How does one Pay Tax Online Using iMobile Pay?

Beginning of every financial year, any individual whose income is taxable is required to pay a direct tax. Earlier, the process of paying direct tax involved a lengthy and complicated paperwork process; however, the same process has now become easy and can be completed online.

ICICI Bank with its technology-driven banking gives you an easier option to pay direct tax online using the iMobile Pay app.

Every person is required to pay direct tax levied by the government on any taxable income as per the Income Tax Act, 1961, if it exceeds the basic exception limit. The income tax is applicable on salaried individuals, firms, companies, Hindu Undivided Family, local authorities and limited liability partnerships, etc. Paying direct tax on time is imperative.

In the event of non-payment, the government may penalize or take legal action. Therefore, it is crucial to pay on time to avoid penal consequences. While some prefer the offline mode, there are many who prefer online payment of income tax. ICICI Bank’s iMobile Pay app allows you to carry out tax payments online seamlessly.

iMobile Pay is a mobile app that caters to both payments as well as banking needs and allows you to shop online, pay bills, scan and pay, apply for loans, link your Accounts and more. The app is available for both ICICI Bank and non-ICICI Bank customers.

If you are a new user, here’s how you can get started with the iMobile Pay app:

• Download the iMobile Pay app from Google Play Store or App Store

• Register on the app using your mobile number and authenticate your bank account details

• Set your mPIN, Fingerprint or your Internet Banking Username and Password.

Here’s how you can pay tax online using the iMobile Pay app:

• Login to the iMobile Pay app using the mPIN, fingerprint or Internet Banking credentials

• Tap on ‘Invest & Insure’

• Scroll down and tap on ‘Tax Payments’

• To pay tax on someone’s behalf, click on ‘Other’. Tap on ‘Self’ to pay your own tax. All the details will be pre-filled.

• Verify the details and tap on ‘Submit’

• Select the type of tax payment: Advance tax or Self-assessment tax

• Enter the amount to be paid

• Select the bank account to be debited and tap on ‘Submit’

• Check your details thoroughly on the pre-confirmation page and tap on ‘Submit’

• Once the tax payment is successful, you can easily download the Challan by tapping on ‘View PDF’.

Benefits of Online Tax Payment

Benefits:

• Quick fund transfer from your Account

• The e-challan details will be sent to the IT department

• Payment of direct tax easily using the iMobile Pay app

• Availability of the Transaction ID of the payment on the bank account

• After online tax payment, confirm the payment by visiting the official website of the Tax Information Network.

The iMobile Pay app is the best mobile banking app for managing payments and banking needs; not just for income tax payments online, but also for various purposes like checking bank accounts, updating information, transferring funds, online payments, among others.