Confirmed- Amex for Tax payment

[CVR]

Paid income tax using Amex via Canara Bank PG. It is working.

This is the tweet of the person who found the way:


This is great way to complete Amex milestone when most cards (except hdfc bizblack) not giving any points for tax payments.

P.S. Guys i haven’t got any referral benefits yet. If anyone wants to use my Amex referral it is in my signature. Thanks!

 

[CVR]

Has anyone tried Platinum charge card for tax payment? Thanks.

Do it only if there is spend based offer which gives good return. Otherwise no point using platinum charge as there are no milestone benefits. Plat travel, mrcc, gold have milestone benefits.

 

[manas_rock]

I pay 20 lakh adv tax every quarter- which amex cards should I use? I got amex plat travel only. can apply for more.

 

[maverickgenius]

I pay 20 lakh adv tax every quarter- which amex cards should I use? I got amex plat travel only. can apply for more.

Get HDFC Biz Black and make at least Rs 56500 tax payment every month from it for 16% return.

 

[sourpai]

I pay 20 lakh adv tax every quarter- which amex cards should I use? I got amex plat travel only. can apply for more.

Have you considered HDFC Biz black?

 

[manas_rock]

Have you considered HDFC Biz black?

yes, I tried and filled and submitted the form through a very lazy HDFC agent. I got call from HDFC for verification- only once- I could not pick up call- as I was sleeping.
haven't got any call since then.
that agent is only agent I know of.

 

[doctoramar]

Completed 1.8 lacs it payment in canara bank payment gateway using amex platinum travel.transaction charges 1.1% paid 1932 extra for 180000.

 

[quino]

those who paid tax through amex, could you let us know if you are business owners or something? is this a quarterly thing, if so it should've been Oct, right?

 

[sourpai]

those who paid tax through amex, could you let us know if you are business owners or something? is this a quarterly thing, if so it should've been Oct, right?

Even if salaried with a good salary, you have to pay tax for = LTCG + STCG + FD Interest + Savings account interest

Yes this is quarterly thing, but you have to pay per quarter - like 1by 5th June, 15th Sept, 15th Dec and 15th march.... some people are paying now to 1. complete milestone and 2.complete 15th Sept deadline, which falls in current month billing cycle

 

[quino]

Even if salaried with a good salary, you have to pay tax for = LTCG + STCG + FD Interest + Savings account interest

this is generally paid in July, right?

complete 15th Sept deadline, which falls in current month billing cycle

but in Plat. travel monthly cycle doesn't matter, right? asking because most of the ppl here were using plat. travel only.

 

[sourpai]

this is generally paid in July, right?

but in Plat. travel monthly cycle doesn't matter, right? asking because most of the ppl here were using plat. travel only.

Lets take an example... If you estimate your these income sources to be lets say 5L in current financial year, then you will have to pay 15% of it by June'24, 45% by Sept'24, xx% by Dec and 100% by March'25.... next July'25 is too late to pay and you will have to pay penalty

Billing cycle as in monthly billing cycle... If Amex billing cycle is 20th of Sept, then paying now vs on 15th Sept is same

 

[SSV]

this is generally paid in July, right?

but in Plat. travel monthly cycle doesn't matter, right? asking because most of the ppl here were using plat. travel only.

You can pay advance tax at anytime..
Bur the cut off date for various quarters in order to calculate any penal interest or penal charges for the total tax payable are determining as per
June 15, September 15, December 15 and March 15...

But you can actually pay at any time ..
it is for any tax payer , both salaried and self employed..
If you have only salary income rhen your employer automatically deducts tds so you don't need to pay advance tax in this case...

 

[doctoramar]

those who paid tax through amex, could you let us know if you are business owners or something? is this a quarterly thing, if so it should've been Oct, right?

Self employed /doctor
Paid advance tax 20 days early which was to be paid before september 15th.Reason being as 15th september approaches payment with amex is sometimes problematic with payment gateways.
Anyway my billing cycle starts on 14 th september so why not pay early😃

 

[CVR]

Just wanted to check this is still working? Anyone paid tax using Amex recently?

 

[opaque]

Just wanted to check this is still working? Anyone paid tax using Amex recently?

Yes. Did 2 days back. Choose Canara gateway.

 

[navdeep22]

Yes. Did 2 days back. Choose Canara gateway.

btw for fd and saving account interest there is no late payment or interest on on tax right like there is for STCG and LTCG?

 

[sourpai]

btw for fd and saving account interest there is no late payment or interest on on tax right like there is for STCG and LTCG?

There is late payment charge on every tax component

 

[navdeep22]

There is late payment charge on every tax component

I mean to say advance tax. That fd interest and savings account interest need to to be payed in advance before FY ends right?. Like we hav rto pay STCG and LTCG

 

[drmsiva]

Yes. Did 2 days back. Choose Canara gateway.

I assume that there are no reward points for tax payments with Amex? Thanks.

 

[Lobogris]

Just paid myself. Used Canara gateway. Was charged an extra 1.07%.

 

[VGisHere]

No, there are no reward points awarded if tax is paid using Amex.
The merchant reads as "PayU*Central Board of D New Delhi" and shows 0 points against it.

But it does get counted towards milestone benefits.
But remember you do get charged ~ 1.0735% more.

Pay 20k, get charged, ~21.5k, get bonus 1k reward points on MRCC on monthly spends of 20k.