Filing tax returns are often looked at as hard work and just before the application deadline, taxpayers are concerned about finding professionals to do the job for them. ClearTax was created in 2011 with the aim of proving that tax collection is difficult. The start of the ITR tool was developed before the tax collection period for 2011, when the process was more impactful than it is now, and it provided 1,000 users live for the time being. In 2016, the company announced the equipment to become GST, and which was very successful, that ClearTax should increase its 30-team group in mid-2016 to 300 people in just 8 months. . Today, ClearTax is used by more than 5 million Indian taxpayers to e-file their taxes, making India the top player in the industry.
The best presentation that ClearTax has done is that its software sharing program promises to tax people in just 7 minutes. The declaration alone looks at the perception that taxation is a burden. Aside from the simple process of ITR litigation, the company also has web and mobile-based ITR and e-TDS software that help thousands of CA companies and companies across India manage them. practices. Its GST software is used by over 6 million businesses, 60,000 CAs and tax collectors, and more than 1,000 large businesses in India. In addition, the company has a ClearTax Partnership to jointly create capital opportunities for wealthy developers and further tax savings.
cleartax main2 ClearTax
Expert advice: TechArc analyst Faisal Kawoosa says, “These portals are ideal for solopreneurs and SoHo beginners who want to pursue their own tax-related business. Most of the time one needs advice in these matters and the portals act as 'tax advisor' added value. "
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Archit Gupta Founder CEO ClearTax 1 Archit Gupta Founder
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Tools 360 spoke to the founder of ClearTax, Archit Gupta to find out more about the company’s journey past and its future goals.
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1. What did you do before you started ClearTax?
Prior to ClearTax, I worked for an early-stage IT firm Registration firm, in Silicon Valley.
2. What inspired you to start ClearTax?
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I was inspired by the start-up environment in Silicon Valley where people solve difficult problems using technology. During my visit to India in the summer of 2010, my father (Treasurer) and I started talking about the difficulties of the government recently discussing online tax payments. . I have learned that not only are the average taxpayers but even the professionals are not willing to work on the portal.
The government platform has Excel-based tools. Taxpayers pull out a document and then create an XML document before putting it on its own. It is a big problem and needs a solution.
I went back to my job and spent the next few months trying to measure the feasibility of developing a personal work platform. Research has begun to show that not many Indians have applied for tax credits, largely because of a lack of recognition of the consequences of incompleteness and misconduct.
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Only 4.36 crore tax assessments were made in the 2011-12 fiscal year, or 3 to 4 per cent of India’s total population. I can believe the time. With the help of interns, I got the first fact that ClearTax was planning for 2011.
3. Were there any challenges you encountered during the initial work period?
It was a long and lonely journey before knowing my way.
Tax collection was a difficult issue when we started out in 2011. India has a minimum tax rate with low tax rates. Fintech is not part of the Indian or global definition. The ClearTax building in this landscape struggles a bit and goes against popular targets. Hence, I was faced with a lot of distractions tha