Credit card transactions above Rs 2 lacs – Should I worry for getting Income Tax notice ?

POSTED BY bunty_jam ON December 2, 2014 5:12 pm ONE COMMENT

Dear sir,

I am not too much use too with credit card but unfortunately in this year, I have transaction above 2 lacs with my credit card with doing shopping etc. I have three different savings accounts, from which with one account is a salary account and is controlled by my family, but with the other two accounts – one account is for my pocket money + stocks market and the last third account is just for saving my cash and some FD transaction from it.

Now I am having one HDFC credit card and have done shopping of above 2 lacs in this year and my pocket money account is linked to this credit card and I have shown only one account i.e. my salary account in IT dept. So please suggest do I have to worry of getting the notice for using the credit card above 2 lacs.

Thank you,

Bunty

One reply on this article “Credit card transactions above Rs 2 lacs – Should I worry for getting Income Tax notice ?”

  1. Hemanth says:

    No, if you pay tax correctly, there is not need to worry from which of your valid account the transaction is made.

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