[Income Tax Payment] Card which provide benefit on Tax Payment

[dealsense]

Hi,

Can anyone please share credit cards which provide rewards on Income tax payment?

HDFC Infinia, SBI Cashback, AMEX MRCC, Axis Magnus, Yes first Exclusive == I have these cards but none of them provide anything in this category.

Thanks,
anant

 

[aceventura]

Hi,

Can anyone please share credit cards which provide rewards on Income tax payment?

HDFC Infinia, SBI Cashback, AMEX MRCC, Axis Magnus, Yes first Exclusive == I have these cards but none of them provide anything in this category.

Thanks,
anant

The cashback comes from the MDR that the CC company charges the merchant. The merchant in this case is Govt. of India who pay zero MDR.

IF you want Income Tax dept to give you cashback, become a politician.

 

[dealsense]

The cashback comes from the MDR that the CC company charges the merchant. The merchant in this case is Govt. of India who pay zero MDR.

IF you want Income Tax dept to give you cashback, become a politician.

Well, most politicians don't pay any income tax so its not a "cashback" for them
and rewards on advance tax was there earlier with Magnus and even before with Infinia, so yeah those have existed. Perhaps some card still provides some rewards in this category.

 

[aceventura]

Well, most politicians don't pay any income tax so its not a "cashback" for them

It doesnt have to be their income tax

and rewards on advance tax was there earlier with Magnus and even before with Infinia, so yeah those have existed. Perhaps some card still provides some rewards in this category.

perhaps they were, until they realized they were losing money on these transactions. It kind of is the opposite now, we have to pay extra fees for paying via CC, effectively, GoI played Uno reverse card on us.

 

[dealsense]

Yeah, i also guess so.. no other replies so seems like no benefits anymore.

 

[Enthusiast]

Use a card which helps to reach yearly milestone only..

 

[sourpai]

Hi,

Can anyone please share credit cards which provide rewards on Income tax payment?

HDFC Infinia, SBI Cashback, AMEX MRCC, Axis Magnus, Yes first Exclusive == I have these cards but none of them provide anything in this category.

Thanks,
anant

IDFC Wealth and StanC Ultimate gives rewards on Tax payments. IDFC wealth is relatively easy to get and LTF also

 

[dealsense]

IDFC Wealth and StanC Ultimate gives rewards on Tax payments. IDFC wealth is relatively easy to get and LTF also

Thank you @sourpai for letting me know! I will apply for IDFC Wealth card, while the benefits are still there.

IDFC Wealth card seem to provide 10x reward (2.5% reward rate) for online payments >30k. Assuming that will also be the case for income tax payments - this sounds quite good.

 

[zephyr0]

I think IDFC wealth card gives 3X reward rates for government spend. That would mean 0.75% reward rate.

 

[sourpai]

I think IDFC wealth card gives 3X reward rates for government spend. That would mean 0.75% reward rate.

Where do you see this? Can you point me to T&Cs? I can see following on website. There is not exclusion for Govt spends

 

[zephyr0]

@sourpai You're correct. I mixed up rent payments with Govt payments. Mea Culpa.

 

[zephyr0]

Does anyone know which payment gateway to choose? I would like to minimize overhead charges for the IDFC wealth card.

 

[Yeat]

Does anyone know which payment gateway to choose? I would like to minimize overhead charges for the IDFC wealth card.

Paid tax through IDFC cc using HDFC gateway couple of days back.... Got reward points for the same

 

[thegame]

Paid tax through IDFC cc using HDFC gateway couple of days back.... Got reward points for the same

just to confirm, you got 10x rewards (if your spends were above 30k for that month) or 6x (online) or any other %? also HDFC gateway would be 0.8% + GST or something similar right?

 

[knowbie]

Check this for more details

I wanted to make sure the calculation add up. Hope the below explains how it works for IDFC Wealth. the 6X and 4X are visible in the statement.

 

[Yeat]

just to confirm, you got 10x rewards (if your spends were above 30k for that month) or 6x (online) or any other %? also HDFC gateway would be 0.8% + GST or something similar right?

Think the points that are reflecting as of now are as per 6x (made tax payment of 50k). Maybe 4x will be added later on?

Charges were 0.8+GST and reflecting in card

 

[mojo_jojo123]

just getting idfc cc for this purpose may not be smart idea

 

[thegame]

Think the points that are reflecting as of now are as per 6x (made tax payment of 50k). Maybe 4x will be added later on?

Charges were 0.8+GST and reflecting in card

thanks for the confirmation!!

 

[Pgoel06]

Does Diners black pay any rewards on advance tax payment. Since they are not charging any transaction charges if you pay via hdfc payment gateway

 

[tbharech]

Does Diners black pay any rewards on advance tax payment. Since they are not charging any transaction charges if you pay via hdfc payment gateway

No rewards since it is a government transaction and there are transaction charges which get added once the transaction is settled.