PhonePay, one of the prominent Indian digital payment companies, has introduced a new feature called “Phonepay Income Tax Payment.” This feature allows individuals and businesses to pay their income tax dues through the PhonePe platform. With this service, users can now conveniently pay their income tax and also avail themselves of the benefits of tax savings through various credit card or UPI-based transactions. By using a credit card or UPI for making income tax payments, users can earn reward points and enjoy a period of up to 45 days without interest, as per the bank’s policies. This is a convenient way to manage income tax payments and also avail benefits like reward points from banks.
However, it’s important to note that this feature offers the convenience of paying income tax and managing tax savings but does not affect the process of filing income tax returns. Users still need to follow the regular procedure for filing their income tax returns, and the app only facilitates the payment of taxes and managing tax savings. The option to link income tax payments to the user’s profile on the app is available on the home screen of the PhonePe app. This makes it easier for individuals to track their income tax payments and manage their tax savings efficiently.
Please note that for filing income tax returns, users should follow the standard procedure as prescribed by the Income Tax Department. The PhonePe app offers a convenient option to pay income tax dues and manage tax savings, but the actual process of filing returns should be done in accordance with the regular methods.