Taxabili9ty of credit card reward points
This query is : Resolved
yogesh vijaykumar shah
(Querist)
30 May 2022
Rewards in the form of cashback or credit card points used to pay credit card bills whether taxable income, Kindly advise us.
CA R SEETHARAMAN
(Expert)
30 May 2022
Rewards in the form of cashback or credit card points used to pay credit card bills or buy covered goods (jewellery, drawings, etc.) could be held taxable in India if the total amount of benefit exceeds Rs 50,000 during a financial year.
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