income tax liability for credit card holders

[ABDUL RAHIM K M]

1).THERE IS ANY REGULATION OR ANY RULE RELATED TO INCOME TAX FOR CREDIT CARD HOLDERS?
2).THERE IS ANY LIMIT FOR CREDIT CARD TRANSACTION ? IF THERE ANY LIMIT ,WHICH TYPE OF PAYMENT INCLUDES THOSE LIMIT. ie,Repayment of purchasing product and repayment of cash loan avail from credit card

AI Summary

Credit Card Issuers Required to Report Payments Over Two Lakh Rupees Annually to Tax Department A user inquired about income tax regulations for credit card holders, specifically asking if there are any rules or transaction limits related to credit card payments, including product purchases and cash loan repayments. A respondent clarified that credit card issuers must report to the tax department any payments made by a cardholder that total two lakh rupees or more in a year.