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Credit card expenses
please tell me how much expense though credit card may attract the income tax in a financial year
Replies (3)
There's no limit for expenses through credit card unless the same is from disclosed income... however if the credit card expenses are more than 2 lakhs per annum, the same may captured in assessee's ITS details and may get query letter, calling for sources
Is there any specific form for disclose in income tax
Cash payments of Rs. 1 lakh or more for credit card bills will be tracked
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