By Sweata Saha
On Monday, 14th August 15, 2023 PhonePe launched a feature which allows the users to pay their income tax through the app itself. Now, users , be it an individual user or a business, can now pay their own income tax through this app. The amount can be paid by the user through their UPI or credit card. The users will have to pay through an application and this can be done without logging into the income tax portal.
What is the process of tax paying through PhonePe?
The whole process is estimated to be complete in two to three working days. The users can easily log into their PhonePe account and initiate the process. The users will need to go to the income tax option. The type of tax which needs to be paid is to be selected in the next phase. After selecting the type and entering the amount needed to be paid, it will ask for the payment method. The users can select the mode of payment leading to the completion of the process of payment.
The taxpayers, after completing the whole payment process, will receive a UTR (Unique Transaction Reference) number. This will have a number as an acknowledgement. This receipt will be delivered to the payer within a working day. The challan for the tax payment will be received by the user within two working days.
What was the aim of PhonePe for activating this feature?
The head of bill payments and recharge business at PhonePe, Niharika Saigal stated that since tax paying is often a complex and really time-consuming work. Thus, PhonePe, through this feature is trying to make this complex process much easier and more flexible. The taxpayers can now without any hassle.
PhonePe is growing, with almost 45% of transactions under its name on BBPS (Bharat Bill Pay System) with more than 50 crore registered users. PhonePe has now joined hands with digital B2B payments service provider PayMate, which has resulted in this very feature. This new feature of tax paying will help you complete your process just by sitting at your home within two days.
Ridhi Jain