The deadline for submitting income taxes is approaching. You can now complete income tax returns (ITR) from a mobile device as well. The financial technology and digital payment platform PhonePe has provided this service. The PhonePe software will now also allow users to pay income tax. Individual taxpayers and business owners can pay tax and advance tax after self-assessment by UPI or credit card, according to a statement issued by PhonePe on Monday. On the app, a feature pertaining to this has been added.
Will receive these amenities
For the purpose of paying advance tax, taxpayers won’t need to connect to the Income Tax Portal. Within two working days, this sum will be posted to the tax site. Taxpayers can pay their taxes by logging onto the app and selecting the section labeled “Income Tax,” according to the company’s announcement. They must provide information on the tax kind, assessment year, and PAN card for this. A unique transaction number, or UTR, will be provided to the taxpayer within a day of making their tax payment.
Within two working days
You will receive your payment challan. Tax payment has always been a challenging process, according to Niharika Segal, Head of PhonePe’s Bill Payment & Recharge Business. Now, PhonePe offers a simple means for its users to fulfill their tax-related duties. For this feature, PhonePe has teamed with a digital B2B payment service provider.
Minister of Finance said this on ITR filing
On the other hand, according to Finance Minister Nirmala Sitharaman, 7.40 crore people filed income tax returns in the fiscal year 2022–2023, an increase of 6.18 percent, and 5.16 crore of these individuals declared that they owed no taxes. India’s gross direct tax receipts climbed by 20.33 percent to Rs 19.68 lakh crore in the fiscal year 2022–23, the Finance Minister stated in the Lok Sabha.
Read more: Have you provided wrong income information on your ITR? Finance Minister made new announcement
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