Income Tax Payment with PhonePe: On the occasion of Income Tax Day 2023, digital payment system PhonePe has launched its online income tax payment service. A lot of people find the lengthy process of filing income taxes to be a real burden. Easing the process, fintech firm PhonePe, launched its ‘Income Tax Payment’ app feature.
This feature makes it simple for taxpayers, whether they are individuals or businesses, to pay self-assessment and advance tax from within the PhonePe app. It will be possible to do all of this without logging into the IT portal. This addition will not only offer a different method of submitting taxes while also reducing the burden on the website, which has been the subject of complaints from users due to technical difficulties.
To make this functionality available, the business has teamed with PayMate, a supplier of digital B2B payments and services. Users can use a credit card or UPI to pay their income tax through this facility of Income Tax Payment with Phonepe. Users who pay their taxes with a credit card will receive reward points and a 45-day interest-free period. various banks have various reward policies.
Taxpayers will receive a Unique Transaction Reference (UTR) number as verification of their income tax payment once the payment has been completed. The challan is generated within two working days, whereas the UTR will be ready within a day.
“We are thrilled to announce the launch of our latest feature, the convenience of paying income taxes on the PhonePe app itself. Paying taxes can often be a complex and time-consuming task, and PhonePe is now offering its users a hassle-free and secure way to fulfill their tax obligations,” said Niharika Saigal, Head of Bill Payments and Recharge Business at PhonePe.
How to pay Income Tax Payment with PhonePe?
- Download and install PhonePe app.
- Select the ‘Income Tax’ icon on the PhonePe app homepage.
- Select the assessment year and the tax type you want to pay.
- Enter your PAN Card details.
- Enter the total tax due and select your preferred method of payment.
- Within two working days of a successful payment, the money will be credited to the tax portal.
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