Digital funds platform, PhonePe, launched a brand new characteristic for taxpayers within the nation immediately. The corporate immediately launched a brand new characteristic referred to as “Revenue Tax Cost” that can allow customers, each people and companies, to pay the self-assessment and advance taxes instantly from throughout the PhonePe app.
Along with the flexibility to pay the taxes instantly from the PhonePe app, the newly launched characteristic additionally gives another advantages. For example, PhonePe customers who make their tax funds utilizing their bank cards will probably be eligible for a 45-day interest-free interval. Customers may also earn reward factors on their tax funds, relying on their financial institution.
To allow this characteristic, PhonePe has partnered with PayMate, which is a digital B2B funds and repair supplier. This characteristic, taxpayers will be capable to pay for all their taxes with out having to log into the Revenue Tax Division’s internet portal, making your entire course of seamless and simpler to make use of.
“Paying taxes can usually be a fancy and time-consuming activity, and PhonePe is now providing its customers a safe solution to fulfill their tax obligations,” Niharika Saigal, Head of Invoice Funds and Recharge Enterprise at PhonePe mentioned on the event, as reported by CNBC TV18.
It’s value noting that this characteristic will solely allow customers to pay their taxes. They received’t be capable to file their earnings tax return or ITR utilizing this characteristic. For the unversed, the final date for submitting ITR is July 31, 2023.
To summarise, listed here are a few of the key advantages of utilizing the PhonePe earnings tax cost characteristic:
— It’s handy and safe to make use of.
— It gives versatile cost possibility. Customers can both use their debit or bank card or use the UPI cost possibility for paying taxes.
— Customers will probably be eligible for a 45-day interest-free interval. They may also be eligible to earn reward factors on their tax funds.
The best way to pay your earnings tax utilizing PhonePe’s earnings tax cost characteristic
To pay your earnings tax utilizing PhonePe, merely observe these steps:
Step 1: Open the PhonePe app and faucet on the “Extra” tab.
Step 2: Go down the web page and click on “Revenue Tax Cost.”
Step 3: Enter your PAN quantity and the quantity you wish to pay.
Step 4: Choose your cost technique. You may pay utilizing UPI, bank card, or debit card.
Step 5: Assessment your cost particulars and faucet on “Pay.”
As soon as your cost is profitable, you’ll obtain a Distinctive Transaction Reference (UTR) quantity. You need to use this quantity to trace your tax cost standing on the Revenue Tax Division web site.
— Nishtha Srivastava
