Online tax payments with Credit Cards - how do they work?

Every citizen is responsible for paying income taxes, but there are times when we may not have the funds to do so. Fortunately, Credit Cards can help! In today's digital age, you can pay your taxes conveniently and without breaking a sweat with just a few clicks. Let's learn more about the world of online tax payments through Credit Cards, and you'll enjoy the process!

Step 1: Check if your bank supports online tax payments
 

Before you gear up to pay your Credit Card bills through a Credit Card, the first step is to check whether your bank supports online tax payment.

If you are an IDFC FIRST Bank customer, you are in luck! When it comes to online tax payments, IDFC FIRST Bank makes the process quick, easy, and uncomplicated. All you need is your Internet banking login and transaction password, and you can pay your taxes online using your IDFC FIRST Bank account. With IDFC FIRST Bank, you can pay your e-tax effortlessly and without any hassle.

Step 2: Register on the Income Tax Department website
 

The next step is to register on the Income Tax Department website (www.incometaxindia.gov.in). If you are new to the website, don't worry! Creating an account is a breeze. Just provide your PAN (Permanent Account Number), name, date of birth, and email address.

Step 3: Go to 'e-Pay Taxes'
 

Once logged into your account, click 'e-Pay Taxes'. This will take you directly to a page where you can pay your income tax online.

Step 4: Enter your PAN Number and select the appropriate assessment year
 

On the 'e-Pay Taxes' page, enter your PAN and choose an assessment year. Please ensure all details are entered accurately, as errors could cause delays and other complications.

Step 5: Choose an appropriate tax payment method
 

Once you have entered your PAN and selected an assessment year, you will be prompted to select an appropriate tax payment option. You can choose Credit Cards here.

Step 6: Enter your Credit Card details
 

Choose a payment method. To pay with IDFC FIRST Bank Credit Cards, select Pay via debit/credit & netbanking option. After selecting the Credit Card option, you will be taken to a page where you must enter all your card information - card number, CVV code, and expiry date should all be entered accurately.

Step 7: Confirm your details and payment information
 

Once you have entered your Credit Card information, you will be asked to review and validate them before finalising payment. Ensure all details are correct before proceeding.

Step 8: Print your challan
 

Once payment has been confirmed, a challan will be generated for you to print. Please save and keep this document for future reference.

Advantages of paying income tax online via a Credit Card

Paying income tax online with a Credit Card has multiple advantages. Some of them include:

1. Convenience
 

Paying income tax online via Credit Card can be convenient as it allows you to do it from the comfort of your home.

2. Easy and quick
 

Paying income tax online using a Credit Card is a quick process, taking only minutes to complete.

3. Secure:

Online tax payments are safe because they're processed through secure gateways.

4. Cashback and rewards
 

Many Credit Cards offer cashback and rewards on tax payments, helping you save money.

5. Extended credit
 

 Paying income tax online through a Credit Card offers the added advantage of extended credit so that your tax liability can be spread out over a longer period.

Paying income tax through a Credit Card online is a convenient and easy way to fulfil your tax obligations. However, before opting for this method, make sure you check with your bank if they support online tax payments. Also, double-check all the details before confirming the payment to avoid errors. By following the steps outlined in this article, you can easily pay your income tax with a Credit Card online. You can also enjoy the benefits that come with it.

Disclaimer

The contents of this article/infographic/picture/video are meant solely for information purposes. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject IDFC FIRST Bank or its affiliates to any licensing or registration requirements. IDFC FIRST Bank shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.