2 new SBI Reliance RuPay Credit Card launched | offers & details

[Abhishek012]

2 new SBI Reliance RuPay Credit Card launched | offers & details:

1) SBI Reliance RuPay Credit Card -​

Issuance Fee - Rs499+GST

Renewal Fee - Rs499+GST (from second year onwards. Renewal fee reversed if annual spend for last year 1 lakh)

Welcome Benefit​

• Get Reliance Retail voucher worth of Rs 500 on payment of annual fees. Click here to know where this voucher can be redeemable.
• Bouquet of Reliance Discount Vouchers for different Reliance Brands worth up to Rs 3200.For details Click here.
• Vouchers shall be delivered within 45 days post realization of Annual Fees

Discount vouchers

Reliance Trends - Rs500 voucher on minimum purchase Rs2499,
AJIO - Rs250 voucher on minimum purchase Rs1499,
Centro - Rs500 voucher on minimum purchase Rs3000,
Zivame/Clovia - Rs300 voucher on minimum purchase Rs1199,
Converstory - Rs250 voucher on minimum purchase Rs1499,
Jiomart - Rs100 voucher on minimum purchase Rs500,
Urban Ladder - Rs500 voucher on minimum purchase Rs4999,
Fashion Factory - Rs500 voucher on minimum purchase Rs1499,
Netmeds Online - Rs200 voucher on minimum purchase Rs1499 on pharma/prescription products.

Transaction discounts/ offers

Reliance Trends - 5% Instant discount (maximum Rs250 per month)
AJIO - 5% Instant discount (maximum Rs250 per month)
Centro - 5% Instant discount (maximum Rs1000)
Zivame/Clovia - 5% Instant discount (maximum Rs250)
Converstory - 5% Instant discount (maximum Rs250)
Grocery offline stores - 1 R One point on every Rs200 spent
Jiomart - 5% cashback on Jiomart Wallet (maximum Rs250 per month), Redeemable in GM & Fashion categories only.
Urban Ladder - 5% Instant discount (maximum Rs250 per transaction)
Fashion Factory - 1 R One point on every Rs100 spent over and above the existing Rs200 spent.

Milestone Benefits​

• Spend Based Fee Reversal- Next year FEE waiver on Annual Spends of Rs 1 Lac.
• 500 worth Reliance Retail Voucher on Annual Spends of Rs 25000 on list of Reliance Formats
• 750 worth Reliance Retail Voucher on Annual Spends of Rs 50000 on list of Reliance Formats
• 1000 worth Reliance Retail Voucher on Annual Spends of Rs 80000 on list of Reliance Formats
• Click here For the list of all Reliance Formats.

Reward Benefits​

• 5 Reward Points per Rs 100 spent on list of Reliance Retail stores (except on UPI payments wherein 1 RP per 100 spent will accrue)
• 5 Reward Points per Rs 100 spent on Dinning & Movies
• 1 Reward Points per Rs 100 spent on other retail purchased (except fuel, property rental, wallet upload)
• Each Reward Point = Rs. 0.25

Fuel Surcharge Waiver​

• 1% surcharge across all petrol pumps in India, for transactions between Rs. 500/- and Rs. 4,000/- exclusive of GST and other charges
• Maximum fuel surcharge waiver of Rs. 100 per statement cycle per credit card account, which is equivalent to an Annual Savings of Rs 1200 .

Other Benefits​

• Redeem your Rewards Points against Reliance Retail Vouchers. Click here to know where this voucher can be redeemable.

2) SBI Reliance Prime RuPay Credit Card -​

Issuance Fee - Rs2999+GST

Renewal Fee - Rs2999+GST

Welcome Benefit​

• Get Reliance Retail voucher worth of Rs 3000 on payment of Joining fees. Click here to know where this voucher can be redeemable.
• Bouquet of Reliance Discount Vouchers for different Reliance Brands worth up to Rs 11,999.
• Vouchers shall be delivered within 45 days post realization of Annual Fees

Discount vouchers

Reliance Trends - Rs100 voucher on minimum purchase Rs3999,
AJIO - Rs750 voucher on minimum purchase Rs3999,
Centro - Rs1000 voucher on minimum purchase Rs6000,
Zivame/Clovia - Rs500 voucher on minimum purchase Rs1999,
Converstory - Rs2500 voucher (subject to maximum redemption at 10% of bill value),
Jiomart - Rs250 voucher on minimum purchase Rs1250,
Urban Ladder - Rs2500 voucher (subject to maximum redemption at 10% of bill value),
Netmeds Online - Rs500 voucher on minimum purchase Rs1999 on pharma/prescription products.
Fashion factory - Any denim Rs999 only with the promo code
Reliance Jewels -
Rs2000 voucher (subject to minimum purchase of Rs49999 Diamond Jewellery),
Transaction discount applicable along with voucher

Transaction discounts/ offers

Reliance Trends - 10% Instant discount (maximum Rs750 per month)
AJIO - 5% Instant discount (maximum Rs1000 per month)
Centro - 10% Instant discount (maximum Rs2000)
Zivame/Clovia - 5% Instant discount (maximum Rs1000)
Converstory - 10% Instant discount (maximum Rs1000)
Grocery offline stores - 1 R One point on every Rs200 spent
Jiomart - 5% cashback on Jiomart Wallet (maximum Rs1000 per month), Redeemable in GM & Fashion categories only.
Urban Ladder - 5% Instant discount (maximum Rs750 per transaction)
Fashion Factory - 1 R One point on every Rs100 spent over and above the existing Rs200 spent.
Reliance Jewels -
2% Instant discount on making charges on Gold,
2% Instant discount on diamond invoice value.

Milestone Benefits​

• Spend Based Fee Reversal- Next year FEE waiver on Annual Spends of
• 1500 worth Reliance Retail Voucher on Annual Spends of Rs 75000 on list of Reliance Formats
• 2250 worth Reliance Retail Voucher on Annual Spends of Rs 150000 on list of Reliance Formats
• 5000 worth Reliance Retail Voucher on Annual Spends of Rs 300000 on list of Reliance Formats
• Click here For the list of all Reliance Formats.

Reward Benefits​

• 10 Reward Points per Rs 100 spent on list of Reliance Retail stores (except on UPI payments wherein 2 RP per 100 spent will accrue)
• 5 Reward Points per Rs 100 spent on Dinning, Movies, Entertainment, Airlines and International spends
• 2 Reward Points per Rs 100 spent on other retail purchased (except fuel, property rental, wallet upload)
• Each Reward Point = Rs. 0.25

Book My Show​

• 1 Movie ticket a month worth Rs. 250/-

Lounge Benefits​

• 8 complimentary Domestic Airport Lounges per calendar year (max. 2 per quarter), Click here for list of lounges.
• 4 complimentary International Airport Lounges per calendar year (max. 2 per quarter available from 15th Dec’23 onwards)

Fuel Surcharge Waiver​

• 1% surcharge across all petrol pumps in India, for transactions between Rs. 500/- and Rs. 4,000/- exclusive of GST and other charges

Other Benefits​

• Redeem your Rewards Points against Reliance Retail Vouchers. Click here to know where this voucher can be redeemable.

 

[drsel]

Most people will not get more than 50000 cashback so there is no problem at all

 

[bhavik886151]

https://www.moneycontrol.com/news/business/now-pay-income-tax-on-cumulative-cashbacks-above-rs-50000-4140481.html

Gift Vouchers and Cashback Rewards From Digital Transactions Can Attract Income Tax

The cashback rewards we receive from the e-wallets and digital transactions are taxable after a specific limit as per the Income Tax Act.

news.cleartax.in

• If the taxpayer buys goods or services for personal use and the aggregate cashbacks are below INR 50,000 but the taxpayer has received other gifts during the financial year and the aggregate gifts received with the cashbacks exceed INR 50,000, cashbacks would be taxable.

Example –The taxpayer bought two goods on which he received a cashback of INR 5000 and INR 10,000. The taxpayer also received cash gifts from non-relatives totalling INR 40,000. In this case, though the total cashback received is lower than INR 50,000 but the aggregate value of gifts received and cashbacks is INR 55,000 and so the cashbacks would be taxable.

ok
so these mentioned only cashback and gift card there is nothing about the reward points
also each company reward points value is different so there is no way to calculate how much value of those points

 

[drsel]

I read that people prefer reward points and airmiles because they are tax free all over the world

 

[bhavik886151]

I read that people prefer reward points and airmiles because they are tax free all over the world

yes that's why all Credit Card influencers always talk about reward points and miles because the amount of miles and reward points they shows they get and spend for flight and hotel stay is possible because they are tax free

 

[bhavik886151]

Most people will not get more than 50000 cashback so there is no problem at all

i used Axis flipkart for my business spend and every month get around 15-20k cashback

 

[bhavik886151]

I never heard of anyone paying income tax on 5% cashback received from credit cards

Ask your CA if your income is more then the nil Income tax limit then everything else count as a Income

 

[bhavik886151]

Rewards points are also considered Gift received and its details should be furnished in Return.

and how the value of these reward point calculated as each bank and also in the same bank all card reward point structure is different

 

[drsel]

and how the value of these reward point calculated as each bank and also in the same bank all card reward point structure is different

I have read that points and miles are not taxable in the whole world

 

[habibmy]

and how the value of these reward point calculated as each bank and also in the same bank all card reward point structure is different

How much value you get from it will be considered.

 

[habibmy]

Most people will not get more than 50000 cashback so there is no problem at all

Cashback and gift both are considered for 50k limit.

 

[bhavik886151]

How much value you get from it will be considered.

I ask my ca and they said only the detail which shows in AIS on income tax portal or in your bank or card statement consider for the income

 

[habibmy]

I ask my ca and they said only the detail which shows in AIS on income tax portal or in your bank or card statement consider for the income

Most of the business in India don't have GST registration, their transaction does not get reflected in AIS, this don't mean their business income will not be considered for calculating income.

 

[bhavik886151]

Most of the business in India don't have GST registration, their transaction does not get reflected in AIS, this don't mean their business income will not be considered for calculating income.

yes but there must be some trail for the transaction like bank entry which used to calculate their business income

 

[Gautam312]

i dont want cash back card as it is directly count as Income and already in 33% tax slab so reward points are get for me

33% tax rate on Rewards. Your Income Has No Effect on These Rewards. not at all.

 

[bhavik886151]

33% tax rate on Rewards. Your Income Has No Effect on These Rewards. not at all.

i know thats why looking for reward points card instead of cash back card

 

[newinnov]

SmartBazar / Fresh is not included in offer! Hence grocery purchase won't fetch you any return!

 

[bhavik886151]

SmartBazar / Fresh is not included in offer! Hence grocery purchase won't fetch you any return!

i want to use it as ajio mostly

 

[drsel]

33% tax rate on Rewards. Your Income Has No Effect on These Rewards. not at all.

You mean the rewards have no effect on your income, absolutely correct!