Worried about my excessive use of credit cards?
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I need some advice! I made only 9 lakhs in FY20, and i spent 25 lakhs on my credit card in 23-24. I think my ITR might come under IT inspection. What precautions should I take now?
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It’s important to resolve any unpaid bills and possible tax problems.
Make sure you have all the receipts and invoices for any kind of unexpected medical bills, purchase of the property, business expenses or any travelling related to your job profile. If you have taken any loan, make sure you have all the valid loan documents.
But if you can't justify your spending, just be honest while filling your tax return. You can get help from a CA regarding tax filling and handling interaction with tax department.