Infinia Are Credit Card Rewards Over ₹50K Taxable? A Nightmare for Premium Cardholders? 💳

[rounakbhowmik]

With AIS (Annual Information Statement) tracking almost every financial transaction, there’s speculation that credit card reward points exceeding ₹50,000 in value will be taxable. If this happens, premium cardholders, especially those with super-premium cards, could face taxation on what was once considered a bonus. This could change the way we view rewards entirely.

 

[Shoxie]

Unwanted taxation kills businesses. High tax kills economy growth. Govt can't find any other better income source so tax is their only resort.

Bank employees who got lesser interest rate loan need to pay tax for the difference.

No tax exemption on concessional or interest free loan from the employer, not even for bank employees, says SC

Bank employees have to pay income tax if they had taken loan from their employers at a concessional or interest free rate.

m.economictimes.com

Similarly govt is trying to bring in taxation wherever possible. People in 30% slab suffers the most. Sad sate of affairs but it is what it is.

For all the things that the previous government did, at least they adjust tax slabs with inflation. The current government only reduces taxes for corporates and doesn't really adjust the slab at the higher end. This is only for Direct tax. The less spoken about Gst, the better it is.

 

[cardio_guy]

Sorry to have commented here. It will turn to a political discussion. I have deleted my comment.

 

[nishank]

F*** this government as their tax structure is pathetic