I do rent payments from my own card to my own account. Is there any problem with it?

[hritikkd]

Like recently from this month onwards the platforms like cred phonepe asked for pan card of the landlord bank account. Can someone explain about it? Why and what are the things i should consider before doing this.

 

[Amol Rathod]

1st of all we can’t make rent payment to our own account through cred n all .

 

[hritikkd]

Oh yes sorry the situation is like the credit card is my mothers and the bank account is mine.

 

[Amol Rathod]

Okay

While filing tax return rent payment will be consider as an income in your mom ITR. If it goes beyond limit then may be your mom have to pay taxes on it . Plz confirm with another I said as per my thinking .

 

[hritikkd]

But she doesn't file ITR.

 

[zacobite]

Like recently from this month onwards the platforms like cred phonepe asked for pan card of the landlord bank account. Can someone explain about it? Why and what are the things i should consider before doing this.

All banks charge for rent transactions.. they will also stop soon. If amount is high you may get a query.. she is supposed to. report the rent as income if it is beyond a certain level as per IT.. So if avoidable pls. avoid these kind of transactions.. will / may hurt you or your mom later.. one off in an emergency is ok.. but if u do regularly even the bank may block your card