Paying income tax using credit card

[credituwu]

is there limit on the tax amount that can be paid using credit card. I tried to pay 45k tax using ICICI credit card Ap . And it got cancelled and withheld . The customer care person told there is 20k limit for transaction on itd. Is it same for all credit card?

 

[mystic]

need to check if govt ransactions are excluded

Any idea on IDFC cards (Select card in specific)

 

[rdargar]

a

ssume 70 lakhs as 30% being in the highest tax slab and take the total income 10-20% above it as education cess and other charges would make his tax rate effectively 40%

Not necessarily , as it is higly possible that he is self employed and a major chunk of this is payment of TDS/TCS hence just felt the urge to ask

 

[Deleted member 11974]

Any idea on IDFC cards (Select card in specific)

not sure

 

[Deleted member 11974]

No necessarily , as it is higly possible that he is self employed and a major chunk of this is payment of TDS/TCS hence just felt the urge to ask

yes this is possible
but you can assume this as well
but self employed probability is much higher

 

[card_wizard]

I used Kiwi to get 2% Cashback (only if waitlisted user, otherwise 1%) for Income Tax Payments.
Tried with SBI Gateway but didn't get any rewards, then tried Kotak Gateway and scanned the QR that they provided, Got 2% cashback and no additional fees 😉

So no payment gateway charge for KIWI plus you get 1% cashback?

 

[Jhon Anand]

So no payment gateway charge for KIWI plus you get 1% cashback?

There's upper limit to cashback for kiwi, ain't it ?

 

[ragz]

Folks as I understand that hdfc cards don't give any rewards for advance tax payment but I have following other cards, can you suggest if anyone if then gives rewards /cashback for paying advance tax?

Axis ace
Axis airtel
Icici amazon pay
Icici coral rupay
Icici platinum
HDFC dcb
Citi Indian oil
HDFC Tata neu
IDFC wealth
Does any of the above card will give rewards for advance tax payment kindly help?

 

[anujdit]

Folks as I understand that hdfc cards don't give any rewards for advance tax payment but I have following other cards, can you suggest if anyone if then gives rewards /cashback for paying advance tax?

Axis ace
Axis airtel
Icici amazon pay
Icici coral rupay
Icici platinum
HDFC dcb
Citi Indian oil
HDFC Tata neu
IDFC wealth
Does any of the above card will give rewards for advance tax payment kindly help?

2 days back, I used IDFC wealth and get 2.5% worth reward points (Tax Payment 4 lakhs) .
In addition HDFC gateway charge 0.95% and payment through HDFC platinum Debit card gives 1% cashback
Net gain 2.5% (10,000/-)

 

[HumorSimpson]

2 days back, I used IDFC wealth and get 1.5% worth reward points (Tax Payment 4 lakhs). Not sure whether I will get 1% (10x) more rewards or not.
In addition HDFC gateway charge 0.95% and payment through HDFC platinum Debit card gives 1% cashback
Net gain 1.5% as of now, and may be 2.5% if 10X is applicable

Yes you will get the 10X too.

 

[sandeepkm]

2 days back, I used IDFC wealth and get 1.5% worth reward points (Tax Payment 4 lakhs) .
In addition HDFC gateway charge 0.95% and payment through HDFC platinum Debit card gives 1% cashback
Net gain 1.5% (6,000/-)

Did you make payment using IDFC Wealth or HDFC platinum debit?

 

[anujdit]

Did you make payment using IDFC Wealth or HDFC platinum debit?

Tax Transaction through IDFC wealth and credit card payment through HDFC platinum debit card

 

[SonyTom]

Tax Transaction through IDFC wealth and credit card payment through HDFC platinum debit card

Please update if you got the balance 4x points once your statement comes. If you get it, then it means 2.5% reward points (for the tax paid over 30k) - 0.95% transaction change. So net 1.5% profit. Plus whatever you can earn by paying the credit card bill with debit card

 

[Sudip]

View attachment 20949
Yes

Edit:
Source: not mine. From a random group in TG.

source : cardmaven.

Link : https://cardmaven.in/best-cashback-credit-cards/

 

[HumorSimpson]

Please update if you got the balance 4x points once your statement comes. If you get it, then it means 2.5% reward points (for the tax paid over 30k) - 0.95% transaction change. So net 1.5% profit. Plus whatever you can earn by paying the credit card bill with debit card

Yes, that's exactly what I gained.