Credit card transaction more than 10 lakh/enquiry for sft-006

I too have same issue.can any one help me in this regard?

Though chances of receiving any query from ITD is high, but you can prepare accounts based on these transfers form  one card to another, treating each as a bank account. Rewards should be treated as income, which to be declared for assessment under IFOS.

I have all credit card statements and bank account statement and medium statement like paytm wallet statement and cred statements with me. So what should be next step to not face this notice. As i have not earned anything from these transactions?

Keep financial statements ready for submission, if required. As you have said you earned about (10,82,000/- less 10,06,000/-) i.e. Rs. 76,000/- as income, declare the same under head IFOS in ITR while filing.

Hello Sir, I have been using my credit cards as revolving credit. I do not do any business. I am just a salaried employee. Since , I had financial stress, I used credit cards to rotate money. I used paytm rent pay to transfer money from my credit card to my savings account and then pay another credit card bill and so on. I have been spending. 5-6 lakh every month like this. Is there a problem from this? What should I do now?

I also have same problem, , can anyone assist 

I have also same case of rotating money using credit cards, Please help in this matter.

Now a days all such transactions get reported to ITD, so filing of ITR is mandatory. Even after that query may get raised for such revolving transactions, which needs to be replied with financial statements.

I'm using credit card vigorously just for cashback points. But my monthly billed statement is <5000. I'm repaying the dues before the statement is been generated. Till now, i made 20L + usage in credit card but the overall billed statement is < 1 lakh.   Will I be traced in form 26 AS under SFT-006? Will IT department found me?

Read more at: https://www.caclubindia.com/forum/credit-card-billed-statement-lt-10lakhs-596471.asp

Yes, you will have to prepare financial statement for the rotation of funds between credit cards. Even if there may be SFT reporting, you can save yourself by filing ITR, and justifying your transactions in case of any query.