In my AIS for 2022-23, the Miscellaneous Payment category has been shown under which SFT-006 (Payment for Credit Card) for more than Rs. 12 lakhs has been shown. I generally used the money to rotate and pay the credit card bill. Will I be in any trouble if I Don't File an Income Tax Return? I am a salaried employee also i used my credit card for paying utility bills for my own and others too.
Menu
SFT-006 Payment towards Credit Card
Replies (23)
Filing ITR is mandatory in your case.
Sir, Where will I show the transactions although my income is not taxable also. Would you mind helping me a bit?
The transaction will not reflect anywhere in ITR as there is no direct connection between the spending and any corresponding income, just file return whatever be your income, to avoid any query from ITD.
Thank you so much sir for your help.
Most welcome.
Hi Sir,
I have similar question related to credit payment.
My income is 22 lakhs and my credit card payment is 46 lakhs with 2 split banks.
I have already file ITR and got my refund. How can I submit my response. While filing ITR i didn't see that amount reflected during filing. Now I see that amount.
What response should I give to ITD, what option to choose from given options in response. Will I be queried back or questioned back for this over spending on income. These are same case rotating money from credit card.
Please help
Keep your account statements handy, in case of any query.
Sir I have a similar issue related to credit card payments showing an amoun of 16 lakhs whereas my salary income is around 6 lakhs. How do I account for the amount as I've made payments for rotation of credit card bills and helped my friends for payments. Please help me with this query sir
From the bills of credit cards, records actual spending and rotation of payment. So, whenever any query be raised you can justify the transactions.
Dear Sir, i have the similar issue my gross salary is 10lac but i have spent and paid in credit card approx which is 18 lac approx. sir, should i respond to STF 006 by clicking on optional and then proceed with information is correct or leave it. also want to informed you that it is teflecting in one amount, one count and in single date. please suggest. thanks for your support.
No need to respond at this stage, unless ITD raises any query.
Thank you very much Sir for your support and prompt reply.
You are welcome.
Do I have to show anything in my computation sheet regarding these payments.
Recent Threads
- AIS NOT OPEN
- ICICI BHARAT 22 FOF AND NASDAQ 100 FOF CAP GAIN TA
- Schdule BFLA and CFL Error regarding adjustment of
- CIRCULAR WITH RESPECT TO WAIVER OF INCOME TAX OUTS
- How does opting for 44AD impact speculative income
- New GSTR 1
- Purchase and sale of land , showroom, building
- GTA provides services to unregistered person.GST i
- TDS on Sale of Ancestral property
- Tds on transport contractor
Related Threads
CAclubindia
