TaxTMI 
TaxTMI 
Dear Freinds, In ITR Forms for AIR details limit of Rs.2 Lacs for credit card is for a single credit card or all credit cards put toghether. Is there any clarification from CBDT if so please give Notification/ circular no. Best Regards
Clarification - CBDT
03 Nov 2008 
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Credit card reporting threshold applies per card; report total payments for each card exceeding the threshold.
The reporting threshold for credit card payments in the Income Tax Return applies per credit card. Taxpayers must aggregate all payments made during the year against each individual credit card, identify cards whose annual payments meet or exceed the threshold, and disclose the total payments for those qualifying cards; cards with annual payments below the threshold need not be reported. (AI Summary)
The reporting threshold for credit card payments in the Income Tax Return applies per credit card. Taxpayers must aggregate all payments made during the year against each individual credit card, identify cards whose annual payments meet or exceed the threshold, and disclose the total payments for those qualifying cards; cards with annual payments below the threshold need not be reported. (AI Summary)