Credit card limitations

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8 Points Posted on 06 November 2021
how many amount can I transacted in a financial year through credit cards
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On 06 November 2021 at 23:40 Report
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Quick Summary
This discussion clarifies that there's generally no specific annual limit on the amount you can transact using credit cards. It also addresses the taxability of credit card rewards, stating that cash rewards exceeding £50,000 in a financial year are taxable. The conversation touches upon whether total credit card transaction amounts need to be declared in income tax filings.

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Student
412 Points Posted on 07 November 2021
Generally no limit
for further query, elaborate your query
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On 07 November 2021 at 00:45
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Chartered Accountant
24588 Points Posted on 07 November 2021
There is no such limit
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On 07 November 2021 at 05:54
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8 Points Posted on 07 November 2021
Reward earned from credit cards are taxable or not. I transacted yearly 50 lakh through credit cards and earned 50000 rs cash rewards. in future any problems will arise or no.
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On 07 November 2021 at 08:07
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CA
10436 Points Posted on 07 November 2021
Rewards of credit cards are taxable if they exceed Rs 50,000 during the year. For any further query you can text me personally.
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On 07 November 2021 at 08:50
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8 Points Posted on 07 November 2021
Sir please provide your whatsapp number
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On 07 November 2021 at 08:54
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CA
10436 Points Posted on 07 November 2021
Check your inbox
2 Reply
On 07 November 2021 at 08:55
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8 Points Posted on 07 November 2021
Whether I have to show all credit card total transactions amount while filling income tax
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On 07 November 2021 at 19:32

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