payment made by any person of an amount aggregating to 1 Lakh or more in cash or 10 Lakh by any other mode against bill raised in respect of one or more credit cards issued to the person fall under SFT-006. Credit card issuing authority is responsible for reporting these financial transactions.
You must calculate what is mandatory minimum amount payable during the year for expenditure of Rs15L ! If it's less than your gross income less reasonable yearly expenses then you can justify the mismatch!
Leave a Reply
Your are not logged in . Please login to post replies
CAclubindia
