Pay Income Tax Online With PhonePe

As the deadline for income tax returns approaches, it has become more challenging for a non-accountant to deal with income tax returns. To solve this worry, PhonePe, in collaboration with PayMate, launched the ‘Income Tax Payment’ feature on its app on Monday.

The feature allows taxpayers, both individuals and businesses, to pay self-assessment and advance tax directly. 

"Users can choose to pay their taxes using their credit card or UPI. With credit card payments, users also get a 45-day interest-free period and earn reward points on their tax payments, depending on their bank. Once the payment has been made, taxpayers will receive a Unique Transaction Reference (UTR) number as an acknowledgment within one working day. The challan for the tax payment will be available within two working days, said the company.

Niharika Saigal, Head of Bill Payments and Recharge Business at PhonePe said, “We believe that this will transform the way our users pay taxes as we have now made the process both simple and easy.” 

Here’s how users can pay their taxes in just 3 simple steps on the PhonePe app:

* Step 1: Open the PhonePe app homepage and tap on the ‘Income tax’ icon

* Step 2:   Select the Type of Tax you would like to pay, the assessment year, and PAN Card details

* Step 3: Enter the total tax amount and pay using the preferred mode of payment

* Step 4:   Post successful payment, the amount will be credited to the tax portal within 2 working days.