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It is possible to pay rent with a credit card, but it may be more complicated and costly than you think. Not all landlords offer this option, and if they do, it's likely with an added charge to cover their transaction fees. Still, many people find that the benefits ? namely, convenience ? could outweigh these fees.
If the aggregate rent paid or expected to be paid throughout the year goes beyond Rs. 2.4 lakhs for audit cases and 50,000 per month for non audit cases, the payer of rent is required to deduct TDS under Section 194I of the Income Tax Act. The limit of Rs.
How to Pay Rent with Credit Card on Freecharge? Enter Landlord's Details. Provide your landlord's bank account details, IFSC code, mobile number. Make Payment. Enter your credit card details and make rent payment. Payment is Done. Payment gets credited to the landlord's bank account. Live worry-free.
Yes, standing instructions can be set to pay rent with credit card. Will there be an interest levied for paying the rent via a credit card? An interest will be levied only if the credit card bill is not paid on time.
Debt: Similarly, paying rent with credit cards also increases the chance of accumulating debt. If you fail to pay the balance in full, the debt will rise over time. Fees and usage limit: When you make payments with credit cards, it can invite certain additional fees.