Nps contribution by credit card

Algebra UnLimited

https://www.desidime.com/discussions/au-lit-cre...

IDFC Wealth, imo

Ramta_Jogi wrote:

IDFC Wealth, imo

Depends on the spends. See the above post for detailed analysis.

guys please add detail in simple language like this:

amazon icici credit card - 1%

flash007 wrote:

guys please add detail in simple language like this:

amazon icici credit card - 1%

How much is your monthly contribution?

Ultimate is the best card, gives 3.3% valueback do via payzapp. 

JAYM wrote:

Ultimate is the best card, gives 3.3% valueback do via payzapp. 

which card is this ?

amdoinggood123 wrote:

which card is this ?

SC Ultimate card

JAYM wrote:

Ultimate is the best card, gives 3.3% valueback do via payzapp. 

how to do nps contribution from SC ultimate card via Payzapp?

baludesi wrote:
How much is your monthly contribution?

yearly 50k at once

Ramta_Jogi wrote:

IDFC Wealth, imo

what is the reward rate? 

flash007 wrote:
yearly 50k at once

Then go for IDFC wealth ... for the first 30K you get 1.5 and later on 2.5

flash007 wrote:
yearly 50k at once

Under OTR, this FY onwards, you wont save anything with NPS till your employer is also contributing. Delay this year's investment and get a clear picture from your CA before diving in NPS again. And NTR is more tax efficient than OTR going forward.

Ramta_Jogi wrote:
Under OTR, this FY onwards, you wont save anything with NPS till your employer is also contributing. Delay this year's investment and get a clear picture from your CA before diving in NPS again. And NTR is more tax efficient than OTR going forward.

Are there any changes in the 80CCD 1B deduction for NPS tier 1? 
I haven't heard anything about that

flash007 wrote:
Are there any changes in the 80CCD 1B deduction for NPS tier 1? 
I haven't heard anything about that

No deduction applicable under NTR. OTR is only better now if your total deduction includes home loan interest/ all deductions are more than 3.75L

Ramta_Jogi wrote:
No deduction applicable under NTR. OTR is only better now if your total deduction includes home loan interest/ all deductions are more than 3.75L

yeah, I believe NPS tier 1 was never allowed in the New tax regime. Isn't that the case?
Anyway, I am interested in the Old tax regime only. (Having 9-10L deductions)

JAYM wrote:

Ultimate is the best card, gives 3.3% valueback do via payzapp. 

"Valueback". Can you please mention best redemption option on Ultimate cc?

Say puttin in 50k in NPS, will give 1650 RP. What will be the value of this 1650 RP?
Statement credit / amazon balance / other worthwhile redemption options?

Points earned via Ultimate CC are 1:1 redeemable for specific value GVs from SC 360 degree rewards portal. The list of vouchers doesn't include Amazon / FK etc. Has Uber/Vistara coupons among others.

There is no other redemption avenue.

flash007 wrote:
yeah, I believe NPS tier 1 was never allowed in the New tax regime. Isn't that the case?
Anyway, I am interested in the Old tax regime only. (Having 9-10L deductions)

Bro 9-10 L deductions? Do you mind sharing them?

I assume HRA and 80c to be large but what are the other avenues

jain01010199 wrote:

Bro 9-10 L deductions? Do you mind sharing them?

I assume HRA and 80c to be large but what are the other avenues

80D, 80CCD(1B), 80G, 10(15)(i), Home loan interest

starbearer wrote:
Points earned via Ultimate CC are 1:1 redeemable for specific value GVs from SC 360 degree rewards portal. The list of vouchers doesn't include Amazon / FK etc. Has Uber/Vistara coupons among others.

There is no other redemption avenue.

Thanks karma given.
Really bad redemption options for such a premium card.

Also after digging in a bit, learned that SC had devalued points earning on this Ultimate on few categies few months back:

Transactions on Utilities, Supermarkets, Insurance, Property Management, Schools & Government payments will now earn 3 reward points on every INR 150 spent.​

Which means Ultimate will give 2% as limited vouchers if used directly for NPS.
@JAYM was this the reason why you asked to use via PayZapp ? I mean loading payzapp wallet gives 3.3 % ? Or any other method?

Seinfeld wrote:
Thanks karma given.
Really bad redemption options for such a premium card.

Also after digging in a bit, learned that SC had devalued points earning on this Ultimate on few categies few months back:

Transactions on Utilities, Supermarkets, Insurance, Property Management, Schools & Government payments will now earn 3 reward points on every INR 150 spent.​

Which means Ultimate will give 2% as limited vouchers if used directly for NPS.
@JAYM was this the reason why you asked to use via PayZapp ? I mean loading payzapp wallet gives 3.3 % ? Or any other method?

Loading Payzapp via Ultimate will give 3.3% points. Balance loaded can be used to pay insurance bills and so on.

Seinfeld wrote:
Thanks karma given.
Really bad redemption options for such a premium card.

Also after digging in a bit, learned that SC had devalued points earning on this Ultimate on few categies few months back:

Transactions on Utilities, Supermarkets, Insurance, Property Management, Schools & Government payments will now earn 3 reward points on every INR 150 spent.​

Which means Ultimate will give 2% as limited vouchers if used directly for NPS.
@JAYM was this the reason why you asked to use via PayZapp ? I mean loading payzapp wallet gives 3.3 % ? Or any other method?

You have got it right. 

I think the best option is to use RBL play credit card every month by Rs 5000 and get Rs 500 worth free movie tickets...

flash007 wrote:

80D, 80CCD(1B), 80G, 10(15)(i), Home loan interest

80D Max limit is 25k-50k 
80CCD-1B is 50k
Home loan interest - 2L
So how come 9-10L in deductions. Just want to learn

jain01010199 wrote:
80D Max limit is 25k-50k 
80CCD-1B is 50k
Home loan interest - 2L
So how come 9-10L in deductions. Just want to learn

some company specific deductions