Income Tax Department has introduced a new feature, under which you can file income tax return first and pay it later. This feature is available on the e-filing portal of the Income Tax Department. With the help of this feature individuals can file ITR earlier without paying pending tax.
Once the ITR is filed, you will have to pay tax. However, with the help of this feature, some condition has been given to file ITR. Let us know how you can use this feature.
Pay letter facility launched for this tax payment
According to tax experts, pay letter option can be used only for self assessment tax payment while filing ITR. Pay letter option is not available for advance tax payment, TDS and others, said experts.
What is the disadvantage of using this feature
Some points need to be kept in mind while filing ITR using pay later option. Once you are going to file ITR and opt for this option then you can be considered as defaulter. Also you may have to pay interest on the tax.
How to use this feature
- First of all visit New Income Tax e-filing Portal
- File Income Tax Return once logged in
- Now fill ITR after checking all your details
- As soon as you fill the information related to income, Income Tax Department shows the complete details of tax payment. It also provides a deadline by when you have to pay tax.
- On this website you can see how much tax you have to pay
- Once you have entered this tax amount You can choose Pay Later or Pay Now option
- Now you can file ITR by choosing Pay Later option
- After filing ITR you can pay tax are
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