The income tax department has launched a new feature on the income tax e-filing website that allows an individual to pay income tax later. This means that an individual can continue to file ITR without paying the pending income taxes first. Once the ITR is filed, then the income tax amount can be paid, albeit with some conditions. Earlier the ITR could only be filed once the due taxes were paid. “Income tax department has given an option of pay later when we file income tax return (ITR) . Therefore, an individual can file an ITR without paying income tax dues first by using the pay later option,” said CA Abhinit Singh, Founder, Ready Accountant, a Kolkata-based educational institution. Read below to find out how to use the ‘Pay Later’ option on the Income Tax Department’s e-filing portal. Pay later facility is available for this tax payment According to Mihir Tanna, Associate Director (Direct Tax), S K Patodia & Associates, a Mumbai-based CA firm, “The ‘Pay...
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