PhonePe, the digital payments services company, has introduced a convenient Income Tax payment feature on its app. This new feature is designed to enable both individuals and businesses to pay their taxes through the PhonePe app. To make this possible, PhonePe has partnered with PayMate, a digital B2B payments and service provider.
With this feature, users have the option to pay their taxes using either their credit card or UPI (Unified Payments Interface) within the app. Those who choose to pay with their credit cards will also enjoy a 45-day interest-free period and earn reward points on their tax payments, based on their bank's policies. Once the payment is completed, taxpayers will receive a Unique Transaction Reference (UTR) number as an acknowledgment within one working day. Additionally, the tax challan, a document confirming the tax payment, will be made available within two working days.
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The process to pay taxes on the PhonePe app is straightforward:
- Open the PhonePe app's homepage and select the 'Income tax' icon.
- Choose the type of tax you need to pay.
- Enter the assessment year relevant to your tax payment.
- Provide your PAN card details for identification purposes.
- Enter the amount for the tax challan.
- Users can then make the payment using their preferred mode of payment, be it UPI or credit card.
- After the successful payment, the amount will be credited to the tax portal within two working days.
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For those who haven't yet filed their income tax, the last day to do so is July 31. Once the payment is made, taxpayers will be able to access the generated Challan Identification Number (CIN) and other related information through the Challan Receipt. The payment status will also be updated as "PAID" under the "Payment History" tab. It's important to note that the online payment option through the e-Pay Tax service at the e-Filing portal is available 24/7, providing a convenient way to meet tax obligations on time.
