Fintech chief PhonePe has ‘pay income tax’ features on its app so that Phonepe can self-assess and pay taxes in advance within the app, the company’s Monday is a holiday.
Users can now do so through their credit card or UPI.
Users can pay taxes by tapping the ‘Income Tax’ icon on the homepage of the PhonePe app. In addition, they can select the type of tax they will pay, the year of assessment and the details of the PAN card. Users then have to enter the total tax amount and pay using their preferred mode of payment. The money will be deposited on the tax portal within two working days after successful payment.
The company has partnered with PayMate, a B2B payments and services provider, to make this feature available.
“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 meet their tax obligations. We believe this will transform the way our users pay taxes as we have now simplified and simplified the process,” said Niharika Saigal, Head of Bill Payments and Recharge Business at PhonePe.
Users get 45 days of interest-free time and earn reward points through their bank’s conditional credit card payments.
