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5 Key Changes for Credit Card Users: From Swipe Scrutiny to Tax Implications
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Credit Card Overhaul: 5 Big Changes Proposed for Users, From Spends to Tax Payments
M
Moneycontrol
•
22-02-2026, 14:35
Credit Card Overhaul: 5 Big Changes Proposed for Users, From Spends to Tax Payments
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New draft rules propose enhanced scrutiny for annual credit card digital payments of Rs 10 lakh or more.
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Cash payments of Rs 1 lakh or above towards credit card dues could trigger reporting obligations.
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Credit card statements (past 3 months) may be accepted as address proof for PAN applications.
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Taxpayers might soon be able to settle income tax liabilities using credit cards, offering convenience but potential fees.
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Employer-issued credit card personal expenses could become taxable perquisites; PAN mandatory for new card applications.
Read Full Article on Moneycontrol in English
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