Pay Your Income Tax Effortlessly Using PhonePe App

PhonePe introduces an Income Tax payment feature on its app, enabling easy payment for individuals and businesses.

Paying your income tax can become daunting due to the lengthy procedures involved. However, the fintech firm PhonePe has introduced a solution to ease this burden. They recently launched their innovative ‘Income Tax Payment’ feature, which allows individuals and businesses to pay their self-assessment and advance tax directly from within the PhonePe app. The best part is that there’s no need to log in to the IT portal, saving you from potential technical glitches and reducing the website’s load.

PhonePe has partnered with PayMate, a digital B2B payments and service provider, to make this feature possible. This collaboration allows users to pay their income tax using a credit card or UPI. Users enjoy a 45-day interest-free period when using a credit card and may even earn reward points on their tax payments, though the reward policy varies among banks.

Once the payment is completed, you’ll receive a Unique Transaction Reference (UTR) number as proof of your tax payment. The UTR will be available within a day, while the challan (receipt) will be generated within two working days.

Niharika Saigal, Head of Bill Payments and Recharge Business at PhonePe expressed enthusiasm about the launch of this feature, which provides users with a convenient, secure, and hassle-free way to fulfil their tax obligations.

Here’s a step-by-step guide on how to pay your income taxes with the help of the PhonePe app:

1. Download and install the PhonePe app.
2. Open the app’s homepage and tap the ‘Income Tax’ icon.
3. Select the type of tax you want to pay and the assessment year.
4. Enter your PAN Card details.
5. Input the total tax amount and choose your preferred payment mode.
6. After a successful payment, the amount will be credited to the tax portal within two working days.

With this user-friendly feature on the PhonePe app, paying your income tax has never been easier. Say goodbye to the hassles and delays and enjoy a seamless tax-paying experience.