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Which card to use for Advance Tax Payment

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  1. Online Spend Points = ₹126,704 / ₹100 * 6, Online Spend Points = 7,602.24 points
  2. Bonus Reward Points for spends above ₹30,000: Bonus Reward Points = (₹126,704 - ₹30,000) / ₹100 * 10
    Bonus Reward Points = 9,670.4 points
Total Reward Points earned = Online Spend Points + Bonus Reward Points Total Reward Points = 7,602.24 + 9,670.4 Total Reward Points ≈ 17,272.64 points

17,272.64 points * ₹0.25 per point Value of 17,272.64 reward points = ₹4,318.16

why did you multiply by 4x instead of 10x? @Pravas
 
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vaibhav111 said:
  1. Online Spend Points = ₹126,704 / ₹100 * 6, Online Spend Points = 7,602.24 points
  2. Bonus Reward Points for spends above ₹30,000: Bonus Reward Points = (₹126,704 - ₹30,000) / ₹100 * 10
    Bonus Reward Points = 9,670.4 points
Total Reward Points earned = Online Spend Points + Bonus Reward Points Total Reward Points = 7,602.24 + 9,670.4 Total Reward Points ≈ 17,272.64 points

17,272.64 points * ₹0.25 per point Value of 17,272.64 reward points = ₹4,318.16

why did you multiply by 4x instead of 10x? @Pravas
Click to expand...
Because 6x was originally considered when the transaction is recorded in the app. At the time of bill generation the rest 4x is added as threshold exceeded 30K.
 
Hello experts,
Does anyone know if paying tax with SBI prime CC gives RP and count towards annual milestone of 3L for fee waiver? I couldn't find it in their MITC.

Thanks in advance!
 
Is the idfc wealth debit card still preferred option over idfc credit card?
In the world of devaluation happening every other day I want to make sure this fact is still relevant.. also if someone could show the relevant calculations..
 
ronnie147 said:
Hello experts,
Does anyone know if paying tax with SBI prime CC gives RP and count towards annual milestone of 3L for fee waiver? I couldn't find it in their MITC.

Thanks in advance!
Click to expand...
JimCarrey said:
Same Query for SBI simplyclick card?
Click to expand...

Both cards will not give you any RPs month on Govt transactions as per their latest T&C. Read this -

Important Notices for SBI Credit Cardholders - Read Now | SBI Card

Find all the important notices with respect to any change in credit card tariff, charges, interest, etc. for SBI Credit Cardholders on our official website.
www.sbicard.com
W.e.f. 01 Jun 2024, accrual of Reward Points on Govt Related transactions will be discontinued for certain credit cards. Please click here for the list of cards.
Click to expand...

I do believe that Govt spends will still count towards annual milestone for fee waiver though I can't find it mentioned anywhere in the T&C.
 
What about Citibank rewards card for tax payment where payment is >=30k? While no points are given for tax payment, there are no exclusions for the 1500 points milestone earned per month on 30k transaction. And if it a paid card, that would also be counted towards target spend of 30k in a year.
Further for those with HDFC platinum, pay this by HDFC esp for 1% cb.
 
Hi all,
I received points today as bank courtesy points 10200 for the total rs. 102000 transaction done by me. I am unable to understand their calculation for idfc wealth debit card. I am attaching statement as per below. Its not showing transactions of 17k+85k which i did in may'24. Total spent in may was Rs. 153138. I suppose i should have received 10x points, can someone help with calculation. Thanks in advance. Screenshot_20240627_202232_Chrome.jpg
 
ashu99924 said:
I have recently done payment for income tax using IDFC wealth debit card.. will update as soon as points received if any.
Click to expand...
What are the charges for debit card for advance tax ? I remember for credit card it's around 1.08% including GST.

Also does sbi debit card fetch 0.25% on this ?


Lastly regarding IDFC first, if I remove 10L/3L for wealth/select account after upgrading once, will they downgrade?
 
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