mojo_jojo123
TF Ace
I dont think any cc is giving now rewrard in tax payment
-
Hey there! Welcome to TFC! View fewer ads on the website just by signing up on TF Community.
Income tax payment using credit cards
- Thread starter thanix
- Start date
HumorSimpson
TF Prestige
Thank you so much. Do you happen to know the charges on the HDFC gateway?
Last edited:
None of the HDFC personal credit cards give rewards for tax payments. If you can get one of its new business cards, it would be good for tax payments.
Yes. If you have DCB Plastic, if you spend 80k in a month even on taxes, you will get monthly milestone benefits worth 1000. If you have DCB Metal, if you spend 4L in a quarter even on taxes, you get quarterly milestone of 10000 rewards, which is a 2.5% return provided you spend exactly 4L.
HumorSimpson
TF Prestige
Vouchers are 0.5rs so it's 1.25%.
BTW does infinia reward tax payment?
No. It does not.
This still works! Nice.IDFC Wealth CC
mojo_jojo123
TF Ace
are you sure DCB Plastic 80k is counted even on taxes ? Planning to pay tax today so the milestone benefit of 1000 may cover the payment gateway charges ..
Yes I am sure since I have done it many months till last month.
Is idfc still giving 6x on tax payment?
No - Only 3X (per Rs 150) for Wealth - 0.75%
Need to add payment gateway charges as well.
TDS is mandatory for the company to deduct, if you are in the tax bracket. If you have non salary sources such as bank or FD interest, rental income, dividend income, capital gains due to stock market/MFs etc, then advance tax is payable when such non TDS tax > 10000 a year. (TDS deducted includes TDS on salary, on interest/dividend etc as deducted by the payer).
In case you feel you have other than salary taxable income, you can use the IT calculator on IT site and calculate advance tax and then pay accordingly.
Pay via Wealth Debit card, no gateway charges
What's the worry or fear? As long as one is reporting income and paying tax, one can spend as much as one wants on any card. I routinely spend more than 10 lakhs on several cards, sometimes within a month and no one has ever questioned it. Nor am I concerned about it.
Thank you for this detailed information. I'll check with a CA, but I think LTCG and STCG might also fit this category. In that case, I think I might have a decent tax to pay in advance via CC.
shash5252
TF Select
I'm attempting to make a payment on a website(govt website)using debit card(slice card), but a convenience fee is added when I do. However, when I use another card from banks like hdfc, Karnataka Bank there is no convenience fee. The slice card is not an credit card but still convience fee is added. What could be the issue?
LTCG on equity / MFs is taxed at 10% plus cess (surcharge if income > 50 lakhs). STCG is at regular tax slab. So yes if you have these 2 sources than advance tax can be paid.
Any excess tax paid to income tax is refunded at the time of assessment along with interest!
Similar threads
- Suggestion
