Is business credit card fee tax deductible?

Credit Cards
1

I am a business owner and have a business credit card, so wanted to whether the card’s fee is tax deductible or not?

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2

Yes, business credit card’s fees are tax deductible. Businesses can deduct all credit card fees as well as finance charges. Although it is not tax deductible for individual cardholders.

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3

Yes, the annual fee on a business credit card is tax-deductible if you’re using it purely for business purposes. Just make sure your expenses are well documented. For business spends, HDFC Business MoneyBack and Axis My Business work well also.

4

General Saheb, Does the same tax deduction apply to processing charges, service charges, and late payment fees on business credit cards in India??As they are also “fee”..Just Want to make sure I’m not missing out on any legit tax breaks!