Now You Can Pay Your Income Tax Using A Credit Card!

The last day for taxpayers to file ITR is creeping in. The last day for tax filing accounts that need not be audited is 31 July 2024, in case a taxpayer cannot file ITR by the given date, they will have to do it by 31 December 2024, given that the taxpayers will have to pay penalties. 

The credit card payment option for tax filing was introduced to help taxpayers who do not have sufficient funds in their accounts to make the payment. Those people can make use of this feature and pay it back later.

How To Pay Income Tax Using A Credit Card?

With India moving towards a cashless economy, the government has brought in tax benefits for those taxpayers who file their income tax using their credit cards. This also helps curb the flow of black money as well.

How To File ITR Online

• Register on the e-filing portal of the Income Tax website.

If already registered, then no need to do it again. This e-filing portal was launched in 2021 and received several criticisms as the portal faced multiple issues. 

• Choose one method of payment.

The portal offers various options for tax payment. One of the options is the credit card payment. Click on the credit card option. 

The taxpayer will receive a payment confirmation message, to acknowledge the Income Tax Department has received your payment.

• Double-check all information.

After selecting the credit card payment mode, taxpayers will receive multiple pre-filled information. Double-check all information provided and check TDS as well. 

Fill out Form 16, Form 26AS and Annual Information Statement to file TDS.

• Select bank.

After double-checking all forms and information, the screen will show many bank logos. Click on one of the bank logos. 

If the taxpayer’s bank logo is not shown, then simply click on any bank.

• Fill out the information.

After clicking on the logo of a bank, the taxpayer has to fill out their credit card details. Before confirming the payment, check all details provided once to make sure no errors are made.

• Receipt generation.

After submission of all details and confirmation of payment, a tax payment receipt will be generated. Make sure to keep the receipt and the credit card statement safe so that no problems arise in the future.

Conclusion

Payment of tax filing via credit cards is a very convenient and easy way to make ITR payments. This also reduces the circulation of forfeited notes drastically around the country and is a major step in India changing into a completely digitised nation. 

For any queries regarding online payments of ITR filing, visit Make Payment Online FAQ | Income Tax Department or call 1800 103 0025.