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Credit Card EMIs for 80C ?

Tax queries 257 views 5 replies
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Digital World
115 Points Posted on 10 January 2021

Hi Experts, wishing you all a very Happy New Year. I was wondering credit card EMIs for any product purchase / service purchase eligible for 80C or any other format of tax deductible benefits?

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On 10 January 2021 at 13:04 Report
Replies (5)
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17264 Points Posted on 10 January 2021
List of items eligible are in 80C.
it doesn't matter how you pay that is by Credit card or EMI or regularly by cheque.
101 Reply
On 10 January 2021 at 13:20
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Founder Artha Consulting Services
5186 Points Posted on 10 January 2021
No. not eligible
5 Reply
On 10 January 2021 at 13:38
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Chartered Accountant
24588 Points Posted on 10 January 2021
No it is not eligible for deduction under section 80C
129 Reply
On 10 January 2021 at 15:50
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CA
22 Points Posted on 12 January 2021
It depends on the nature of payment, rather it is paid by cheque, cash or card EMIs.
Example, If you have paid Insurance premium, Tution Fee etc through your Credit Card EMI, then it will be eligible.
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On 12 January 2021 at 09:30
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17264 Points Posted on 12 January 2021
Credi card EMI is just the mode of payment and has nothing to do with 80C. 80C contains list of items eligible.
101 Reply
On 12 January 2021 at 11:10


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