ?

just i postponed my dues to manage my credit cards.

Please advice me

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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21 June 2021 No problem, if you prove that you paid friends power bills.

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