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Moneycontrol Bureau
It’s that time of the year when you have to file your investment declarations and submit annual returns if you’ve missed filing them in the earlier months. The fiscal year ending March 31, 2017 is the deadline to file taxes for the year. For people who’ve missed filing in the fiscal 2014-15, this will be last chance to file returns as well. With numerous startups mushrooming in the fin-tech space, e-filing of taxes has become a breeze.
Most of the startups charge anywhere from Rs 100 to Rs 250 for a basic return. For NRIs the services start from Rs 1,000 onwards. If you’ve received a tax demand notice, a chartered accountant assisted service can cost upwards of Rs 2500. PAN numbers can also be validated in bulk by such online companies.
Here are some top startups in this space and the investors behind them:
1) ClearTax
Founded by Archit Gupta and his father Raja Ram Gupta in 2011, this Bangalore based fintech startup provides an alternative to the Indian government’s tax filing website. In April 2016, it raised USD 1.3 million in seed funding from PayPal co-founder Max Levchin, Scott Banister an early investor in Facebook and Uber and other silicon valley investors. It raised USD 2 million in pre-series A round from Founders Fund Angel and Sequoia Capital.
It’s best suited for small and medium sized businesses, along with consultants, tuition teachers and sellers on e-commerce sites.
2) Tax2win
Jaipur-based Tax2win helps to simplify tax filing for its users and try to make it hassles. This helps users to calculate their income tax, save taxes and track their refund status by using their…