Income tax payment using credit cards

[wapenshaw]

Hi guys, I have a tax payment to make for my mother around 3Lacs, she will transfer the amount to me but I am wondering If I can use my credit card to pay the amount. I am planning on using my Coral ICICI to pay (have Apay ICICI too). Will there be any ramifications for this since the amount is large??

 

[Dragon_slayer]

Nope, dont think so. You can always provide proof to the bank if something happens

Hi guys, I have a tax payment to make for my mother around 3Lacs, she will transfer the amount to me but I am wondering If I can use my credit card to pay the amount. I am planning on using my Coral ICICI to pay (have Apay ICICI too). Will there be any ramifications for this since the amount is large??

 

[leeflo05]

Hello Folks,
I need to be paying Tax of around 55k wanted to check if any of the cards below will be giving rewards better than .8
My Cards
IndusInd Pinnacle (.7% is what i checked) --> Trying to make my 50 K spend to waive the joining fee ( Convenience Fee Total GST = 521 rs) . If i would be able to make at least 521 rs as rewards or any other way, i will go with this
HDFC Regalia
ICICI Shappiro & ICICI Coral Rupay

Does any of the above cards give reward points that i can make use of (which is higher than .8% which is the lowest offered by Kotak Mahindra Gateway )? would love to hear any suggestions..Thanks

 

[panu24]

Hello Folks,
I need to be paying Tax of around 55k wanted to check if any of the cards below will be giving rewards better than .8
My Cards
IndusInd Pinnacle (.7% is what i checked) --> Trying to make my 50 K spend to waive the joining fee ( Convenience Fee Total GST = 521 rs) . If i would be able to make at least 521 rs as rewards or any other way, i will go with this
HDFC Regalia
ICICI Shappiro & ICICI Coral Rupay

Does any of the above cards give reward points that i can make use of (which is higher than .8% which is the lowest offered by Kotak Mahindra Gateway )? would love to hear any suggestions..Thanks

If you have hdfc platinum DC to Pay pinnacle bill payment then you can recover 505 on 50521 payment. Then you get around 353 reward point which come to 353x.35 is 123 rupees. Ofcourse cash redemption charges of 118 rupees be applied when you redeem pinnacle points.
I don't know about Regalia card but i heard hdfc lower cards don't earn reward points.
Icici cards not sure if they give rewards on tax payments.

 

[leeflo05]

If you have hdfc platinum DC to Pay pinnacle bill payment then you can recover 505 on 50521 payment. Then you get around 353 reward point which come to 353x.35 is 123 rupees. Ofcourse cash redemption charges of 118 rupees be applied when you redeem pinnacle points.
I don't know about Regalia card but i heard hdfc lower cards don't earn reward points.
Icici cards not sure if they give rewards on tax payments.

Thanks i do have HDFC Platinum DC with me, i presume that 1% CB is still available for payment through Direct HDFC Bill pay (using Debit card) for Pinnacle card after July 1st (I have just got the Pinnacle Card not sure if bill payment & cashback works for Indusind CC Payment thru HDFC Bill pay) ?

 

[panu24]

Thanks i do have HDFC Platinum DC with me, i presume that 1% CB is still available for payment through Direct HDFC Bill pay (using Debit card) for Pinnacle card (I have just got the Pinnacle Card not sure if bill payment & cashback works for Indusind CC Payment thru HDFC Bill pay) ?

Wait for 1st bill to get generated then pay on hdfc billpay. You will get cashback.

 

[Hemang]

Bhai finally konsa card use krna hai for tax payments jispe net kuch reward bache hume ?

 

[yolofino]

Hi friends, I have hdfc millennia, icici apay, axis airtel, hdfc tata infinity, bob snapdeal credit card.

Which card still gives rewards for income tax payments and doesn't charge extra?

I also have hdfc platinum dc, equitas elite mastercard dc, idfc wealth dc.

 

[350modena]

Hi friends, I have hdfc millennia, icici apay, axis airtel, hdfc tata infinity, bob snapdeal credit card.

Which card still gives rewards for income tax payments and doesn't charge extra?

I also have hdfc platinum dc, equitas elite mastercard dc, idfc wealth dc.

Per my understanding - all CCs charge Payment Gateway charges (lowest I understand is 0.80% for visa/MC)
DCs I think if same bank PG is used are free to use but i think none give rewards.

 

[yolofino]

Per my understanding - all CCs charge Payment Gateway charges (lowest I understand is 0.80% for visa/MC)
DCs I think if same bank PG is used are free to use but i think none give rewards.

Okay. My thinking is using Axis Airtel card for the tax payment and then using the hdfc platinum dc for 1% rewards. Is it correct?

Also, does spends on govt portal counts toward spends waiver for the airtel card?

 

[Hemang]

Okay. My thinking is using Axis Airtel card for the tax payment and then using the hdfc platinum dc for 1% rewards. Is it correct?

Also, does spends on govt portal counts toward spends waiver for the airtel card?

Mere bhai axis airtel ne to saaf mana kr diya hai reward points ka.
Cashback shall not be eligible for following spends/transactions on the card,o Fuel Spendso EMI transactionso Purchases converted to EMI post factoo Wallet loading transactionso Purchase of Jewelry itemso Cash advanceso Payment of outstanding balanceso Payment of card fees and other card chargeso Rental Paymentso Government serviceso Insurance serviceso Education serviceso Utility Spends that are not done on Airtel Thanks platform (effective from 20th Apr’24)

 

[yolofino]

Mere bhai axis airtel ne to saaf mana kr diya hai reward points ka.
Cashback shall not be eligible for following spends/transactions on the card,o Fuel Spendso EMI transactionso Purchases converted to EMI post factoo Wallet loading transactionso Purchase of Jewelry itemso Cash advanceso Payment of outstanding balanceso Payment of card fees and other card chargeso Rental Paymentso Government serviceso Insurance serviceso Education serviceso Utility Spends that are not done on Airtel Thanks platform (effective from 20th Apr’24)

I understand that none of my credit cards will give me reward points. I am okay with that. 0.8% charge by payment gateway and 1% cashback by hdfc platinum dc for the axis card bill payment, so net I will earn 0.2%.

My question is does spends on govt portal counts toward spends waiver for the airtel card?

 

[Hemang]

I understand that none of my credit cards will give me reward points. I am okay with that. 0.8% charge by payment gateway and 1% cashback by hdfc platinum dc for the axis card bill payment, so net I will earn 0.2%.

My question is does spends on govt portal counts toward spends waiver for the airtel card?

 

[Arkapal Sen]

Per my understanding - all CCs charge Payment Gateway charges (lowest I understand is 0.80% for visa/MC)
DCs I think if same bank PG is used are free to use but i think none give rewards.

hdfc easyshop platinum dc gives cashback for tax payments?

 

[Hemang]

hdfc easyshop platinum dc gives cashback for tax payments?

• Get 1 Cashback point on every Rs. 100 spent on Telecom, Utilities (4900).
• 1 CashBack point on every Rs. 200 spent on Groceries & Supermarket, Restaurant & Apparels, Entertainment
• Maximum cap of Rs. 750 per account per month
  
  We need to know the MCC reported for tax payments, then we can know ki milega ya ni cashback. It should be utility, only then we would get points.

 

[350modena]

hdfc easyshop platinum dc gives cashback for tax payments?

i dont think so but havent tried.

 

[Indrajeet100]

Hi friends, I have hdfc millennia, icici apay, axis airtel, hdfc tata infinity, bob snapdeal credit card.

Which card still gives rewards for income tax payments and doesn't charge extra?

I also have hdfc platinum dc, equitas elite mastercard dc, idfc wealth dc.

IDFC wealth dc is good option. Other way is pay using HDFC millennia and achieve milestone to get 1000 voucher and then pay hdfc cc bill using IDFC wealth dc using SBI unipay.

 

[yolofino]

hdfc easyshop platinum dc gives cashback for tax payments?

No idea but it does give cashback for paying the credit card bills.

 

[mik777]

I have following cards - which one's likely to give best ROI? amount ~ 2.3 Lakhs
IDFC Select CC
IDFC Wealth DC
Magnus Burgundy
Axis Vistara Infinite
Axis Samsung Infinite
DCB

Thanks

 

[sonuyos]

STCG on equity is at 15%. STCG for everything else is at tax slab rate.

Milk. :'( :'(