I'm an old user of DD, but I have created this new account for my problem 'coz I'm not feeling comfortable with my actual account.
I'll try to sum up my whole issue here in the hopes that someone can help me because I'm really stuck badly.
I have been completing my master's degree in London, UK, for the past two years.
Before I left India, I gave my family my Indian SIM card, credit card, and a few other crucial documents. One of my cousins deployed my credit card to make purchases during sales, promotions, and other events. I had an HDFC bank credit card with a 10 Lakh limit.
In summary, we can say that he has been using my card for the past one to two years, but last week, when I returned to India, I was shocked by something unexpected.
Out of the 10 lakh credit limit, 5 lakh was used for the Smart EMI option, where EMI was detected each month. The remaining 5 lakh was rotated by him each month. In other words, we can say that he spent the full 10 lakh and was left with no money to return to the bank, so he began using the remaining credit limit to rotate the money back to pay credit card bills. When I downloaded the bank statements from the previous year, I nearly passed out because each statement was for 4 or 5 lakh, and he paid these enormous statements by withdrawing the remaining balance from the credit card and applying it back to the bank.
He rotated 5 lakh using all of the kids' rent payment platforms and credit to bank transfer platforms each month. To enable these transfers, he had to pay hefty fees each month totaling 15k.
Here's the big problem: I haven't filed my ITR for the past two years, therefore yesterday I received a notice indicating as much.
You do not appear to have filed an Income Tax Return for Assessment Year 2023-24 (relating to FY 2022-23). Some significant information available with the Income Tax Department includes the following: Miscellaneous payment - Rs 48,75,782
The last date for filing Income tax return for Assessment Year 2023-24 (relating to FY 2022-23) is <31st December 2023>
Yes, they are inquiring as to the purpose of these 50 lakh payments.
The second communication is from HDFC Bank directly, and they're questioning me about what on earth I was doing with my credit card, to which I had no response, 'coz I had no idea of anything.
I had no idea what was going on with my credit card or anything else in India because this dumbass had tricked me by changing my email address and obtaining my Indian phone number!
When I phoned my cousin, who left India last month, and asked him what the heck he was doing with my credit card, he answered so casually. Whoa! Please don't worry, I'll return your money. and as of right now, I owe 10 Lakh. Even this month's credit card statement also shows a staggering 5.2 lakh.
I came to India to enjoy some time with my family after a long time away, and I was taken shocked by this. I feel afraid stuck, and worried right now.
I have a 10 Lakh debit, my ITR is not submitted, and they are questioning me about 50 Lakh. What's worse is that this is related to FY 2022–2023, which means I will receive similar notifications for the next Assessment Year as well because this has been going on for more than 20 months.
Please let me know what to do, I need some advice.Naturally, I need a CA first, but how in the world am I going to explain this to him? I have no idea how much the solution will end up costing!
Please assist if you have any knowledge or experience.
Ye notice nahi hai.. ecampaign hai reminder to file itr.. jo itr file nahi karte unko aaya hai.. notice tab aayega jab itr bharne ke baad uska data mismatch hota hai..
Releif
Now biggest issue is money recovery of 10 Lakh Fraud
Mere wife acc me bhi aaya tha.. Maine reply Diya I am going to file itr. Ye option select kar bhej diya. as 31 dec is last date.. and did file itr it also processed successfully
10L misc spend tha
Are u in blr by any chance ?? Can visit us if you are in blr ...
Who gives all such personal banking authority to other person? You must be getting regular statements on your registered email, never checked in last 2yrs? Or Email access also transferred?
There are many questionable scenarios here, anyway hope someone will help you sort this issue. Others will get finance lesson.
As per your statement your cousin seems to be very casual with the issue , in that case contact his parents at earliest and ask for payment and his attitude . If they also are less bothersome or arrogant on you on hearing it , straight away file a police complaint as its difficult what all other things he did with it . Keep in mind about how he got access to your card and sim from family members as they will be questioned if complained.
Getting a Good CA is must but be ready to pay .
how 10lac CC limit was converted to 50lacs bill.
Somebody care to explain ?
It's not 50 Lac Bill
It's 50 Lakh turnover which got generated after using 5 Lakhs per month every circle
Total due is 10 Lakh now which he took & Ran
Scammer does fraud of 50000 Amount
Cousin does a fraud of 10 Lakhs
Le Your cousin
Full creditcardbaazi
@abhishek012 bhai twitter handle kya hai. Follow karna hai
Money rotation bekar cheej hai.. koi mat Karo.. ek to card devlaue ho jata jai.. dusra logo ko notice AA jata hai.. jinko samjh nahi aata na kare..
bas deals should keep coming..
In my DM 
Bidi paan gutkha sharab sabhi cheeje sehat ke liye hanikarak hai fir bhi ads aate Hain..
Freedom hai logo ke paas how they want use poision..
Mere dada ji 100 plus jee kar Gaye.. hukka ke Bina dekha nahi kabhi.. yaha log Bina bidi gutkha pan khaye nipat le rahe 40 me..
Ham ek deal me bolenge ki sab kud jao kuan me to kud jana.. deal is coming..
Aankh band Karo jump xd
Cc is loan. How it can be a ur income? Matlab 1 CR ka loan lekar acc me rakh le to uska tax Dena padega,,🤯
SBI card me to option hi hai transfer to bank with some charges.. matlab ye sab tax income category me hai.. kuchh bhi..
Mera cc mera acc.. I pay taxes or whatever charges to get in my acc..means I have already paid GST etc on those money to have in bank.. alag se income me bhi dikhate hain kya log loan ko as a income?
Already said that's not notice.. it's reminder to file tax..
If they have my pan and they can track how much money I paid on cc bill . Means they also have all my balance information also loan information.. still if all is ur money and spend.. then how it's tuff to explain? Just reply u have 30 cc u have transfer money in bank account with qbc apps u have earned some interest or did some business then paid back..and u paid itr on income u earned with that money..
This is really devastating. First of all you shouldn't have given any personal docs/info to anyone apart from your family members (knowing the consequences very well being a old dimer on DD) and it seems like your cousin took advantage of this situation and thought of enjoying his life with your card and never pay HDFC back but now both of you guys are in big mess.
Is he even employed? If yes, how much is he earning right now? and whatever it is tell him to pay and clear all dues.
You can directly consult him first and talk it out and decide mutually how you guys want to settle these bills. If he's still making excuses tell him you'll be filing a FIR immediately and consult a CA. You'll need some strong justifications since you weren't available in India.
One thing i did not understand here is how did on earth did your cousin had access to this cc? Did your parents gave him?
if yes, didn't they inform you that he's using it or something. Also, how did he access to all the txn otps?
Everything will be fine. Pls make sure you're following the right path and not lying to anyone if you do probably you'll be screwed.
Millionaires (mil $) go and stay in London. You all can easily throw back 50lac or 10lac to bank ? It must be equivalent to me spending Rs. 4000 on online games by mistake, big panic and fight in house for 1 year, but amount settlement is taken care of in few days by household. For earning India 4000 is not too big and payment route too was legal, not blackmoney
you cn do one thing, just run away from the country
For IT thats not an issue , you can file a return stating that you are NRI . Worst case they can ask foreign country returns .
But you should file an fir and sue your cousin for this chikanery.
bro it looks shady in the first instant. you were in london for 2 years, you left sim with family, your cousin got your card, you must be getting email statement and transaction detains over email so why you were not responding to it.
we may change mobile but most of us keep same email id for banks and cards. this must be your own spends and now you are looking for a solution for your own rotations. not good bro.
I am a CA aspirant and dealt with the same issue with one of my clients. His AIS reflected almost 1 cr usage from different credit cards in total in FY 21-22, so we have filed an IT return showing that as his business is financing money to outsiders for 3 to 5% interest rate and repaying to the credit card at 2.5% charges every month.
Effectively his gain is around 0.5% to 2.5% which is around 2.5 lacs max,
But we voluntarily quoted other income also and finally paid tax around 20k to 25k just to satisfy the IT department, however justifying the bank is a different thing just tell them a reason which will please them
Bhai jaise tumhare cousin k kaam hain vo pakka ype post padh chuka hoga dd par
ye cousin ye sb na krke direct 10 lakh withraw kr leta to b better tha, transaction/service charge to kbi recover na hore
In my opinion, launch a FIR against your cousin because you do not know yet what other things he has did behind your absence, prove authorities you were outside India and someone has done financial frauds
Or Pay everything to bank and income tax department 😔
You can take a sympathetic stand that, to reimburse the foreign study expenses, your family took some hand loan in India and due to its repayment pressure, managing it by credit card rotation every month.
Idhar mera cousin apni activa bhi nahi deta kabhi 5 min ke liye.