Income Tax Portal, launched on June 7, 2021, offers many benefits to taxpayers, making their tax liabilities easier. In today’s story, we are going to know that if you pay your tax with the help of credit card after filing ITR, then you can avail cashback from it.
Credit Card Tax Payment: The last date to file Income Tax Return (ITR) for the financial year 2023-24 is July 31. There are many benefits of filing your ITR form on time, even if you are not a taxpayer. The Income Tax Portal, launched on June 07, 2021, offers a number of benefits to taxpayers, making their tax liabilities easier. In today’s story, we are going to know that if you pay your tax with the help of credit card after filing ITR, then you can avail cashback from it.
Why use credit card?
The option to pay tax using credit card on the Income Tax Portal offers a lot of convenience. It allows instant tax payment without the need for bank transfer or cash transactions. Additionally, it saves you from late fees and interest by enabling you to meet your tax obligations even in situations when you have limited cash.
Paying your tax with a credit card gives you instant confirmation of your payment. Older methods like cheques or bank transfers can take time to be assessed, leaving you uncertain whether your payment has been confirmed or not. In contrast, paying with a credit card provides instant confirmation, eliminating any worries.
Rewards are available on these cards
Only a few credit cards in India offer reward points on income tax payments. Currently, only a few select cards, such as HDFC BizBlack and HDFC BizPower Credit Cards, offer reward points for tax payments. These cards offer savings of up to 16% and 8% on income tax and GST payments respectively. Apart from these, you can also use other credit cards that also offer milestone benefits on paying income tax such as SBI Vistara Card/IDFC Vistara Card, where you can get complimentary flight tickets on reaching the milestone.
