India’s largest digital payment app PhonePe has launched Income Tax Payment Service on its app on 24 July i.e. Monday. This facility enables taxpayers, both individuals and businesses, to make self-assessment and advance tax payments through the PhonePe app. After this you will not have to login to the tax portal.
PhonePe partnered with Paytm
PhonePe has partnered with digital B2B payments and service provider PayMate to enable this feature. Taxpayers can choose to pay their taxes using their credit card or UPI. With credit card payments, users also get an interest-free period of 45 days and earn reward points on their tax payments, depending on their bank. Once the payment is made, taxpayers will receive a Unique Transaction Reference (UTR) number as an acknowledgment within one working day. The invoice for tax payment will be available within two working days, PhonePe said in a statement.
Till when can file ITR
The last date for filing ITR for the assessment year 2023-24 has been fixed as 31 July 2023. The Income Tax Department has now also made it clear that it will not be extended further. According to the information available on the website of the Income Tax Department, a total of 4 crore ITRs have been filed so far for the assessment year 2023-24. Out of these, 3.62 crore ITRs have also been verified and 2.13 crore verified ITRs have also been processed.
what did phonepe say
Niharika Sehgal, Head – Bill Payments & Recharge Business, PhonePe said, “At PhonePe, we are committed to continuously enhance our offerings to meet the evolving needs of our users . We are thrilled to announce the launch of our new feature, the facility to pay Income Tax on the PhonePe app itself.
This is how ITR can be filed through PhonePe
First, tap on the Income Tax icon on the home page of PhonePe. Then enter the type of tax you want to pay, assessment year and PAN card details. Then choose the mode of payment by entering the total amount. If the payment is successful, the amount will be deposited on the Bhirat portal in two working days.
