My CA says that keeping too many credit
cards (even though free) will invite attention &
scrutiny from income tax dept. He suggests not
to keep so many cards.plz opine. Any CAs' in the
group can plz clarify
Menu
Lifetime free credit card
Replies (1)
You have to worry only if you are doing any activity which is against any law. Otherwise, you are free to use any number of cards, but also check its feasibility.
For your information Card issuing banks have to report the transactions, if above Rs. 2 lakhs in any year.
Recent Topics :
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
- What should I do after receiving a GST Show Cause
- Discuss and Download CA Inter Question Paper Septe
- Hi experts needed some help
- Gift of Immovable Property u/s 92 of Income Tax Ac
- NSE BSE Pre-open session changes from 7 September
- Financial statements for non corporate entities
- Hi experts need some help
Related Topics :
CAclubindia
