Income Tax & GST payments using Business Credit Cards

6 June, 2024

Synopsis

• Business owners can pay taxes using Credit Cards.

• You must use the e-filing facilities to pay taxes via Business Credit Cards.

• You can avail of tax benefits by using a Business Credit Card to pay taxes.
  
  

As a business owner, you can conveniently pay direct and indirect taxes such as income tax and goods and services tax (GST) to the government online. You can pay these taxes on the respective tax filing portals using various payment instruments, including a Business Credit Card. Here, you can get information on income tax and GST payments through Business Cards, the benefits and steps.

Key Benefits of Paying GST & Income Tax With Business Credit Cards

By using a Business Credit Card for tax payments, you can enjoy:

• Interest-Free Period: With HDFC Bank Business Credit Cards, you can access an interest-free period of up to 55 days.

• Greater Savings: With a new range of HDFC Bank Business Credit Cards, you can maximise savings with Reward Points and CashBack.
  
  

• Easy Reward Points/CashPoints Redemption: Redeem your Reward Points or CashPoints earned from tax payments in the following ways:

  • Convert them into statement credit and pay your Credit Card bill.

  • Book flights and hotels via SmartBuy.

  • Redeem them against vouchers and goodies via NetBanking, Mobile Banking or SmartBuy BizDeals.

  • Redeem them against exclusive Business Catalogue via NetBanking.
    
    

Tax Benefits of Income Tax Payments Through Business Credit Cards

Here are the income tax payments through Business Cards benefits you ought to know:

• You can use the online tax filing platform and pay tax with instruments like NetBanking, Debit Card, Credit Card or UPI. By doing so, you can pay tax for saved challan drafts or already generated challan forms.

• The Government of India offers tax benefits under section 44AD of the Income Tax Act, 1961 to businesses promoting online transactions.
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Steps to Make GST Payment 

Follow these steps to pay GST in a hassle-free manner. 

1. Log in to GST Portal: payment.gst.gov.in/payment/.

2. Create GST challan; Services > Payments > Create Challan.

3. Select E-payment option.

4. Within the E-payment section, choose the Credit Card option.  

5. Select the preferred bank.

6. Tick the agreement box to accept the terms and conditions. 

7. Click on the “Make Payment” button.

8. Provide your HDFC Bank Business Credit Card details and complete the transaction. 
   
   

Steps to Make Income Tax Payment 

To pay income tax:

1. Log into the Income Tax portal: eportal.incometax.gov.in/iec/foservices/#/login.

2. Click on E-file and E-Pay Tax. Choose Income Tax and Proceed.

3. Choose the assessment year and select the type of payment as Advance Tax. 

4. Enter tax details and proceed to make the payment. 

5. Choose Payment Gateway and select HDFC Bank from the list.  

6. Select Credit Cards and enter HDFC Bank Business Credit Card details.
   
   

Get HDFC Bank Business Credit Cards Online

With HDFC Bank, you can streamline your business expenses with a wide range of Business Credit Cards. Enjoy up to 55 days of interest-free period, attractive rewards and cashback offers, airport lounge access with select Credit Cards, fuel surcharge waivers and more. Select a Business Credit Card for your distinct need; apply now.

*Disclaimer: Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Credit Card approvals at the sole discretion of HDFC Bank Limited. Credit Card approvals is subject to documentation and verification as per Bank's requirement. Interest rates are subject to change. Please check with your RM or closest bank branch for current interest rates.