Need to Report for Credit Card bill payments exceeding 10Lacd

629 views 3 replies

I read that Banks will report credit card transactions whose bill settlement exceeds Rs10 Lacs in a year in SFT 06. But as assessee do we need to report or state this thing any where while filling our return. If yes please guide 

Replies (3)
Check your inbox

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 am also doing the same. I am not very sure regarding what to do but I would suggest to keep your statements of cards handy so in case of inquiry we can present our point of view with evidence.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
23 July 2026
Semi qualified CA

Garg Bros & Associate CA

New Delhi

CA Inter

View Details
Company
06 July 2026
Accountant

Agarwal Anoop and Associates

Noida

CA Final

View Details
Company
ARTICLESHIP 16 July 2026
CA Article

Pipara & Co. LLP.

Mumbai

CA Inter

View Details
Company
16 July 2026
Manager - Finance & Accounts

Aliens Group

Hyderabad

CA Final

View Details
Company
ARTICLESHIP 11 July 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
05 July 2026
Financial Controller

NovumLake Partners

Mumbai

CA

View Details