~ The novel tax filing solution lets taxpayers file their income tax return through AI driven logic
~ Witnesses 200% higher user preference than alternative platforms
ClearTax introduces its AI-driven tax filing solution for the Indian taxpayer; this novel tax filing solution enables taxpayers to finish filing their taxes by simply using their Form 16.
The study done by ClearTax showed that the users had a 2x higher preference for ClearTax as compared to alternative tax filing platforms after using the newly launched feature. 50% of high-income earners commented that tax filing is an easy process via ClearTax. ClearTax’s automated tax return feature auto-selects the relevant ITR form and allow users to claim automatic deduction of Rs. 10,000 on their interest income. It also auto-calculates capital gains from mutual funds through CAMS report of a user, removing the pain of manual intervention and offering 100% accuracy. The same technology has been democratized to over 30,000 CA firms helping them file taxes easily for their clients which has lead to higher tax compliance in India.
Archit Gupta, Founder and CEO of ClearTax said, “Our AI driven solution has been a breakthrough, customers are loving the convenience. We are delighted to offer the best AI driven filing process to every single taxpayer who comes on our platform and also to CAs who are using it widely to file returns for their clients; its remarkable moment for Team ClearTax.”
With its continuous focus on simplifying tax filing, ClearTax’s automated tax return feature will help its users in filing their taxes in the most simplified manner possible.
A disruptive digital tax-filing platform, ClearTax, has allowed Indians to file their taxes using tech-enabled solutions seamlessly. Recently, the platform had also launched a dedicated mobile app for one-tap tax filing. Such targeted and tech-driven initiatives have driven 4X jump in conversion rate for the platform. The user experience of the app, as well as the online platform, makes it easier for millennials to adopt the digital platform’s end-to-end services continuously.
About ClearTax
ClearTax is India’s leading fintech company that offers intelligent software solutions for compliance with direct and indirect taxes. ClearTax is on a mission to simplify people’s financial lives and improve outcomes for businesses by helping them manage taxes and compliance simply and smartly.
Incubated by Y Combinator, the long list of Clear Tax’s investors include Peter Theil’s Founders Fund, Max Levchin, Scott Banister, Composite Capital, Sequoia Capital and SAIF Partners. Earlier this year ClearTax was also branded a unicorn startup by ‘The New York Times.’
