ITR Filing: You can also pay income tax using credit card, know the complete process and benefits..
The deadline for filing income tax returns for the financial year 2023-24 and assessment year 2024-25 is approaching. You can file returns till July 31, 2024 without penalty. Taxpayers can easily file income tax returns on the income tax portal without any hassle. If you also have to pay taxes while filing ITR, then you can use a credit card for this.
There are many benefits of tax payment through credit cards.
Taxpayers can also pay their taxes through credit cards (Income Tax Through Credit Card). The Income Tax Department has started this facility for the convenience of taxpayers. In this, you do not have to face problems in bank transfers or cash transactions. Through this, you get the message of payment confirmation immediately. It usually takes more time through checks or bank transfers. Also, taxpayers can get the benefit of reward points on the card on tax payments through credit cards. If you also want to pay tax through a credit card, then we are telling you its step by step process.
This is how you can deposit tax through a Credit Card
1. After filing ITR on the Income Tax Portal, first of all, you have to generate a challan for tax payment. The tax payable amount and the serial number of the challan will be recorded in this document.
2. Next, the option of 'Pay Tax' has to be selected. On the Income Tax Portal, you will see many options for tax payment. This also includes a credit card payment option.
3. Next, enter the challan details.
4. In this, the payment option of a Credit Card has to be selected.
5. Next, the details related to the credit card like card number, expiry date, and CVV code have to be entered.
6. Next, after making a payment through a credit card, you will receive a confirmation message.
Keep these things in mind while paying taxes through credit card
Before making a tax payment through a credit card, get information about credit card fees. Along with this, the interest charged on credit cards is very high. In such a situation, make sure that after paying the tax, you can easily pay that bill. Otherwise, later you may have to pay a high interest rate and penalty.
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