Credit Card and Income tax Notice || New Rules 2025

[@sandeepdhawan8586]

Thanks very knowledgeable video.tax panelty interest and sec also explained in well manner.

[@CASumitSharma]

Thank you 😊

[@dhruvpatel5496]

Government ko bolo ki hamari income pe 100 % tax lagalo aur fir humhe fresh breathing air, unadulterated food , kapde aur safe transportation do Hume aur security do ki Hum mare tab tak hamara acha khyal karegi...

[@CASumitSharma]

👍

[@foooodcarvingvlog120]

Ye to bjp sarkar me nahi hoga or india me to choco mat yesab

[@v_an_AR]

Khangress aayegi to aisa ho bhi jaayega....

[@kishorekrishnan2268]

Jeh badiya tha golu....

[@mnaseer]

Appreciate your efforts, detailed and informative content. Just reduce the redundant words and sentences. Once again thank you so much for the video.

[@CASumitSharma]

Thanks, will do!

[@BhabatoshGarai-i5b]

Great video, very informative. Carry on bro.

[@CASumitSharma]

Thank you Best wishes 🙏

[@izharahmedansari5628]

Excellent info sir sabhi ka achche din aayenge........?

[@CASumitSharma]

Hopefully

[@MrSAJIDSAIFI]

Very useful knowledge

[@CASumitSharma]

Thanks for liking

[@kailashjain9007]

Very nice information Sumit Ji 🎉

[@CASumitSharma]

Thank you jain saab

[@AsgherZaidi-q1h]

Good knowledge

[@CASumitSharma]

Thank you

[@farooqbaig6292]

Good pace of speech. Very informative. Thanks.

[@CASumitSharma]

Glad you liked it!

[@sachinpali1018]

जानकारी छोटी तथा मुद्दे अनुसार होती तो अच्छा होता।

[@CASumitSharma]

Achyaaa

[@AbhinavKumar-f4q]

Thanks for clarity... Amazing communication skill.

[@CASumitSharma]

Most welcome

[@wealthGenerationSlowButStedy]

Happy New Year Sumit Bhai❤

[@CASumitSharma]

Thank you and best wishes 🙏

[@SudheerLakra-h1o]

Thank You 👍👍👍

[@CASumitSharma]

Welcome 👍

[@reshmanahid9074]

Sir, well explained & thanks 🙏🙏🙏

[@CASumitSharma]

Thank you

[@mahekkhan3525]

Sir 1 lac ya 2 lac ki credit card k expenses ka bhi itr file karna h

[@CASumitSharma]

ITR filing mandatory if Income cross basic exemptions limit 3 lakh annually

[@heroxsamvs2832]

Best valueable information

[@CASumitSharma]

Thank you

[@jaibirsingh1093]

Shandar video

[@CASumitSharma]

Thank you 🙏

[@MrPradeep10M]

Sir ek question example ek Account mai 5000 hai aur dusre bank account mai zero hai. Ta Sir ek 5000 dusre account mai bhej ke phir dusre account se pehel wale mai bhejne par gst dena padega kya kiuki bahut transaction hojaye jeseki 10lakh 15lakh. Ek paise ko debit credit kare baar baar ta kya kare uss time gst lagega kya.

[@CASumitSharma]

No gst income tax On self account transfer

[@MrPradeep10M]

@CASumitSharma Aur Sir Credit Card ka Transaction kitna karsakte hai ek saal mai. Jo koi problem naa aye.

[@krishnendumondal6016]

Nice

[@CASumitSharma]

Thank you 😊

[@bhuvneshpahuja5434]

Thanks very much for the valuable information sir

[@CASumitSharma]

Most welcome

[@ambarishjaiswal2265]

Appreciate your help 🎉

[@CASumitSharma]

Happy to help

[@D_Singh1313]

Very nice information ji

[@CASumitSharma]

Thank you 😊

[@AmitavaRoy]

Can I send money from my own credit card to my business merchant QR limiting each transaction

[@CASumitSharma]

Yes Keep records of each transaction

[@lawrencedalmeida8722]

Very nice advice. I like your all the videos

[@CASumitSharma]

Thank you 🙏

[@Gaurav-_-]

High value single transaction also they monitor or cumulative only?

[@CASumitSharma]

Overall annually

[@khansahaab5826]

That day is not far , 😂😂😂😂😂 humko Sarkar kahegi aapko saans lene par ab GST lagay ga😂😂😂😂

[@CASumitSharma]

😁

[@avi4003]

Hello! I have a few credit cards. I use them for shopping for my family, pay ing electricity bills, and for a few times I sent money to my friends merchant account through Rupay Credit card. I don't file ITR as I am not employed. This year's bill bill is near 7-8L. Am I safe?

[@CASumitSharma]

ITR filing mandatory if Income cross basic exemptions limit 3 lakh

[@khajagold]

cradit card bil 1yr pe 50 lac bil pay kiya hai leking bil NRE Ac se pay kiya hai iska kya risk hoga batav plz

[@CASumitSharma]

No risk If income earned shown And ITR filed accordingly Have source of bill paid amount

[@Dahin_safarian]

Is it the Bill amount that matters or total transaction value which comes under the limit of 10 lakhs? Because it is possible to make an advance payment to our credit card before the billing cycle ends to reduce the outstanding balance.

[@CASumitSharma]

Bill paid

[@Dahin_safarian]

​​Thankyou Sir.. Btw...So we can carry out as much as transactions before the bill generation date. Only thing to keep in mind is that we should pay in advance of the bill generation date to reduce the total bill amount. And that accumulated total bill should not exceed 10 lakhs in a financial year. Is it right sir?@@CASumitSharma

[@ryjj7878]

Main 1 card ka paisa nikal k dusre card ka bill bharta to kya ime bhi pakdega

[@CASumitSharma]

Reportable transaction You can justify it to department if asked

[@RKCHAITU87]

​@@CASumitSharma how to justify the transactions?

[@understandthewordsfeelthes3036]

Thanks for sharing helpful information

[@CASumitSharma]

Most welcome

[@koushikkar579]

Main saal me ak company ka card 9lac spend karta hu.isme ka income tax ka kohi notice ahh sakta he??

[@CASumitSharma]

No

[@koushikkar579]

@CASumitSharma or sir isme ka itr karna jaruri hee??

[@shilpakumari3477]

Mere pas 21 Credit card hai 10 lakh limit ke sath aur is sal maine 2 crore ka bill bhara hai mera monthly transaction 30 lakh hai card ka .maine sare transaction ka record rakha hai ITR bhi bharta hu 5 lakh income tak ka . Dekhta hu Jab Notice Aayega to Reply kar Dunga

[@CASumitSharma]

Good

[@mukulnarula7414]

From where u swipe it

[@mohammadsajid35]

Bhai kab se karte ho 30 lakh uzz

[@mohammadsajid35]

Aur Card kis liye uzz karte ho

[@catchrb9797]

Same here.....can we connect and share best practices??

[@sima9547]

Nirmala Tai jai ho

[@CASumitSharma]

😁

[@Faheemhusain110]

Ek credit card se dusre credit card ka payment karte hain to uska kya hoga?

[@CASumitSharma]

Reportable transaction

[@brindabandas9366]

Aagr Anually total 10 lac transaction hoga toh kohi ITR noftie asakta hain? Yah kohi problem hoga?

[@CASumitSharma]

If ITR filed accordingly then no problem

[@aamindanggen5312]

Worst govt of Independent India

[@CASumitSharma]

👍

[@soumyasaraswat7158]

Chaiwale ko vote dete waqt samajh nahi arahaaa thaa?

[@AjayChaudhary-wy4wj]

Jail hogi fir😢

[@GirishKumar-tt9vb]

Best part of this Govt . is increased the tax slab from Fron Rs 2.5 L to Rs 7 Lakh. No need to pay any tax for an income upto Rs 7.5 L. Thanks to this govt. Definitely the people who hide their income and not filing ITR should be punished.

[@SadaNandhi]

Why? Streamlining is wrong according to you? Not sure you understand basic Economics or not!!!!!

[@BhuneshwarPrasadSahu-w8s]

Sir small business ka Balance sheet aur proffit and los statement kaise banaye?

[@CASumitSharma]

Video already uploaded

[@Trainwalebhaiyaji]

Sir मेरा साल मे थोड़ा थोड़ा करके 3 लाख बिल बन जाता है cc का but मैं only net बैंकिंग से भर देता हूं और ये बिल भी मेरा 3 अलग अलग बैंक के कार्ड का होता है मुझे कोई परेशानी तो नहीं होगी

[@CASumitSharma]

No problem

[@vivekvishal2291]

online portal kaise aur kha check krte hai?

[@CASumitSharma]

Income tax login

[@vivekvishal2291]

@@CASumitSharma thanku

[@SUNILKUMAR-mi5qf]

sir mere pass 5 credit card hai aur 5ka total bill 1.5 lakh hai aur mai ek card se nikl ke dusre mai dal deta hu aur jab uski date ati hai fr dusre mai dal deta hu paise , is se to koi risk nhi hai ? meri koi income nhi hai bs apne hi cards se ek dusre card mai transfer kr rha hu upi se , koi risk to nhi?

[@CASumitSharma]

Check AIS TIS 26 AS And respond accordingly

[@SUNILKUMAR-mi5qf]

@@CASumitSharma sir usme koi transaction show ni ho rhi credit card ki

[@GirishKumar-tt9vb]

No problem

[@abhishek07070]

Sir, Credit card to credit card payment hua hai.. Limit crossed 10 lakh due to financial issue and not able to pay from self.. Isko kaise inform karenge

[@CASumitSharma]

Keep records if asked by department Need to justify

[@chinmoymondal2247]

I have one question if i money rollout from mobikwik or other online source then still got notice from tax department? Pls help me

[@CASumitSharma]

If ITR not filed then

[@zahidaanjum652]

Bro, i have 8 number of credit card, waise to mera annual spending 2lacs se niche hai from all credit card combined. But since mere paas 8 credit card h to jiske paas jyada number of credit card ho like 8-10 unko notice ka risk hai kya (even if combined spending is below 2lacs)

[@CASumitSharma]

No problem

[@rvnikhil9932]

Sir Mere Pass 4 Credit Card Har Mahine Kisi me 30k Kisi me 10k Kisi me 50k bhi ho jata h ,Agar Sab Card Mila k 10 Lakh se Niche Rahega Ek Saal me to Notice Ayega Kya..

[@CASumitSharma]

No

[@DeepakKumar-ml9vd]

Bhai agar monthly less than 3k hoga to bhi itr fill karna padega?

[@CASumitSharma]

No

[@rajeshjimahan]

Best government of India...❤ We wanted corruption to end and the drive has started at all levels

[@CASumitSharma]

👍

[@nitinverma4181]

Achchi nhi bahut achchhi lagi but tention bhi ho gya. Kitne year ki Jail he ye nhi bataye aapne. Use bhi bata dijiyega

[@CASumitSharma]

Aaap records rkho ITR file kro Koi jel nahi hogi

[@nitinverma4181]

But Sir koi record nhi he phle pata bhi nahi tha ki esme bhi income tax notice aata he sayad kabhi credit card nhi leta ya fir bahut kam use krta. ITR bharta hu ek sir se 500/- wala but eski penalty bhi bahut jyada he. Mere paas 9.5L CC he or sbhi Khali he abhi ab kya karu bhale me dub gya me. Dosto family relation sabhi card use krte he or me Bill payment krta hu. Fir return bhi dete he. Phle pata hota to kisi ko bhi Card purchase shopping k liye nhi deta.

[@ujeevanreddy3366]

Excellent

[@CASumitSharma]

Thank you so much 😀

[@a.rresearch6029]

Sir, main s.b.i saving account me pichle saal 8 lakh ki fd kiya phir is saal 5 lakh ki fd karunga or phir agle saal 8 lakh ki fd karunga to total 21 lakh ki 3 financial year me to kya ye reportable transection

[@CASumitSharma]

No But better to file ITR accordingly

[@infinitymobileworld]

Vai ITR file krne pr Reward income show krenge to notice kaisa Sir ?

[@CASumitSharma]

Nahi aayega If ITR filed properly

[@infinitymobileworld]

@CASumitSharma CA yhi bola hai reward m show Krna baki kitna bhi transaction kr skte hai

[@JazzS-z6c]

Your expenses should match with income

[@CASumitSharma]

Indeed

[@JanataGaming]

2.5% charge leta hain uska kya ?

[@CASumitSharma]

Allowable as business expenses

[@kalekar28]

Bhai tax bharte ho toh bhi notice atta hai kya?

[@CASumitSharma]

No If ITR and taxes paid properly

[@kalekar28]

@CASumitSharma thanx you sir mera 2012 ka case tha uska penelty 2019 aya tha wo bharke clear kar diya..2024 main 5 lakh ka credit card bill paid kar diya hai within 1 month ..lekin main tax bharta huun

[@infinitymobileworld]

​@@kalekar28 panelty kitna tha ?

[@kalekar28]

@infinitymobileworld 30k

[@RajaBabu-qv1zs]

Sir Mera pass 7 credit card hai Har card se agar me 6 lakh par saal expenses krta hu for rewards points income ka liya to kya mujha notice aa sakta h . Credit card se paise nikal ta huya phir bank me dalta hu or usi paise ko credit card ka bill payment kr deta hu. please reply sir

[@CASumitSharma]

Keep records of transaction File ITR accordingly

[@RajaBabu-qv1zs]

@CASumitSharma salary pers hu ITR filled krta hu every yr per only salary income, rewards income show nhi krta hu

[@harip2c640]

Abhi tak kuchh tax laga hai ya nhi me bhi soch rha hu apke jesa hi karne ka mere pas bhi 3 card hai rewards ke liye aisa hi karuga pr tax yo nhi lagega 😢

[@nikhildesale296]

Agar mai mere dost ki mobile shop par credit card usen use karne deta hoon aur vo uske sare customer jinko cashback vaigare ka offer hain vo kar ke deta jisse ki mere income bas reward points aur gift voucher ke surat main hoti hain.. to main uska record kaise rakhu.. mera credit card se to main bass transaction kar raha hoon aur unka payment samne wale logo se lekr unsa cashback unhi ko mil raha hain.. muze bass uske reward points aur gift voucher. Tb kya isa record rakhna mare liye jaroori hain.. aur main iska record kaise rakhu..?

[@CASumitSharma]

Credit card ka bill kaha se pay Kiya Ye proofs hona chaiye

[@deepak.dhikri]

Finance minister should change

[@CASumitSharma]

👍

[@bgmiomkar6966]

how many credit cards you have and total limit of your all cards and your highestcard limit

[@CASumitSharma]

To whom you are asking?

[@bgmiomkar6966]

@CASumitSharma to you

[@bgmiomkar6966]

@@CASumitSharma to you

[@rkumar2869]

bhai me credit card ka bil bhrne ke liye card ki limit se cash nikalke bil bhrta hu us pese ko kese sho kre

[@CASumitSharma]

Books of accounts maintain kro

[@debnathnayak1198]

Tum to karje me hi dub jaoge phele 😂

[@mukesh08vit]

Bhai ye news sirf business wale aur mantri , doctor ke liye hain.. aam aadmi ke pass kaha se itna payment hoga

[@CASumitSharma]

👍

[@sushilkumarmaurya9143]

Cash deposit if done in different months totalling is more than 1 lacs can receive IT notice or in one go if cash deposit is deposit is more than 1 lac then IT notice will receive

[@mananjain303]

In total in 1 year

[@CASumitSharma]

No

[@nathulaljat-zg6sp]

सर मेने credit card के आवेदन नहीं था लेकिन कारड जारी करदिया, शुल्क खातेसे काट लिया,मैंनेकीई बार मेल केमाध्यम से लिखा अभी तकa/c close नहीं किया है कलोज ,हल बताऐ सर

[@CASumitSharma]

Customer care me baat krlo

[@Rehaan_.]

mere pas sbi ke 2 cards h. dono ko mila kar 10 lakh krne par income tax ko report hoga ya dono ko mila kar 10 lakh spend krne par report hoga?

[@CASumitSharma]

Card company alag alag hai to nahi jayegi

[@balbirkamboj1454]

M ek baat puchna chata hu . K ye rule aam logo ke liye h ya netao ke liye h . Neta to full mje le rhe h tb kha jata h income tax

[@CASumitSharma]

👍

[@sandeepdoharey1317]

How much do you charge for itr

[@CASumitSharma]

Please call during working hours We will be happy to Provide you our professional services 8875042000 (Call & WhatsApp) 8875242000 (Calling) 9694842000 (Calling) [e-mail]

[@OpMonika79]

Agar Main Credit Card Se Bank Me Paisa Transfer Karti hu to waha pr transfer charges+ gst charges dono cut ho ke bank me transfer hota hai to koi tax nahi lagega na

[@vikaskumarmeena4033]

kitna charge lgta h bank transfer krne pr

[@OpMonika79]

@vikaskumarmeena4033 GB CASH app se transfer hota h

[@OpMonika79]

@vikaskumarmeena4033 1.50% Lagta hai

[@CASumitSharma]

Tax is need to pay on income

[@vikaskumarmeena4033]

@@OpMonika79 tax to nhi lgega...but bank m transfer krne ka kya process h

[@SubhashYadav-t7g]

New rule kb Se lagu hai

[@CASumitSharma]

FY wise

[@RadhikaSharma-js3bn]

good information

[@CASumitSharma]

Thank you

[@nikhildesale296]

Agar mera card mere dost ristedar sab use karte ho.. to uska use 15 lac ke upar jata hai aur uska payment krta hoon tab kya hoga.?

[@CASumitSharma]

File ITR accordingly Otherwise department can ask sources of bill paid

[@shravannayak777]

0:32 kab start hua bhai

[@CASumitSharma]

Kal Ho jayega bro

[@sunildevtv]

I have 6 cards I used them for my friends and paid all of them on time so how this will justify if I received any notice

[@CASumitSharma]

Department can ask bill paid amount sources

[@sunildevtv]

@ thanks for the revert if the money transferred from my friend through online then the IT team will consider the same or not ?

[@Entertainment-bz5wu]

Sir I use credit card. I have two Cards. And I use nearly Rs. 4 lacs in a year. My question is. Should I show these expenses in my ITR. Bcoz I file my ITR every year myself, but I don't show my credit card bills in ITR. Kindly reply.

[@CASumitSharma]

No need on ITR 1,2,4 Can show if filing ITR 3

[@manaranjanthenayak9428]

GST to le raha hai kaise interest free ho geya

[@CASumitSharma]

👍

[@mohithkalyan]

Yovv... what If I have savings from previous years.. .What If I have personal loan and pay credit card bills with that.. kuch bhi rules

[@CASumitSharma]

Then no problem if you have proper source proofs

[@shamzu9986]

My cousin is a travel agent and he also do utility bill services . I gave my icici amazon credit card to him. And I was getting cashback in my amazon wallet. So what to with this scenario? My credit card limit is 3lac. Average monthly bill around 2.2 lac. He pay the bill directly from his account. I just gave my credit card for cashback.

[@CASumitSharma]

Your pan can Department can ask you source of credit card bill paid If you have proofs justification then no problem

[@sanjaymohan4046]

Average monthly bill of 2.2 lakh means, annual expenditure of 25lakh through credit card. This means you should be earning around 25 lakh or more per annum. But if you are showing just 5 lakh or even 10 lakh in ITR, then how are you spending 25 lakh on one card?

[@BilalAhmad-yu3yc]

Is this applicable on 2024 or from 2025

[@CASumitSharma]

Finance year wise 1.4.24 to 31.3.25

[@Kumarkrishna1221]

Rent paument ke name par apne relative ko paise transfer karne par kya uska bhi income tax lagega mai crefit card se sabse jyada payment rent payment hi karta hun

[@CASumitSharma]

Need to show in ITR

[@nilsankarsblog]

Garibo ka sarkar hain, Middle class waley ki nahi

[@CASumitSharma]

👍

[@sk4you95]

क्रेडिट कार्ड के थोड़े से लाभ के लिए परेशानी आ सकती है

[@CASumitSharma]

True

[@allthing247]

Accha di😅😅n 🎉 agaya andabhaktas sandasu tax

[@CASumitSharma]

👍

[@rajsah5164]

Credit card mai bhar bhar k GST or intrest bhartey hey hum credit card use karney waley

[@CASumitSharma]

👍

[@sintusagar1121]

Kuch din bad sans lene par bhi tax lagega ki ek financial year me kitni bar sans li according to fm 😂😂

[@CASumitSharma]

😁

[@digbijoydasgupta7408]

What If I pay Someone's expenses via my credit card, and If they return the money and I pay the bill, in this scenario all these Income tax rule will be applied?

[@CASumitSharma]

Need to keep proper records Proofs Agreement for the transactions

[@JaihindGM]

Most of the time I give my credit card for My friends And relatives during emergency to pay medical hospital bills and marriage or any house hold expense to pay and they give cash to us to make payment and here too government is making none should not help to relatives in emergency such an insane income tax rules Shame with government of India

[@CASumitSharma]

👍

[@MOTOFLIXGARAGE]

Paise rakhna ka tax, paise kharch karna ka tax, paise nahi yo fine, laise zyad hai to service charge, paise naui diya to surcharge, paise bheja to service charge, receive Kiya to service charge, ab bas hagne aur mutne mein tax lagana baki hai

[@CASumitSharma]

👍

[@abulkalamansari1788]

Mujhe ITR filing

[@CASumitSharma]

We will be happy to Provide you our professional services 8875042000 (Call & WhatsApp) 8875242000 (Calling) 9694842000 (Calling) [e-mail]

[@AliIslam-cx3yp]

Aur income kaise pta kare

[@CASumitSharma]

Time kamaye hai Tujhe pata hoga ya mujhe pata hoga Teri income

[@track0123456789]

Crore ka credit card bill, kaun pay karta hain monthly india mein?

[@CASumitSharma]

Bahut log hai bhai Do you need any confirmation Get in touch with us [e-mail]

[@Rohit55001]

Hi sakta hai

[@RAMESHKUMAR-rs4en]

1:04 topic start

[@CASumitSharma]

👍

[@shabirali4549]

mara 1 lakh tak hota as 95% srf petrol pr hota as pr be tex lage ga ja

[@CASumitSharma]

No

[@sateesh666]

Credit trap milthahae

[@CASumitSharma]

👍

[@SacchBolunga]

Total cashback 50000rs tak income tax me nahi ata, uss upar cashback hua to uspe income tax lgega

[@CASumitSharma]

Achyaaa

[@SacchBolunga]

Yes bro

[@firdauskhan8732]

Kya ye top industrialist ke liye bhi applicable hai ya fir middle class ko torture karne ka plan

[@CASumitSharma]

For all

[@sk4you95]

मेरा तो यह कहना है कि जहां संभव हो, क्रेडिट कार्ड से दूर रहें, क्रेडिट कार्ड के स्थान पर लोन ले सकते हो

[@CASumitSharma]

True

[@ajeetchauhan995]

क्रेडिट कार्ड लोग लोन के लिय नहीं कैश बैक के लिय इस्तेमाल करते है

[@dipuyadav001]

Completely wrong Credit Card pr 10_10 lacs ka loan without documents milta hai... Aur Life time free wala CC ko EMI Convent karwa lo Loan se bahot cheapest hota hai😊

[@danishkhan-mx9rx]

Dream 11 pr tds kata tha return ho sakta hai kya

[@CASumitSharma]

No

[@bsnmurthy6221]

Please take 100% salary of all middle class and increase beggars in India. Ha, income tax on begging is also a new source

[@CASumitSharma]

👍

[@sudnai4169]

Just few more years, I will retire earlier and will not pay any tax to this gvt and will go and live in pahad

[@CASumitSharma]

👍

[@DigiTools23]

Tax janta deti hai .. or uska pesa govt. Election me uda deti hai

[@CASumitSharma]

True

[@rajeshjimahan]

I have 16cc

[@CASumitSharma]

Best wishes

[@SwamiAmol]

Thanks for info great job

[@CASumitSharma]

Glad it was helpful!