Multiple 5L Credit card spends reported on AIS ?

[vbhalla]

Hi ,
I know that there is a 10L spend limit on credit cards for a financial year by the IT dept.
I wanted to know if I spend 5L on 3-4 cards of different banks, which cummulatively will amount to more than 10L, but will be less than the 10L reporting limit, will the banks reports these to IT dept ?
I presently have spent ~9.5L cummulately on 3 cards ( 4L on one , ~5L on the second and ~50k on the third) . Can I go ahead and use the cards for future purchases this FY. I see my expenditure to be around 1-1.2L in the coming month. Which will breach the 10L cummulative limit for this FY. Please suggest.

 

[bhushan0101]

The limit of 10 lac is bank wise. You can spend upto 10 lac with each bank cards you hold to not reported to ais in income tax.

 

[arunkd386]

I have total spends of 10.5 L till Feb statement. Can i make additional payment of 60k in March month before statement generation to avoid reporting?

 

[vbhalla]

have you spent 10.5L using a single card? if yes, then it will get reported irrespespective of the 60k march payment.