Are cashbacks on mobile wallets taxable?

Hey @TeamQuicko

Are cashbacks that I receive on my mobile wallets taxable? If yes, under which category will they fall?

Hey @SonalYadav

If you receive any kind of monetary benefit that is in the form of either gifts or cashback, these fall under the head, ‘Income from Other Sources’ or ‘Profits and Gains from Business or Profession’.

Moreover, when you receive some money and the total value of such a sum exceeds ₹50,000 in a year, then it is subject to the tax called gift tax.

Hope this helps! :slight_smile: