PhonePe: Today, PhonePe, a digital payment platform, unveiled a new function for the nation’s taxpayers. Today, the company unveiled a brand-new function called “Income Tax Payment” that will let users—both private citizens and companies—pay self-assessment and advance taxes straight through the PhonePe app. The recently added capability provides various further advantages in addition to allowing tax payments to be made directly from the PhonePe app. For instance, PhonePe members will be qualified for a 45-day interest-free period if they pay their taxes using their credit cards. Depending on their bank, users may also get points for paying their taxes.
PhonePe and PayMate Join Forces to Simplify Tax Payments
PhonePe and PayMate, a company that offers digital B2B payments and services, have teamed up to make this capability possible. With this function, taxpayers can pay all of their taxes without having to sign into the web site for the Income Tax Department, streamlining and simplifying the process overall. According to CNBC TV18, Niharika Saigal, Head of Bill Payments and Recharge Business at PhonePe, said at the time that the company is now providing its consumers with a secure option to meet their tax duties. “Paying taxes can often be a complex and time-consuming task,” Saigal said. It’s important to note that this function will only let users pay their taxes. They won’t be able to use this tool to submit their income tax return or ITR. The final day for filing ITR for the unversed is July 31, 2023.
Here are the steps
Simply comply with the instructions below to pay your income tax with PhonePe:
- First, launch the PhonePe application and select the “More” tab.
- Scroll down and select “Income Tax Payment.”
- Enter the amount you wish to pay as well as your PAN number.
- Choose your payment option in step four. Payment options include UPI, credit card, and debit card.
- Go over your payment information and click “Pay.”
You will be sent a Unique Transaction Reference (UTR) number if your payment is successful. On the Income Tax Department website, you can use this number to check the status of your tax payments.
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