June 24, 2024

PhonePe, a digital funds platform, has teamed up with PayMate, a number one digital B2B funds and repair supplier, to allow prospects to pay their earnings tax returns utilizing the PhonePe app. This new perform, referred to as “Earnings Tax Fee,” permits taxpayers, each people, and firms, to pay self-assessment and advance tax from throughout the PhonePe app. This eliminates the requirement for customers to log in to the tax website, making the method of paying taxes extra handy.

Niharika Saigal, Head of Invoice Funds and Recharge Enterprise at PhonePe stated that “At PhonePe, we’re dedicated to constantly enhancing our choices to satisfy the evolving wants of our customers. We’re thrilled to announce the launch of our newest function, the comfort of paying earnings taxes on the PhonePe app itself. Paying taxes can typically be a posh and time-consuming job, and PhonePe is now providing its customers a hassle-free and safe approach to fulfill their tax obligations. We consider that this can rework the way in which our customers pay taxes as now we have now made the method each easy and straightforward.”

Additionally Learn: Key Earnings Classes To Report Whereas Submitting Earnings Tax Return for 2023

How To Pay Taxes Utilizing PhonePe

  • Obtain the PhonePe app in your Android or iOS system
  • Go to Monetary Companies & Taxes
  • Select Earnings Tax
  • Put together all obligatory paperwork, akin to PAN and tax info
  • Choose the kind of tax cost, the evaluation yr, and different obligatory info
  • Enter the tax quantity, and the taxes will likely be paid to the division inside two days 

Additionally Learn: Numerous Various Strategies for Submitting Your Earnings Tax Returns in 2023-24

Paying Taxes with a Credit score Card or UPI

PhonePe launched its latest function which permits prospects to easily pay their taxes by bank card or UPI. This perform supplies additional advantages for bank card funds because of the 45-day interest-free interval and the potential for amassing reward factors on tax funds, relying on the consumer’s financial institution.

It ought to be highlighted that taxpayers might solely pay their taxes utilizing this new PhonePe service; they can’t submit them. In line with the article, customers should nonetheless observe the rules with a purpose to file an ITR.

Additionally Learn: Keep away from These Widespread Errors Whereas Submitting Your Earnings Tax Return