POSTED BY December 24, 2012 12:52 pm COMMENTS (29)ON
During conversation with my Dad regarding credit cards(CC), my Dad told me to take care of transaction amount in the CC. It should not cross 2 lakhs otherwise there will be inquiry in Income Tax.
In my family of 6 ppl, I am the only one with CC cards. I hold 3 cards.
All the online transaction are done by me. Sometimes payment for those is done by cheques by my dad. So want to know how Income tax and credit card are related.