The Income Tax Department on Tuesday launched the e-Pay Tax facility on its portal. With its launch, it will become much easier for taxpayers to pay taxes. According to PTI news, the Income Tax Department said in a statement that the ‘e-Pay Tax’ facility launched by the department is an elegant, efficient and hassle-free way to fulfill your tax obligations.
An effort to digitally empower taxpayers
According to the news, the days of long queues in banks, tedious form filling and last minute tax payment worries are now over. Recognizing the need for easier and more accessible payment methods and taking another step towards digitally empowering taxpayers, the Income Tax Department has launched the ‘e-Pay Tax’ facility on its official online portal.
The Income Tax Department said that this facility also encourages a culture of timely compliance by eliminating friction in the tax payment process. It brings tax administration closer to citizens, especially individuals and small businesses, by providing a direct digital route for them.
Which tax system is better in the new financial year
In the new financial year, taxpayers will need to choose between the new and the old tax system. In such a situation, with the increase in the exemption limit in the new tax system, it is important to know which tax system is better for them. According to experts, the new tax system is suitable for taxpayers with an annual income of up to Rs 12 lakh (Rs 12.75 lakh for salaried individuals), but which system will be better for individuals with more income than this depends on whether the taxpayer is planning any savings and investment to reduce tax liability or not.
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