Getting a merchant code and make payments to it

[sam_007]

Hey guys,

If I get a merchant QR code and make payments to it (50k monthly), so will it get added to my tax while filing ITR?

Please advise.
Thank you!

 

[krishna1718]

Hey guys,

If I get a merchant QR code and make payments to it (50k monthly), so will it get added to my tax while filing ITR?

Please advise.
Thank you!

you have to report it as income and its 6 lakhs per annum so you must file itr including it else they may issue notice

 

[sam_007]

Thanks for replying . Also, if I add money in my bank account using credit cards to pay bill of other credit cards. Will that be considered as an extra source of income as well?

 

[krishna1718]

Thanks for replying . Also, if I add money in my bank account using credit cards to pay bill of other credit cards. Will that be considered as an extra source of income as well?

no because credit card to wallet/bank treated as debt paying bill is loan repay it will not considered but the more you spend and more you pay you need to match itr to it else income tax dep may send notice to give clarification