Reliance Money Limit Card Charges

Hi,

I would like to know if the Limit Card charges deducted by RelianceMoney can be accounted for while filing tax returns.
(i.e. can it be shown as expense along with STT charges)

Thanks in advance for the replies

Hi Mr. Bugs..

As I read an article in Profit magazine only equity transactions can be used for tax purposes.

regards
venkven

If you are filing your capital gains/ losses as business income, you can deduct Rmoney limit card charges. However, if you are showing your capital gains/losses in the ST Capital Gains/ LT Capital gains category, you are not allowed to deduct limit card charges.

Rgds,