ITR Filing 2024: Here's How You Pay Income Tax Online With Credit Card
To initiate the payment process, taxpayers must first generate a challan after submitting their ITR.
As the deadline for filing income tax returns looms closer, individuals and entities alike are preparing to meet their tax obligations. For those not mandated to undergo a tax audit as per the Income Tax Act, the deadline for filing taxes is July 31, 2024.
Negotiating the complexities of tax payment and navigation through income tax procedures can often be challenging. One common query that arises is whether tax payments can be conveniently executed online using credit or debit cards. The answer to this query is 'Yes'.
As per a circular made available by the Income Tax Department, taxpayers can conveniently make Income Tax Return (ITR) payments online, including through credit cards.
Using the Income Tax Department's online portal, taxpayers have multiple payment options such as authorised bank debit cards, net banking facilities of authorised banks, and payment gateways (including debit cards, credit cards, net banking of non-authorised banks, or UPI).
How To Pay Income Tax Using Credit Card
To initiate the payment process, taxpayers must first generate a challan after submitting their ITR. This challan details the tax amount and is assigned a unique serial number. Subsequently, users navigate to the tax payment section on the portal and select the 'Pay Tax' option, where they can opt for credit card payment among other methods.
When making a payment via credit card, taxpayers enter the relevant challan details and securely input their credit card information, including card number, expiry date, and CVV code. It is essential to verify all details that you have entered before confirming the transaction.
Upon successful completion, taxpayers receive a confirmation message via email and SMS on their registered e-filing portal credentials. The 'payment history' section on the portal reflects the payment status along with a unique Challan Identification Number (CIN) provided by the bank.
Taxpayers should note that while scheduling payments using net banking facilities is permissible, this option is not available for credit card payments. Furthermore, payments must be made within 15 days from the generation of the challan or by March 31 of the current financial year, whichever comes earlier, to avoid penalties.
