Best card for ITR payment

[diptarkaroy]

As I calculated, I have to pay just over 1L as ITR tax due within the end of next month.

I have the below cards (not mentioning all the cards):
Yes marquee
SBI cashback
Icici sapphiro and APAY
IDFC wealth
AU Zenith
HDFC neu infinity
Bob premier
Kotak Myntra
Federal Imperio
Axis Airtel

Please suggest me which one would be the most rewarding!!!

 

[sid16]

HDFC BizBlack for all types of tax payments.

 

[Copycat]

Ah! won't make sense for me then. I mostly have salary income only.

Unless you have the consultant option....

https://www.business-standard.com/finance/personal-finance/salaried-vs-consultant-what-s-a-better-option-for-high-earners-in-india-124040100087_1.html

But then your company has to agree. Also, I don't think EPF would apply to you (I consider EPF deductions a good thing)

 

[diptarkaroy]

Everyone is suggesting about HDFC bizblack only
But I don’t think salaried people can get this card
Is there any other alternative?

 

[diptarkaroy]

I’ve found Kotak Myntra will give 1.25% cb on government payment as mcc 9311 is not in there exclusion list



Also yes marquee will give 1.25% rewards back (10 points on 200 rupees txn)

Am I missing something?

 

[sid16]

I’ve found Kotak Myntra will give 1.25% cb on government payment as mcc 9311 is not in there exclusion list

View attachment 56902

Also yes marquee will give 1.25% rewards back (10 points on 200 rupees txn)

Am I missing something?

The tax portals take around 1% transaction fees. Hence these cards which give rewards of close to 1% really don't give much value.

 

[diptarkaroy]

The tax portals take around 1% transaction fees. Hence these cards which give rewards of close to 1% really don't give much value.

Yeah… the only thing I’m looking for is to offset that transaction fees at least
I didn’t expect it to be 1L… so planning to pay by card for the time being 😂

 

[sid16]

Yeah… the only thing I’m looking for is to offset that transaction fees at least
I didn’t expect it to be 1L… so planning to pay by card for the time being 😂

If there is a real cashback offset of transaction fees along with free credit period of average 30 days, go for it..

 

[Dragon_slayer]

HDFC BizBlack for all types of tax payments.

Do you personally use this card? ( without having business )

 

[yuvaneshmohan]

I believe scapia still gives 2% value back in the form of points for govt transactions

 

[ankitfintech]

Don't!!!
Government spends are not included in 10x

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Is this devaluation also for IDFC Wealth Debit Card?

 

[Dragon_slayer]

Is this devaluation also for IDFC Wealth Debit Card?

DC will give 3X RP, instead of 10X after devaluation

 

[ankitfintech]

DC will give 3X RP, instead of 10X after devaluation

I have received 10x points for a transaction made on 24th june

 

[Dragon_slayer]

I have received 10x points for a transaction made on 24th june

What was the MCC for transaction?

 

[helloworld]

As I calculated, I have to pay just over 1L as ITR tax due within the end of next month.

I have the below cards (not mentioning all the cards):
Yes marquee
SBI cashback
Icici sapphiro and APAY
IDFC wealth
AU Zenith
HDFC neu infinity
Bob premier
Kotak Myntra
Federal Imperio
Axis Airtel

Please suggest me which one would be the most rewarding!!!

marquee or myntra

remaining 0 or <1% for govt. payments.

 

[jhanishdev]

Doesnt standard chartered ultimate give 2% on govt spends?I know redemption is not its forte but still an option.

Hdfc biz power and business regalia also give points.

 

[Visith]

marquee or myntra

remaining 0 or <1% for govt. payments.

Bro for Kotak Myntra won't there be any PG charges of 0.8%+GST? How is it yielding > 1% net?

 

[helloworld]

Doesnt standard chartered ultimate give 2% on govt spends?I know redemption is not its forte but still an option.

Hdfc biz power and business regalia also give points.

not in the list but yes.

 

[helloworld]

Bro for Kotak Myntra won't there be any PG charges of 0.8%+GST? How is it yielding > 1% net?

milestone helps little bit compared to other cards in list.

 

[brightknight]

i believe IDFC wealth cc should be more rewarding after you reach 10x multiplier by spending 20k which would be 2.5%-1% charges = 1.5%

sbi cb cc won't give you cb on tax payments

How much max. reward points in a single billing cycle is allowed?

 

[CreditcardUser_001]

I think best to do ITR payment is Amex Gold, base reward rate of 2% and using Canara Bank as PG its 1.062% so net reward of 1% approx. In case if you are doing 6 time 1K transactions you will be getting 1K RP extra. So this will be bring overall reward rate higher than 1%..