What is the Credit Card expenses limit for Income Tax purpose in India?



I have a lots of Credit card of several Bank. I want to know that how much should i expenses from my particular card for income Tax purpose in india?

What is the Credit Card expenses limit for Income Tax purpose in India?
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2 Replies to “What is the Credit Card expenses limit for Income Tax purpose in India?”

  1. As such there is no restriction in Income tax law for spending, using credit cards issued by banks. Any payment of disproportionately higher amount (say, above Rs 50000) by a bank irrespective of whether the amount is, paid through debit/credit cards, or withdrawn by cheque will be notified to the Income tax department through annual information returns. If you are a regular tax payer, filing income tax returns, and if you have sufficient declared income, you can spend any amount using credit cards.


  2. You may use your credit card for any amount. But you have file AIR return along with your income tax return. you should be able to clear the source of expenses.

    simple exp can not be more than income

    tulsi





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