assessess used credit card transactions not reflected in 26as or ais or tis . assessess asummed income generating less than credit card payments.
question:
assessess credit card transactions show in compulsory.
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Credit card payments showing compulsory
Replies (4)
Please note that the AIS and TIS reports for FY 2022-23 will get fully updated till May end 2023. So check the transactions if reported or not by first week of June 2023 & then come to any decision.
If the transactions are below Rs, 2 lakhs and only for personal expenses, then this transaction may not get reflected in ITR 1, 2 &4.
Credit card transactions must be minimum .
Credit card transactions may appear in AIS/TIS after the due date of reporting period if amount crosses the specified limit.
sir, one of the my client paid 90 laks in credit card payment in the fin year 22-23.
where i show the amount while I'm filing income tax return... he is salaried person... pls send what is the rules of credit card payment under income tax act.
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