PhonePe, a leading digital payments company in India, has launched a new feature on its app that provides a user-friendly solution for taxpayers to pay their income tax directly from within the platform. With the deadline for filing and paying income tax for the financial year 2022-23 fast approaching on July 31, the introduction of this feature comes as a timely addition to assist taxpayers in fulfilling their tax responsibilities.
The new feature, aptly named ‘Income Tax Payment,’ allows both individuals and businesses to pay self-assessment and advance tax seamlessly within the PhonePe app. This eliminates the need for users to log in to the tax portal, offering a convenient and efficient way to complete tax payments, as highlighted by PhonePe.
To enable this feature, PhonePe has partnered with PayMate, a digital B2B payments and service provider, to provide a secure and hassle-free experience for taxpayers. Users can conveniently pay their taxes using either their credit cards or UPI. Credit card payments come with added benefits, including a 45-day interest-free period and the opportunity to earn reward points based on the respective banks’ offerings.
It is important to note that while this feature allows users to pay their taxes, it does not support the filing of Income Tax Returns (ITR). Users will still need to follow the given details to file their ITR separately.
Commenting on the launch of the new feature, Niharika Saigal, Head of Bill Payments and Recharge Business at PhonePe, expressed the company’s commitment to enhancing user offerings to meet their evolving needs. She stated, “Paying taxes can often be a complex and time-consuming task, and PhonePe is now offering its users a hassle-free and secure way to fulfill their tax obligations. We believe that this will transform the way our users pay taxes as we have now made the process both simple and easy.”
To pay income tax through the PhonePe app, users can follow these three simple steps:
- Open the PhonePe app on their iPhone or Android smartphone.
- Tap on the ‘Income tax’ icon on the homepage.
- Select and add the type of tax to be paid, the assessment year, and PAN card details.
- Enter the total tax amount and choose the preferred payment mode, either credit card or UPI.
- Upon successful payment, the amount will be credited to the tax portal within two working days.
PhonePe assures that after making the payment, users will receive an acknowledgement in the form of a Unique Transaction Reference (UTR) number within one working day. Additionally, the tax payment challan will be made available within two working days, ensuring a smooth and efficient tax payment experience for users.
With the new Income Tax Payment feature, PhonePe aims to make tax payment hassle-free and convenient, offering users a secure and seamless way to fulfill their tax obligations ahead of the impending deadline.
Sources By Agencies