You can now file your ITR on PhonePe and JioFinance
What's the story
Fintech platforms PhonePe and JioFinance have launched in-app tax filing services in collaboration with TaxBuddy. The move comes ahead of the income tax return (ITR) filing deadline and expands the range of financial services offered by both companies. The new service offers do-it-yourself (DIY) and expert-assisted ITR filing options, with self-filing plans starting at just ₹24.
Service details
Services cater to various user segments
The tax filing solutions offered by PhonePe and JioFinance cater to salaried individuals as well as those with more complex filing requirements. This includes business income, capital gains, cryptocurrency transactions, foreign income, and non-resident (NRI) filings. The services are powered by TaxBuddy, a registered E-Return Intermediary (ERI), and are integrated into both apps for seamless use without visiting external portals.
Feature highlights
Advanced features available on JioFinance
JioFinance's tax filing module comes with a host of advanced features. These include automated data retrieval from the Income Tax Department portal, tax planning tools, comparison of tax regimes, deduction estimation under provisions such as Sections 80C and 80D, and refund tracking. The company has assured that taxpayers' data will be processed within TaxBuddy's regulated framework solely for the purpose of filing income tax returns.
User convenience
PhonePe users can also manage GST compliance
PhonePe's new feature allows users to file ITRs and manage monthly GST compliance from within the app. In addition to self-filing, it also provides expert-assisted filing for complex tax situations as well as GST filing services for freelancers and small businesses. This makes the entire process of tax filing much simpler and more convenient for users on the platform.
Reward scheme
Users can earn rewards while filing taxes on JioFinance
Along with tax filing, JioFinance has also integrated the service with its JioPoints rewards program. Under this scheme, users can earn redeemable rewards worth up to 25% of the filing fee, subject to terms and conditions. This addition further enhances the appeal of their new service and encourages more people to use it for their tax-filing needs.