i have a evault online account where i upload funds from my credit cards in doller and when i withdraw money from my that evalut account i got money back in my bank account as foreign inward remmitences.
Also i have lend money to my friends which i get back as money in my evalet account which again came back in my bank account As foreign reemmitences
question 1. i didnt earn a single penny from such trnsactions its all my money only lended or uploaded in evalut and coming back to my account as foreign remmitance the amount of such transaction is 10 lac around in financial year since i m working coporate where i get form 16 from employer is this money i have to show sepratly and pay taxes?.
question 2 if yes why as its my money only revolving and not generating a new income if it is taxed it mean double tax on same income ?
your response will be much appriciated
