BharatNXT: Best App for Rent Payment with Credit Card!! (@1.59% charges)

[Lord Of Darkness]

In my suggestion don't do full one lakh via bharatnxt. Your card may get flagged. Do it like max 50k and use some orginal spending.

A good mix might be 50k of any credit card payment and other 50k genuine payments.

 

[rdargar]

If
I transfer 1L using Axis Magnus, and they transfer it back to me using UPI, what are the Tax implications on both parties? Any CAs in this chat?
I just want to do it to meet the milestone rewards threshold. I know card ban is a potential downside, but just want to do it once this month.

No tax implication , if you are using online medium and the transfer is of exactly the same amount (No commision etc)

 

[kiran.62502]

Agree the fact but I did a different loot yesterday
I had around 580/- for referral so used magnus 50k to pay Tata neu card
Created a beneficiary with neu card number and successfully credited today to hdfc lol

How did you add a credit card number for payment...as of i know it allows only bank account details to add......

 

[Wealth is my birth right!]

How did you add a credit card number for payment...as of i know it allows only bank account details to add......

Their system has an option u have to key in acc no and ifsc they will validate name with 1rupee so they did that and got name as credit card and I made 3 times paid to that card and got success credits in card account

 

[WhoU]

But when you are transferring money via BharatNXT to your own account, it means you are receiving business payments on your credit card. Whenever there is an IT scrutiny, this will definitely be one of the things they check. I would suggest perform only genuine transactions using BharatNXT.

 

[Wealth is my birth right!]

But when you are transferring money via BharatNXT to your own account, it means you are receiving business payments on your credit card. Whenever there is an IT scrutiny, this will definitely be one of the things they check. I would suggest perform only genuine transactions using BharatNXT.

Yes I did some calculations as per my ITR and I used only for March month
No plans to do more

 

[SiddharthR]

Dear TF community members,

I wanted to take a moment to express my gratitude to all of you who used my referral code while signing up for the BharatNXT app. Your support and trust mean a lot to me, and I appreciate your willingness to give the app a chance based on my recommendation.
Thanks to your participation, I have been able to enjoy some great benefits from the referral program, and I hope you have too.

It's been a pleasure to be a part of this community, and I'm grateful to have you all in my life. Please know that I will continue to be available to support you in any way that I can, and I hope to see you all soon.

Thank you again for your support, and I look forward to staying in touch!

Best regards,
@SiddharthR
(Credit: ChatGPT) It's like a asterisk which u don't notice sometimes, but imp to say.

 

[satish0987]

Dear TF community members,

I wanted to take a moment to express my gratitude to all of you who used my referral code while signing up for the BharatNXT app. Your support and trust mean a lot to me, and I appreciate your willingness to give the app a chance based on my recommendation.
Thanks to your participation, I have been able to enjoy some great benefits from the referral program, and I hope you have too.

It's been a pleasure to be a part of this community, and I'm grateful to have you all in my life. Please know that I will continue to be available to support you in any way that I can, and I hope to see you all soon.

Thank you again for your support, and I look forward to staying in touch!

Best regards,
@SiddharthR
(Credit: ChatGPT) It's like a asterisk which u don't notice sometimes, but imp to say.

Bro wt happened to BharatNxt app...I can't see credit card to bank transfer option...i see new options now...can you clarify ..i m normal user..no shop nothing

 

[SiddharthR]

Bro wt happened to BharatNxt app...I can't see credit card to bank transfer option...i see new options now...can you clarify ..i m normal user..no shop nothing

I think u can still use that below Rs 20L in a financial year in Vendor category as above that u (to the person u're paying) will need to get GSTIN. I transferred my business payments from UPI to Credit Cards. Anyone wise can share his thoughts for the above query.
@CA Karan Agarwal

 

[CA Karan Agarwal]

I think u can still use that below Rs 20L in a financial year in Vendor category as above that u (to the person u're paying) will need to get GSTIN. I transferred my business payments from UPI to Credit Cards. Anyone wise can share his thoughts for the above query.
@CA Karan Agarwal

If you pay more than 20Lacs (40 lacs in case of goods) to single merchant's account then other person will become liable to obtain GST registration. Not only this income tax complications will also add up for the receiver.

 

[SiddharthR]

If you pay more than 20Lacs (40 lacs in case of goods) to single merchant's account then other person will become liable to obtain GST registration. Not only this income tax complications will also add up for the receiver.

What about the payer? Won't he also need GSTIN if he pays more than 20L/40L to any number of merchant? (As payer is also doing sale of 20L/40L)

 

[CA Karan Agarwal]

What about the payer? Won't he also need GSTIN if he pays more than 20L/40L to any number of merchant? (As payer is also doing sale of 20L/40L)

Gst registration is dependent on outward supply/sales of 20/40 lacs.
Technically a person paying more than 20/40 lacs will also have sales turnover more than threshold limit hence will become liable to pay gst.

All this depends on whether its a genuine sale purchase transaction or is it a merely money rotation and department's stand on it.

Normal loan transactions are outside the scope of gst

 

[SiddharthR]

New card in the market for BharatNXT users: (Maybe the best one as of now)

IDFC First Power Credit Card: 2.5% reward points upto ₹4K/month on Utilities (₹1.6L/month)

IDFC First Power Plus Credit Card: 5% reward points upto ₹2K/month on Utilities (₹40K/month)

Fuel Credit Card - Apply for HPCL Credit Card to save on Fuel Expenses | IDFC FIRST Bank

Apply for FIRST Power & Power Plus fuel credit cards at IDFC FIRST Bank. Save up to ₹7K & ₹18.5K annually with these HPCL cards. Enjoy savings on fuel expenses and much more.

www.idfcfirstbank.com

Apply from Zingoy/CashKaro to get ₹1040/₹250 respectively. (Don't know if u'll get it or not, as it's a new card)

 

[Wealth is my birth right!]

New card in the market for BharatNXT users: (Maybe the best one as of now)

IDFC First Power Credit Card: 2.5% reward points upto ₹4K on Utilities

IDFC First Power Plus Credit Card: 5% reward points upto ₹2K on Utilities

Can wealth be converted to power variant?
4k is a great deal

 

[SiddharthR]

Can wealth be converted to power variant?
4k is a great deal

This will be, most probably, my first IDFC bank CC. Hence, no idea

 

[Lord Of Darkness]

Can wealth be converted to power variant?
4k is a great deal

But do you think that realistically we can use it for 1.6Lakhs of utilities to get 4K cash back?
That's quite a big amount.

 

[Wealth is my birth right!]

But do you think that realistically we can use it for 1.6Lakhs of utilities to get 4K cash back?
That's quite a big amount.

Not all months then our card gets blocked
Twice in a year like March and September

 

[SiddharthR]

Not all months then our card gets blocked
Twice in a year like March and September

Then u can consider taking Plus variant

 

[SiddharthR]

1. For Retail/Personal Credit Cards:-

• Classic Pay (T+1 day settlement)- 1.59% {Till 3rd March: 1.30%; Till 28th March: 1.53%}

Update:
Classic Pay Charges Increased from 1.53% to 1.59% (inc. GST)

5. Refferal Benefits:
With my referral code {AMMKCR8}, you will get cashback (in form of BharatNXT Cash) of 150 BNXT Cash on 1st transaction.
Terms & Conditions:You will receive a scratch card of 150 BNXT Cash when you do the first transaction greater than ₹5000. 150 BNXT Cash will be in the Rewards section in the form of Scratch Card. Scratch that & 150 BNXT Cash will be added in your wallet.

---

(Over on 31st Mar'23)
5.1. Steps for ₹16K Bank Transfer for Absolutely FREE!! (For New User):

1. Install BharatNXT from above refferal link.
2. Complete SignUp process & KYC {Completely online process with Digilocker}.
3. You will instantly get 100 BNXT Cash in Scratch card.
4. Do transaction of ₹6,500 by using 100 BNXT Cash with Personal Credit Card & Classic Pay.
5. You will get 150 BNXT Cash on the next day after transaction settles.
6. Now, on next day, do transaction of ₹9,800 by using 150 BNXT Cash with Personal Credit Card & Classic Pay.

**By this way you will get ₹16,300 in your bank account from your Credit Card for FREE!!

Party Over for New Users as Refferal Benefits changed.
Now no use of BharatNXT for most of the new TF Community Members 🤣

 

[satish0987]

Update:
Classic Pay Charges Increased from 1.53% to 1.59% (inc. GST)


Party Over for New Users as Refferal Benefits changed.
Now no use of BharatNXT for most of the new TF Community Members 🤣

Wt exactly changed bro?
I have 270+ Bharat cash
From TDY BharatNxt cash can be used
I will empty my Bharat cash and uninstall app 😅