Advance tax using super premium cards

[FinGuru]

Hi,

Those with a tax liability may pay income tax on or before June 15 using their credit card by paying a nominal PG fee of 0.47%.

The tax payment link can be found here https://eportal.incometax.gov.in/iec/foservices/#/e-pay-tax-prelogin/user-details

Select Canara Bank PG

Please note

1. Magnus users can rejoice as one would get regular and milestone reward points on income tax payments.
2. DCB/Infinia users may avoid this as they won't get any reward points. However, the spends will be counted for milestone spends for fee reversal.
3. SCB ultimate users will get reward points.
4. Amex cards can't be used.

 

[Enthusiast]

If you are a salaried person, how it will benefit by paying tax in advance.

Finance team anyway deduct TDS from our salary, right?

 

[Trust Me]

If you are a salaried person, how it will benefit by paying tax in advance.

Finance team anyway deduct TDS from our salary, right?

Salaried persons are not supposed to have income from other sources?!

 

[Trust Me]

The problem with hdfc is if they change charges like canara without updating documents, u won't know.

Yesterday on the ePay Tax payment page it was showing 0.72% for HDFC. Not correct?

 

[Harry1]

Yesterday on the ePay Tax payment page it was showing 0.72% for HDFC. Not correct?

0.72 for hdfc card, 0.8 for others.

But I think hdfc doesn't give points for govt transactions (at least not for DCB), so that's useless.

 

[ismail]

Is it accept AMEX card ?

not possible bro

 

[mr_vasanth]

So Tax payment should accrue points and milestone on Magnus till 1st Sep, right? Which is the best now, Canara or Kotak or HDFC?
Also has anybody used DCB? Does it give points and milestone ?

Can someone reply on this question ? Will we get reward points on tax payment using Magnus until 1st Sep or it is abruptly discontinued ?

 

[mr_vasanth]

Anyone got 10X reward points for tax payment using IDFC wealth CC ?
I have just made 1L self assessment tax payment using IDFC wealth CC. Fingers crossed for the points.
How many days IDFC take for crediting reward points from the transaction date ?

 

[Harry1]

Anyone got 10X reward points for tax payment using IDFC wealth CC ?
I have just made 1L self assessment tax payment using IDFC wealth CC. Fingers crossed for the points.
How many days IDFC take for crediting reward points from the transaction date ?

6x on settlement, remaining 4x on statement generation.

 

[sid16]

Anyone got 10X reward points for tax payment using IDFC wealth CC ?
I have just made 1L self assessment tax payment using IDFC wealth CC. Fingers crossed for the points.
How many days IDFC take for crediting reward points from the transaction date ?

Hi, I have a follow up question on this. If we make a transaction of Rs. 1 lakh, will they split it into Rs. 30000/= for 6X and Rs. 70000/= for 10X? Or should I first do a transaction of Rs. 30000/= and then a separate transaction of Rs. 70000/=? Please let me know about this.

 

[mr_vasanth]

Hi, I have a follow up question on this. If we make a transaction of Rs. 1 lakh, will they split it into Rs. 30000/= for 6X and Rs. 70000/= for 10X? Or should I first do a transaction of Rs. 30000/= and then a separate transaction of Rs. 70000/=? Please let me know about this.

@Harry1 gave this reply to my question. I will update in a day or two after the settlement. I am expecting 6X for 1 lakh on settlement and 4X for 70,000 during statement generation.

>> 6x on settlement, remaining 4x on statement generation.

 

[vabskesh]

Can someone reply on this question ? Will we get reward points on tax payment using Magnus until 1st Sep or it is abruptly discontinued ?

you will get till 31st august , uske baad tata bye bye

 

[mr_vasanth]

@Harry1 gave this reply to my question. I will update in a day or two after the settlement. I am expecting 6X for 1 lakh on settlement and 4X for 70,000 during statement generation.

>> 6x on settlement, remaining 4x on statement generation.

As @Harry1 mentioned 6X rewards are credited today for the tax payment done yesterday with my IDFC wealth. Expecting remaining 4X on statement generation.

 

[mystic]

Does AU Zenith card give rewards for tax payment?

 

[asimkumar]

Axis Atlas would be a good choice I feel if you achieve the milestones.

 

[The_Beast]

I made the payment today via Kotak gateway, and transaction appears with "TIN" followed by numbers instead of "Eportal tax...."
Is their a chance that different payment gateways use different MCC codes? If yes, it would be a jackpot if one or the other payment gateway uses an mcc which isnt mentioned under the prohibited reward list of axis magnus, and we can continue gaining rewards with that gateway.

 

[PiperatGatesofDawn]

I made the payment today via Kotak gateway, and transaction appears with "TIN" followed by numbers instead of "Eportal tax...."
Is their a chance that different payment gateways use different MCC codes? If yes, it would be a jackpot if one or the other payment gateway uses an mcc which isnt mentioned under the prohibited reward list of axis magnus, and we can continue gaining rewards with that gateway.

You should have checked with CS first before posting. Tin 2.0 is Government Services.

 

[The_Beast]

You should have checked with CS first before posting. Tin 2.0 is Government Services.

Sir,there are many MCC codes related to government services,but only a few have been mentioned by axis in its T&C. I just wanted to check that if Kotak used an MCC which is not mentioned explicitly by axis.
And yes, i know TIN is one of the abbreviation of government services.

 

[PiperatGatesofDawn]

Sir,there are many MCC codes related to government services,but only a few have been mentioned by axis in its T&C. I just wanted to check that if Kotak used an MCC which is not mentioned explicitly by axis.

Again - that's why you should call CS and ask them the MCC.

And no... Axis is not that dumb (even though they are incredibly incredibly dumb). Pretty much all government services that are relevant to us in India have been covered.

 

[sleepysurya]

What is the MCC of typical income tax payment?

I made the payment today via Kotak gateway, and transaction appears with "TIN" followed by numbers instead of "Eportal tax...."
Is their a chance that different payment gateways use different MCC codes? If yes, it would be a jackpot if one or the other payment gateway uses an mcc which isnt mentioned under the prohibited reward list of axis magnus, and we can continue gaining rewards with that gateway.

 

[Jhon Anand]

As @Harry1 mentioned 6X rewards are credited today for the tax payment done yesterday with my IDFC wealth. Expecting remaining 4X on statement generation.

So you got remaining 4X ? I'm planning to get IDFC Select, this will be applicable there too albeit with a bit low reward rate of 1/150, right ?