PhonePe is one of the biggest payment apps in India with support for UPI, recharges, bill payments, insurance, and more. The company has now announced a new feature aimed at the country’s taxpaying citizens. It has added native support for income tax payments with the goal of providing a seamless and efficient payment experience. Here is what you need to know.
PhonePe Income Tax Payment Feature
PhonePe has introduced a new income tax payment feature within its app on Android and iOS. It gives taxpayers one more method using which they can pay income tax in a timely manner and with improved user experience.
The app’s new feature is powered by PayMate, a leading digital B2B payments and service provider, and is available for both individuals and businesses. It can be used to pay self-assessment and advance tax with just a few taps. There is support for UPI and credit cards for income tax payments. PhonePe says credit card users will get a 45-day interest-free period and earn reward points on payments depending on their bank.
Niharika Saigal, Head of Bill Payments and Recharge Business at PhonePe said, “At PhonePe, we are committed to continuously enhancing our offerings to meet the evolving needs of our users. 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. We believe that this will transform the way our users pay taxes as we have now made the process both simple and easy.”
How to Pay Income Tax Using PhonePe?
- Launch the PhonePe app and look for the Income Tax option under Recharge & Pay Bills section.
- Choose your tax payment type, Self-assessment or Advance Tax, and assessment year.
- Enter your 10-digit PAN card number for verification.
- Enter your tax amount and proceed to the payment page.
- Choose your preferred mode of payment: UPI or credit card.
- Wait for the payment successful message on the app.
PhonePe says users will receive a Unique Transaction Reference (UTR) number within one day of the successful tax payment. It will take up to two working days for the tax payment challan number to arrive.
It is important to note that the new PhonePe feature is only meant for income tax payments. You cannot file income tax returns (ITR) through PhonePe which you can do through the Income Tax Department website. The last date for filing your ITR for the financial year 2022-2023 is July 31, 2023.
