sidzzzzz
TF Select
Only businessmen pay GST directly to government right, I am a businessman
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Utility Bill payment interface with Shopping/retail spends MCC
- Thread starter sidzzzzz
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Rohith-2009
TF Legend
You are not paying the bill of House. Factory electricity bill will be under commercial transaction only. Please understand it
Okay, give me some time and see if I can help you in anyway. As I said before , I am a newbie in this business cards.
ᏰᏋᎥᏁᎶᎥᏁፈᎧᎶ
TF Legend
He will not. instead he will make statement which is not related to your post.
sidzzzzz
TF Select
Income tax is not personal even if paid for an individual, since income arise from commercial activity only so paying taxes is a commercial activity, all those people calling me out for my question too do commercial use of their credit card for payment of income taxes, imo even the owner of this forum does
You can try using -
Business Regalia - Premium Business Credit Card by HDFC Bank
Get HDFC Bank Business Regalia Card to enjoy super premium luxury, travel & lifestyle privileges in your business life such as free access to 700 airport lounges, discounts on premium restaurants & more.
A card specifically meant for business spends can be used for paying electricity bills etc. Other cards which do not contain the prefix/ suffix 'Business' cannot be used.
sidzzzzz
TF Select
Okay I got it that factory bill is commercial, but if in opinion of this community paying that bill is wrong, than paying income taxes should be wrong too right
lo ho gaya.
sidzzzzz
TF Select
Ok thanks I will give it a lookYou can try using -
Business Regalia - Premium Business Credit Card by HDFC Bank
Get HDFC Bank Business Regalia Card to enjoy super premium luxury, travel & lifestyle privileges in your business life such as free access to 700 airport lounges, discounts on premium restaurants & more.www.hdfcbank.com
A card specifically meant for business spends can be used for paying electricity bills etc. Other cards which do not contain the prefix/ suffix 'Business' cannot be used.
You cannot use CCs for paying income tax for an account linked with a company's PAN● But you can use a personal CC for paying tax related to an account linked to an individual's PAN.
Rohith-2009
TF Legend
If
The Income is generated by a salaried employee. How will Paying tax using CC be a commercial transaction?
See, I will add my two cents here..
Income tax is also of two types.
Personal Income tax and corporate Income tax.
But the definition is as per entity...
1)
If an individual paying Income tax ( even though the person carrying a business, which has business Income, like share trading etc, filing ITR 3) it is classified as Personal Income.
2)
If an entity registered under various forms , like sole proprietor, partnership, company etc registered to do some business and if that entity files ITR, it is considered as commercial Income tax..
Under which scenario, you will fall under?
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sidzzzzz
TF Select
And so is the case for my utility payments, the bill gets generated in my name and not in any company's name
No. TDS (majority)!
Rohith-2009
TF Legend
If your credit card company finds that, they will not accept these things. You can try and see
sidzzzzz
TF Select
Firstly, in most cases, for salaried people, TDS is deducted, but in a case where its not deducted, even than it is a commercial transaction, since any act done in order to earn money and and inflow or outflow that happens in the happening of such activity is a commercial transaction
Then go ahead and pay using your card by all means.
It comes in your name as Director of firm or what? It is confusing since you cannot use a personal power connection for commercial activity. And if you have a commercial power connection then, the bill should come in your firm's name. So, what is it ?
sidzzzzz
TF Select
Well for salaried it is but I am talking about the ones that do pay with cc
The connection is commercial but I engage in business in the capacity of proprietor for this particular business of mine, so the it is registered as individual business connection andd not for a company
AFAIK, commercial rates are higher than consumer rates too
Are, salaried people also have other sources of income not limited to their salary like from savibg account intrest, FDs, rent payments, agriculture, investments etc. For that they can use their card to pay taxes. It is allowed as it is not a commercial activity.
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