Income tax notice for credit card spends..

[Alex292929]

If not, how can anyone arrive at the total income based on 80K advance tax paid ?

where did that come from?

 

[RAMESH BABU N]

where did that come from?

Read ALL the previpus posts. We are now in page 13.

 

[Vasuki]

Thread title should be - bashing of credit card rotator.
But everyone used axis loophole be it me or majority of tf PPL who are aware of the founder himself

 

[kushhh]

Thread title should be - bashing of credit card rotator.
But everyone used axis loophole be it me or majority of tf PPL who are aware of the founder himself

Pehle loota tha axis ko 1.5% ke liye ... Ab toh level up karliya , sbi cb se niche vale card ko chhoota bhi nahi 🤣

 

[Pradumya]

I pay 3L for ulip yearly which is tax exempted

First thing is under 80C one individual can only get 1.5L exemption.
The premium you pay should be less than 10% of your sum assured if you have purchased ULIP after 1st April 2012.

returns on above 2.5 L premium ulip is not tax exempt

This change was in section 10(10D) which was the maturity amount taxation. That too has conditions. The premium payment can be.tax exempt u/s 80C if opting old regime.

And your ulip is taxable as it is >2.5L.

The limit of Rs 2.5 lakhs applies to the combined premium of all the plans bought on or after 1st Feb, 2021.