IT SMS on high value transactions for credit card payments

[gurbina]

Surprised to see nobody has posted anything about this yet, I've seen a few posts in different forums and Reddit.

I've myself received it too, SMS from Income Tax Department requesting for feedback on High Value transactions, in this case I checked and it is due to credit card payments.

In my case my ITR is lesser than Credit Card payments made but seems like some people received even when that was not the case also from credit card payments, among other cases like such as large cash deposits or transfers which are a different topic.

 

[coolguy1]

In my case my ITR is lesser than Credit Card payments made

This seems to be the cause of the problem. Consult a CA and ensure you're filing your ITR right to avoid any issues.

 

[gurbina]

This seems to be the cause of the problem. Consult a CA and ensure you're filing your ITR right to avoid any issues.

Yeah, correctly filed my ITR. But seems this is an automated SMS that quite a large amount of people are receiving regardless of their ITR and probably a heads up of what's coming up in the near future.

 

[Odugu Narasimha Rao]

Surprised to see nobody has posted anything about this yet, I've seen a few posts in different forums and Reddit.

I've myself received it too, SMS from Income Tax Department requesting for feedback on High Value transactions, in this case I checked and it is due to credit card payments.

In my case my ITR is lesser than Credit Card payments made but seems like some people received even when that was not the case also from credit card payments, among other cases like such as large cash deposits or transfers which are a different topic.

I also received the same sms

 

[sourpai]

I also received this message last year when I had purchased a car without loan

It is not much of an issue. If your income is more than the transaction value and total transactions done in that FY, then you can ignore this message. I just ignored it and nothing happened thereafter. But my income was higher than this transaction and all other cc transactions combined

This message is like a nudge for you to do something in case there is income-expense mismatch

 

[Nemesis]

1st message you always can ignore if they came 2nd time then you can get serious

 

[Bugs Bunny]

 

[Yugi]

I also received this message last year when I had purchased a car without loan

It is not much of an issue. If your income is more than the transaction value and total transactions done in that FY, then you can ignore this message. I just ignored it and nothing happened thereafter. But my income was higher than this transaction and all other cc transactions combined

This message is like a nudge for you to do something in case there is income-expense mismatch

Don't ignore it, go to Income tax portal and in compliance tab select the relevant answer. If you don't answer they will fine you at one go. The penalties is not worth ignoring the message.

 

[Yugi]

1st message you always can ignore if they came 2nd time then you can get serious

Don't ignore the first message too, it take 2 mins to go to income tax portal and record your response. There are no proofs asked, so better to respond.

 

[Yugi]

Surprised to see nobody has posted anything about this yet, I've seen a few posts in different forums and Reddit.

I've myself received it too, SMS from Income Tax Department requesting for feedback on High Value transactions, in this case I checked and it is due to credit card payments.

In my case my ITR is lesser than Credit Card payments made but seems like some people received even when that was not the case also from credit card payments, among other cases like such as large cash deposits or transfers which are a different topic.

There are already multiple threads on this issue here. Famous thread here : (1) AIS & Credit Card Usage Notice | TechnoFino - #1 Community Of Credit Card & Banking Experts

 

[SSV]

Surprised to see nobody has posted anything about this yet, I've seen a few posts in different forums and Reddit.

I've myself received it too, SMS from Income Tax Department requesting for feedback on High Value transactions, in this case I checked and it is due to credit card payments.

In my case my ITR is lesser than Credit Card payments made but seems like some people received even when that was not the case also from credit card payments, among other cases like such as large cash deposits or transfers which are a different topic.

More official information here:

https://x.com/incometaxindia/status/1739665873877496185?s=46