Every tax season brings with it a plethora of normally difficult tax calculations. Figuring out how a lot taxes to pay, and what number of deductions you’ll be able to declare could be a chore. But aside from that, it’s also possible to avoid wasting cash by the technique of the way you pay your taxes.
This tax submitting season, we carry to you a easy method of saving round 2-16.6% in your tax due. You can do this by paying your remaining tax due with a credit card.
For lengthy, tax fee has been among the many favorite reward incomes fee classes for many credit card holders. It’s a non-discretionary expense, so that you don’t have to spend additional, as is the case with purchasing, to earn rewards. However, most banks have both utterly eliminated or downgraded rewards on non-discretionary bills, together with tax funds.
HDFC Infinia, essentially the most rewarding credit card within the premium class, stopped providing rewards on authorities spends in December 2022. Credit cards from Axis financial institution, which have been among the many most sought-after cards previously 2-3 years for his or her unmatchable high reward charges, have been devalued of tax funds rewards in September 2023.
Despite a number of the high-rewarding credit cards exempted from providing rewards on tax funds, there are nonetheless some choices left that may get you a candy deal.
Mint has listed down three of the most effective rewarding cards for tax funds—Standard Chartered Ultimate, HDFC BizBlack and Standard Chartered Smart.
Apart from their reward charges, we additionally carry you the small print of their different options, charges, the avenues the place you’ll be able to redeem the earned rewards, and the shortcomings of every of these cards that you just want to bear in mind.
For occasion, the HDFC BizBlack is the very best rewarding credit card at present that gives a reward charge of 16.6% on tax funds underneath sure circumstances.
Take be aware that there are different credit cards that provide rewards on tax funds, however they aren’t as rewarding because the three listed under:
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