Paytm users can now file ITRs via ClearTax for ₹11
What's the story
Paytm has teamed up with ClearTax, a tax-filing platform, to provide online income tax return (ITR) filing services via its app. The partnership comes just in time for the upcoming ITR deadline and is aimed at simplifying the process for people who find tax compliance difficult. The new service can be accessed under the 'Free Tools' section of the Paytm app.
Cost-effective solution
Plans start at ₹11
The ITR filing service comes with plans starting at just ₹11.
Under this plan, taxpayers can use ClearTax's automated filing process that pre-fills tax details using information from the Income Tax Department's records.
The platform also helps choose the right ITR form and tax regime based on taxpayer details, making the process even simpler.
Investor benefits
One-click import of trade data
For investors, the new service offers one-click import of trade data from over 80 brokers. This feature automates capital gains calculations, making it easier for users to manage their investments.
The companies have also promised free Notice Protection as part of the service.
Under this, ClearTax will help taxpayers if they receive an income tax notice after filing their return by explaining the notice and preparing responses until resolution.
Strategic collaboration
ClearTax, Paytm working to make tax filing easier
Archit Gupta, founder and CEO of ClearTax, said the partnership is aimed at tackling cost and complexity issues that often delay tax filing.
Paytm also emphasized that this service is part of its efforts to make financial services more accessible through its platform.
Taxpayers can access the feature by opening the Paytm app, scrolling to the 'Free Tools' section, and selecting "File your ITR with ClearTax."