Income Tax Day 2023: Submitting income tax can be a clear hassle for many people because of its long process. Easing the process, fintech firm PhonePe, launched its ‘Income Tax Payment’ app feature on Monday.

With this feature, taxpayers, be it individuals or businesses, can easily pay self-assessment and advance tax directly from within the PhonePe app. All this will be possible without the need to log in to the IT portal. Amid people complaining of technical snags on the website, this feature will not only provide an alternative of tax filing but also reduce load on the website.

Income tax feature: PhonePe partners with PayMate
The company has partnered with PayMate, a digital B2B payments and service provider to enable this feature. Under this facility, users can pay their income tax by using credit card or UPI. On credit-card payments, users will get a 45-day-interest-free period and reward points on their tax payments. Reward policy varies for different banks.

After the completion of the payment, taxpayers will receive a Unique Transaction Reference (UTR) number as a proof of tax payment. The UTR will be available within a day, whereas the challan is generated within two working days.

“We are thrilled to announce the launch of our latest feature, the convenience of paying income taxes on the PhonePe app itself. 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,” said Niharika Saigal, Head of Bill Payments and Recharge Business at PhonePe.

How to pay taxes with the help of PhonePe
-Download and install PhonePe app.

-Open the PhonePe app homepage and tap on the ‘Income Tax’ icon.

-Choose the type of tax you want to pay, the assessment year.

-Enter your PAN Card details.

-Enter the total tax amount and pay using the payment mode of your choice.

-After the successful payment, the amount will be credited to the tax portal within two working days.

Source By: livemint

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