Dear friends
I did transaction of more than Rs 12 lac in a year through my credit card, I had given my card to a friend and he was using it .. now i feel trapped , limit of my card is rs 1 lac in a month . kindly guide what should i do now..
As per rules my transaction would already been reported to tax man as it is above rs 2 lac in a year .. he is using it since october 2012 till march 2013 , though i did not received any tax notice.. ALSO I HAVE NEVER FILLED ANY I T R.. till date .. i have beeen working since 2011 … kindly guide please , what would be the recursions in such situation.. i am very much worried,.. regards rohit