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April 1st Brings 5 Major Credit Card Rule Changes: From Rs 10 Lakh Spend Tracking to Mandatory PAN
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Credit Card Rule Changes From April 1: PAN Must, Rs 10 Lakh Spend Tracking
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News18
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20-03-2026, 12:23
Credit Card Rule Changes From April 1: PAN Must, Rs 10 Lakh Spend Tracking
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New Income Tax Act, 2025, effective April 1, 2026, introduces significant credit card rule changes.
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Banks to report digital payments of Rs 10 lakh or more, and cash payments of Rs 1 lakh or more, made via credit cards to the Income Tax Department.
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Credit card statements (last three months) now accepted as valid address proof for PAN applications.
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Taxpayers can now pay income tax dues using a credit card, though processing fees may apply.
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Personal use of company credit cards will be taxed as a "perquisite"; PAN is mandatory for all new credit card applications.
Read Full Article on News18 in English
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