Advance Tax Payments

[josh4amit]

Credit Cards Offering Benefits as of September 2024:

HDFC BizBlack - Accelerated benefits of 16.6% tax payments up to ₹50,000 per month. 3.3% after 50k
IDFC First Vistara Card - Milestone benefits with reward rate.
SBI Vistara - Milestone benefits; no reward rate.
Amex Platinum Travel - Milestone benefits; no reward rate.
ICICI Amazon Pay - 1% cashback.
Yes Marquee - 1.25% as points

 

[Abhishek20]

Does Kotak gateway not charge a fee for tax payment using Kotak credit cards? I just made a advance tax payment using Kotak 811 card and got no additional charges levied. Got it's milestone reward completed.

 

[HumorSimpson]

Does Kotak gateway not charge a fee for tax payment using Kotak credit cards? I just made a advance tax payment using Kotak 811 card and got no additional charges levied. Got it's milestone reward completed.

Thanks this is what I have been asking. Even after bill is it not levied?

 

[anujdit]

Use Yes Reserv with 3x subscription to get 2.5% rewards + 1 % HDFC Plat DC - 0.8% Gateway charges = Net 2.7% rewards for Income tax
Or Use Yes Marquee to get net 1.5% rewards

 

[cardoptimizer]

Creating a wiki post to maintain an updated list of credit cards that offer benefits for tax payments.

Starting this with a simple list, which will later be expanded into a table containing reward rates and other relevant information.

Credit Cards Offering Benefits as of September 2024:

1. HDFC BizBlack - Accelerated benefits of 16.6% tax payments up to ₹50,000 per month. 3.3% after 50k
2. IDFC First Vistara Card - Milestone benefits with reward rate.
3. SBI Vistara - Milestone benefits; no reward rate.
4. Amex Platinum Travel - Milestone benefits; no reward rate.
5. ICICI Amazon Pay - 1% cashback.
6. Yes Marquee - 1.25% as points

 

[tachniki]

SBI cashback doesn't have govt transactions excluded. 🤫 But no one tries that.

 

[Riya Sharma]

Creating a wiki post to maintain an updated list of credit cards that offer benefits for tax payments.

Starting this with a simple list, which will later be expanded into a table containing reward rates and other relevant information.

Credit Cards Offering Benefits as of September 2024:

1. HDFC BizBlack - Accelerated benefits of 16.6% tax payments up to ₹50,000 per month. 3.3% after 50k
2. IDFC First Vistara Card - Milestone benefits with reward rate.
3. SBI Vistara - Milestone benefits; no reward rate.
4. Amex Platinum Travel - Milestone benefits; no reward rate.
5. ICICI Amazon Pay - 1% cashback.
6. Kiwi Card - ?
7. Yes Reserve
8. Yes Marquee
9. ?
10. ?

What about Amex Gold? It should give the base rewards since Government spends are not excluded right?

 

[Slayer]

Thread already exists, if you feel wikipost is more sensible then mods pls look into merging the other one with this @vaibhav111 @BVC

J

Thread 'Advance Tax Payments'

Jun 12, 2024

Credit Cards Offering Benefits as of September 2024:

HDFC BizBlack - Accelerated benefits of 16.6% tax payments up to ₹50,000 per month. 3.3% after 50k
IDFC First Vistara Card - Milestone benefits with reward rate.
SBI Vistara - Milestone benefits; no reward rate.
Amex Platinum Travel - Milestone benefits; no reward rate.
ICICI Amazon Pay - 1% cashback.
Yes Marquee - 1.25% as points

• josh4amit
• advance tax tax
• Replies: 31
• Forum: Super Premium Credit Cards

• 

 

[HumorSimpson]

SBI cashback doesn't have govt transactions excluded. 🤫 But no one tries that.

Someone did try and didn't get. It's somewhere in this forum.

 

[cardoptimizer]

Thread already exists, if you feel wikipost is more sensible then mods pls look into merging the other one with this @vaibhav111 @BVC

J

Thread 'Advance Tax Payments'

Jun 12, 2024

Credit Cards Offering Benefits as of September 2024:

HDFC BizBlack - Accelerated benefits of 16.6% tax payments up to ₹50,000 per month. 3.3% after 50k
IDFC First Vistara Card - Milestone benefits with reward rate.
SBI Vistara - Milestone benefits; no reward rate.
Amex Platinum Travel - Milestone benefits; no reward rate.
ICICI Amazon Pay - 1% cashback.
Yes Marquee - 1.25% as points

• josh4amit
• advance tax tax
• Replies: 31
• Forum: Super Premium Credit Cards

• 

This is wiki thread so anyone can update it if i missed to update it continuously. Also too many threads where people asking for card for tax payment. Having one updated wiki by mod or someone else will help.

 

[panu24]

Thread already exists, if you feel wikipost is more sensible then mods pls look into merging the other one with this @vaibhav111 @BVC

J

Thread 'Advance Tax Payments'

Jun 12, 2024

Credit Cards Offering Benefits as of September 2024:

HDFC BizBlack - Accelerated benefits of 16.6% tax payments up to ₹50,000 per month. 3.3% after 50k
IDFC First Vistara Card - Milestone benefits with reward rate.
SBI Vistara - Milestone benefits; no reward rate.
Amex Platinum Travel - Milestone benefits; no reward rate.
ICICI Amazon Pay - 1% cashback.
Yes Marquee - 1.25% as points

• josh4amit
• advance tax tax
• Replies: 31
• Forum: Super Premium Credit Cards

• 

I agree with @Slayer There are already many threads going on on tax payment topic. The eligible card list is going down and topics where people asking which card to use for tax payments is increasing every week.
@vaibhav111 try to merge this topic with existing topic.

 

[sam4]

I have one query regarding advance tax payment.
for example if tax liability at the end of the year is going to be around 6 lakh for self employed professional filing IT return under 44ADA then advance tax can be paid 50k each month(total 12 chalan payment) using biz black for optimal utilization? or only 4 payment allowed per FY (1 for every quarter)?
Any valuable insight is appreciated. Thanks

 

[Shoxie]

I have one query regarding advance tax payment.
for example if tax liability at the end of the year is going to be around 6 lakh for self employed professional filing IT return under 44ADA then advance tax can be paid 50k each month(total 12 chalan payment) using biz black for optimal utilization? or only 4 payment allowed per FY (1 for every quarter)?
Any valuable insight is appreciated. Thanks

Well, under 44ada, you can deposit 100% of Advance tax on March 15 itself. Need not deposit any advance tax in any of the preceeding quarters.

Now you shall evaluate the interest cost implications.