Rule Change From April 1: According to the new draft rules of the Income Tax Department, there is going to be a big change for credit card users from April 1, 2026. Now if you make a payment of Rs 10 lakh or more through one or more of your credit cards in a financial year, the banks will directly inform the Income Tax Department.
Credit card rules will change from April 1
Rule change from April 1: There is a big update for credit card users. The Income Tax Department has proposed some new changes in the ‘Draft Income Tax Rules 2026’, which may come into effect from April 1, 2026. With the arrival of these new rules, there may be a lot of changes in the way you use your card. Therefore, it is very important to understand these changes in time to avoid any kind of hindrance or problem.
The tax department will keep a direct eye
According to the new draft rules of the Income Tax Department, there is going to be a big change for credit card users from April 1, 2026. Now if you make a payment of Rs 10 lakh or more through one or more of your credit cards in a financial year, the banks will directly inform the Income Tax Department. In simple words, the tax department will now have a direct eye on those paying huge credit card bills.
Credit card statement will be mandatory
After the change in rules from April 1, 2026, there will be changes in the documents required for making PAN card. While earlier it was mandatory to provide address proof for PAN card, now credit card statement has also been made valid.
Will be able to deposit tax through credit card
Till now you were able to pay your income tax only through net banking or debit card, but under the new rules, now you can get the facility to pay tax online through credit card also. This will give taxpayers another easy option for payment.
PAN card mandatory for credit card
Apart from this, if you apply for a new credit card, it will now be mandatory to provide PAN card. This means that now your credit card will not be issued without PAN card, which may hamper your financial operations.
Read this also-Ticket booking system of Indian Railways will change from March 1, tickets will be booked not through IRCTC but through this app.
Company’s bill payment will be considered your share
If your company gives you a credit card and also pays its bill itself, then according to the new tax rules, it can be considered a part of your income.
Comments are closed.