Bill payment of father's credit card from my savings account

[gobsy]

Hi. I have HDFC savings account with platinum debit card. If I pay bill for my father's axis credit card from my savings account will it attract incurr any tax?

 

[BMR]

In my opinion, if the credit card payment for the entire financial year would exceed 10 lac, only then an entry will be made in your father's AIS stating that x amt was paid to a credit card company.

If the amount is under 10 lac, there should be no harm in you paying your father's cc bill using your savings a/c. There will be no tax.

 

[gobsy]

In my opinion, if the credit card payment for the entire financial year would exceed 10 lac, only then an entry will be made in your father's AIS stating that x amt was paid to a credit card company.

If the amount is under 10 lac, there should be no harm in you paying your father's cc bill using your savings a/c. There will be no tax.

That would be nice. He wouldn't have to open a savings account just for paying bill.

 

[gautamcool]

That would be nice. He wouldn't have to open a savings account just for paying bill.

If you have classic and above accounts, then you can start an 0 MAB add on account with the same variant for your father. The add on account will receive the same benefit incl Platinum debit card