Complete the correlation Commodity money : Shells ::__________ : Credit card. | Shaalaa.com
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High-value credit card spending must be supported by disclosed income. As per Section 69C of the Income-tax Act, 1961, any expenditure not satisfactorily explained may be treated as unexplained expenditure and deemed as income, attracting tax, interest, and applicable penalties. Cashback-driven or third-party credit card transactions, if disproportionate to returned income and unsupported by evidence, can invite scrutiny and additions. Ensure spending aligns with declared income and is properly
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