income tax liability for credit card holders, Income Tax

[ABDUL RAHIM K M]

1).THERE IS ANY REGULATION OR ANY RULE RELATED TO INCOME TAX FOR CREDIT CARD HOLDERS?
2).THERE IS ANY LIMIT FOR CREDIT CARD TRANSACTION ? IF THERE ANY LIMIT ,WHICH TYPE OF PAYMENT INCLUDES THOSE LIMIT. ie,Repayment of purchasing product and repayment of cash loan avail from credit card

Posts / Replies

[Vivek Harsh]

Institution issuing credit card is required to give info. on payments made by any person against bill raised in respect of credit card issued to that person aggregating to two lakh rupees or more in the year to the department