Question in failed transaction of creditcard

[ongf]

I am seeking an answer of a question

Scenario:

if i have a credit card of limit of 2 lakhs. And i am purchasing anything thing of 1 lakh or 50k and when i am making the transaction the transaction got failed and the money got debited next day it was refunded.
Next day i did the transaction again it failed, in the similiar way. I checked my credit card statement my spending was shown for 3 lakhs but these were all failed transaction, money was debited and automatically it was refunded back next day.

So if this happens more offen and if my transactions are reported in an similiar manner so, can these failed transacrion also attract income tax notice? Even when none of these transactions were successful.

Please answer this question for the income tax idea, whether it will generate an income tax notice or not?

 

[amitvicky]

Nope, don't think so because this are failed transactions and bank must have sent notification to you about these failed transactions.

But interestingly, how all your transactions are failing?
Did you check that online transaction mode is not switched off??
Or its a site specific scenario?

 

[ongf]

Nope, don't think so because this are failed transactions and bank must have sent notification to you about these failed transactions.

But interestingly, how all your transactions are failing?
Did you check that online transaction mode is not switched off??
Or its a site specific scenario?

The thing is that the transacrion did not immediately got failed, the money gets debited and then after few hours it automatically gets credited back. In this case can this attract IT notice if done in lakhs?

 

[abhimarda]

The thing is that the transacrion did not immediately got failed, the money gets debited and then after few hours it automatically gets credited back. In this case can this attract IT notice if done in lakhs?

IT notice for failed transactions?? What sort of notice are you talking?

 

[GURUWALKE]

It notice Don't get basis how much u have spend. . How much u had paid in that financial year on that count if it is exceeding Limit of 10 Lac then u may get IT notice