Ahead of ITR filing July 31 deadline, fintech firm PhonePe launches feature to pay income tax dues

The feature is likely to come in handy for taxpayers given that the last date to file Income Tax Return for FY 2022-23 is July 31,2023. PhonePe has joined hands with B2B payments and service provider PayMate to enable the Income Tax Payment feature

With the ITR filing deadline of July 31, the feature is likely to come in handy for taxpayers.

Digital payments platform PhonePe has rolled out a new feature that allows users to pay income tax conveniently using its mobile application. Now any individual taxpayer or business can pay self-assessment and advance tax through the app without visiting the Income Tax Department’s official website.

The feature is likely to come in handy for taxpayers given that the last date to file Income Tax Return for FY 2022-23 is July 31,2023.

PhonePe has joined hands with B2B payments and service provider PayMate to enable the Income Tax Payment feature, the fintech platform said in a release on Monday.

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Steps to pay income tax on PhonePe

Step – 1: Open the PhonePe application on your mobile and click on ‘Income Tax’ on the homepage.

Step – 2: Select the type of tax payment and assessment year and enter your PAN card details.

Step – 3: Proceed to enter the payable tax amount and click on ‘Pay tax’.

Step – 4: Choose the mode of payment and pay. It can take up to two working days for the amount to be credited to the tax portal.

Payment method

Users can choose to pay taxes on PhonePe using credit card or UPI. Once the tax is successfully paid on PhonePe, the taxpayers will receive a Unique Transaction Reference (UTR) within one working day. The challan for the tax payment will be provided within two working days.

Announcing the launch of the new feature, Niharika Saigal, Head of Bill Payments and Recharge Business at PhonePe said, “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”.

She added, “We believe that this will transform the way our users pay taxes as we have now made the process both simple and easy.”

It must be noted that the new feature only allows you to pay income tax. To file income tax returns, taxpayers still have to use the e-filing portal of the Income Tax Department.

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