Income Tax Return: If you have to make tax payment, then apart from bank transfer or cash transaction, you can also make payment through credit card. Let us know its complete process.
ITR Filing: The deadline for filing income tax returns for the financial year 2023-24 and assessment year 2024-25 is approaching. You can file returns till July 31, 2024 without penalty. Taxpayers can easily file income tax returns on the income tax portal without any hassle. If you also have to pay tax while filing ITR, then you can use credit card for this.
There are many benefits of paying tax through credit card
Taxpayers can also pay their taxes through credit cards. The Income Tax Department has started this facility for the convenience of taxpayers. In this, you do not have to face the problems in bank transfer or cash transaction. Through this, you immediately receive a message of payment confirmation. Usually, it takes more time through check or bank transfer. Also, taxpayers can also get the benefit of reward points on the card on tax payment through credit card. If you also want to pay tax through credit card, then we are telling you its step by step process.
This is how you can pay tax through credit card
1. After filing ITR on the income tax portal, first of all you have to generate a challan for tax payment. This document will contain the tax payable amount and the serial number of the challan.
2. Next, you have to choose the option of ‘Pay Tax’. You will see many options for tax payment on the income tax portal. This also includes the credit card payment option.
3. Next, enter the challan details.
4. In this, you have to choose the credit card payment option.
5. Next, you have to enter the credit card related details like card number, expiry date and CVV code.
6. After making payment through credit card, you will receive a confirmation message.
Keep these things in mind while paying tax through credit card
Before making tax payment through credit card, definitely get information about credit card fees. Along with this, the interest charged on credit card is very high. In such a situation, make sure that after paying the tax, you can easily pay that bill. Otherwise, later you may have to pay high interest rate and penalty.
