Petro Miles Redemption
This query is : Resolved
11 July 2023
I am having Fleet of vehicles and I use BPCL Petrocards for fuelling refuling the same on regular basis. On every fuelling i earn some petromiles and the same gets accumulated. Recently i have redeemed the amount. Say Rs 10,000/- . The same is credited under Rewards in BPCL Portal.
Further the same amount can be only used for further fuelling.
Shall i treat the same as Other Income. As the same at end of the day will be utilized and the balance will be Zero
Further the same amount can be only used for further fuelling.
Shall i treat the same as Other Income. As the same at end of the day will be utilized and the balance will be Zero
11 July 2023
Yes, it is reward, taxable at special rate of 30%.
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