Anushka Rathod Instagram – Unknown Tax Saving Strategy!
Check out the whole reel to know!
This is Day 1 of Money Secrets of the rich follow along as next reel will be on how rich people get higher returns than normal FD!
Here’s how you can do cost benefit analysis-
1. Check the reward rate
In my card, it is 25 points for ₹150, and 1 point = ₹1
2. Now take your average monthly GST/Income tax payment you are planning to make. Say it is ₹1,00,000 then you are paying ₹1180 as charges on it (1.18%)
3. Compare this with your rewards.
4. Your card might have a max reward points limit so do check that. For me, it is 7500 points on GST. So the maximum I can get is ₹7500.
5. So net-net I am getting ₹5700 benefit – so it makes sense to get it!
6. Lastly, also consider the annual fees once. In my card, it is ₹10,000 but it gets waived off at ₹1.5L spending in 3 months which in my example will easily be waived off!
Note: Terms and conditions apply for every card, lounge access, spending limit, eligible transaction, criteria, reward redemption etc. so decide accordingly.
[Anushka Rathod, finance, tax payments, credit cards, money secrets of the rich]
#anushkarathod #finance #taxpayments #creditcards #moneysecrets | Posted on 19/Sep/2024 19:52:16
