ITR Filing 24: Paying Income Tax Using Your Credit Card
Income tax filing deadline is approaching on 31st July, everyone is rushing to collect all the documents in order to file the return online. There are various ways to file the income tax return of which is a credit card payment.
Users can also get rewards for using credit cards and redeem it later on. Credit card to pay your taxes can make the process convenient and bring you several benefits.
Steps To File Income Tax Return Online Using A Credit Card.
Login the I-T e-filing portal at www.incometax.gov.in.
Register yourself & create an account with your PAN number, contact information & other details.
Log in using your user ID, password, and the one-time password (OTP) sent on your registered mobile number.
After log in, find the ‘e-Pay Taxes’ option and click on it to start the payment process.
On the ‘e-Pay Taxes’ page, enter your PAN and select the appropriate assessment year.
Check all details entered correctly or not again.
Make your card enabled for online transactions and your tax payment amount is within the credit limit offered by your bank or credit card issuer.
Select a credit card as a payment option to pay taxes.
You will see multiple bank logos will appear on your screen.
Select the banks to proceed with the payment.
Enter your credit card details, including the card number, CVC, and expiry date.
Check the fees associated with your credit card for tax payments like convenience fees charged by the payment processor or your card issuer.
Also check the reward points to determine how using your credit card is financially beneficial.
Check the credit card’s terms and conditions before opting for this payment method.
(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)