I have done transaction of 10 lakhs 6 thousand rs spend from my credit card and most of this expense include transfer to wallet and wallet to bank or payment of another credit card by tranferring to wallet and then bank. 70% of transaction includes these transaction mostly for credit card reward points. So as per SFT-006 how to handle if in case i receive any income tax notice or will i receive income tax notice on this? My expenses on this card is 10,06,000 and my income is 10,82,000 per year. Please help here. I have 4 credit cards
Credit card transaction more than 10 lakh/enquiry for sft-006
Ravi gupta (Working in private company) (8 Points)
25 August 2021