LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Personal Finance News

Income tax solutions and much more, what ClearTax does, CEO Archit Gupta explains

The personal income tax related services segment, which is a business to consumer (B2C)-focused offering, has recorded almost a 100% growth year on year.

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Income tax solutions and much more, what ClearTax does, CEO Archit Gupta explains
The ClearTax GST software helps enterprises manage their SAP, Oracle and Tally interfaces, said Gupta.
Written By: ZeeBiz WebTeam
Updated: Tue, Oct 02, 2018
06:44 pm
ZeeBiz WebDesk
RELATED NEWS
PF Tax Rules: Check EPFO rules that will affect your EPF, Provident Fund contribution from 1st April this year PF Tax Rules: Check EPFO rules that will affect your EPF, Provident Fund contribution from 1st April this year
How to save Income Tax? Top tips, options – Home loan, education loan, NPS, APY, 80CCD, 80C, house rent and more How to save Income Tax? Top tips, options – Home loan, education loan, NPS, APY, 80CCD, 80C, house rent and more
PF-EPF Passbook Balance latest update: Will EPFO members among central government employees get affected after Wage Code Bill implementation? PF-EPF Passbook Balance latest update: Will EPFO members among central government employees get affected after Wage Code Bill implementation?
Income Tax: Want to save money? Top 5 tax saving investments mistakes you must avoid Income Tax: Want to save money? Top 5 tax saving investments mistakes you must avoid
Income Tax Calculator: EXPLAINED | Who can invest up to Rs 2.5 lakh in this Life Insurance Policy to save money Income Tax Calculator: EXPLAINED | Who can invest up to Rs 2.5 lakh in this Life Insurance Policy to save money

Launched in 2011, ClearTax is a pioneer in the fintech-powered taxation and compliance sector. The start-up has witnessed a rapid growth in the number of taxpayers driven by two primary factors: demonetization and implementation of goods and services tax (GST). In fact, the personal income tax related services segment, which is a business to consumer (B2C)-focused offering, has recorded almost a 100% growth year on year. Archit Gupta, co-founder and chief executive officer, ClearTax, tells Ashish K Tiwari about the overall business and more.

Last few months must have been busy time at your firm ..

Both our business to business (B2B) and business to consumer (B2C) sides of the business are keeping us busy. This is the first tax assessment year after the implementation of GST. We’d built a new vertical last year to offer enterprises simplified solutions to file GST returns. Our income tax filing platform is looking to process nearly 4 million tax returns (40 lakh) this year, which is the highest for any platform in the country. On the other hand, we have delivered our GST solutions to over 40,000 companies, including large enterprises such as Puma, Hardcastle Petrofer, Lenskart, Inox AP and Epson among others. In the online space PhonePe, Myntra and Jabong are using our platform. We are looking to reach 1 lakh businesses in the coming years.

What is driving these businesses to use the ClearTax platform?

The ClearTax GST software helps enterprises manage their SAP, Oracle and Tally interfaces. Also, the ClearTax interface is integrated with the government portal to provide enterprises with comprehensive change management and tax filing assistance. It’s not efficient for businesses to do it by themselves, especially on an enterprise-scale. ClearTax is providing a specialised software which understands the GST law and is updated with all the recent developments in terms of compliance regulations. Our software uses intelligent algorithms that employ machine learning to match invoices to relevant entries and corporate customers reported an increase in data matching by 60% after using our software. Enterprises can also share the software with suppliers, vendors and distributors and ensure GST compliance of the entire supply chain.

Isn’t Tally a significant player in this area?

Tally operates in the small business space and ClearTax targets its solution to large businesses and their end-to-end requirements. We offer them the option to integrate our interface with that of any solution ERP, including Tally. Besides this, we also have our own Tally Connector. Clients can install the ClearTax Tally connector in Tally and use the software. It really doesn’t matter what software you’re using for accounting or bookkeeping, we can help businesses integrate multiple interfaces. We have recently launched the E-Way Bill solution, where businesses can generate an e-way bill on goods being moved across different locations.

Do you plan to get listed say three to five years from now?

A listing should be possible for us easily. We would prefer to get listed on an international exchange than an Indian exchange because a tech company gets valued differently in international exchanges as compared to Indian ones.

Given the volumes, you must be profitable?

No, not yet. We are investing ahead of the curve now and we spend a lot—45%— of our revenues on R&D and technology.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Income taxGSTClearTax
RELATED NEWS
PF Tax Rules: Check EPFO rules that will affect your EPF, Provident Fund contribution from 1st April this year PF Tax Rules: Check EPFO rules that will affect your EPF, Provident Fund contribution from 1st April this year
How to save Income Tax? Top tips, options – Home loan, education loan, NPS, APY, 80CCD, 80C, house rent and more How to save Income Tax? Top tips, options – Home loan, education loan, NPS, APY, 80CCD, 80C, house rent and more
PF-EPF Passbook Balance latest update: Will EPFO members among central government employees get affected after Wage Code Bill implementation? PF-EPF Passbook Balance latest update: Will EPFO members among central government employees get affected after Wage Code Bill implementation?
Income Tax: Want to save money? Top 5 tax saving investments mistakes you must avoid Income Tax: Want to save money? Top 5 tax saving investments mistakes you must avoid
Income Tax Calculator: EXPLAINED | Who can invest up to Rs 2.5 lakh in this Life Insurance Policy to save money Income Tax Calculator: EXPLAINED | Who can invest up to Rs 2.5 lakh in this Life Insurance Policy to save money

LATEST NEWS

Realme Narzo 30 series India launch Today; Check timings, how to watch it live, and other details

7th Pay Commission latest news: Central government employees alert! Your DA, PF, Gratuity, other allowance may change next fiscal

RBI Recruitment: Here's how to apply online on rbi.org.in for 841 vacancies across India | Check date, time and other details

Edelweiss maintains 'BUY' on Aarti Industries, SRF and Galaxy Surfactants, while maintaining a positive view on the speciality chemical sector

UPSC exam: Plea rejected by Supreme Court! No extra chance to these civil services exam aspirants

SBI share price: Decoded! Technical, fundamental share analysis for stock investors

In chat with Anil Singhvi, Market Expert Ajay Bagga talks about increasing bond yields, its impact on economy and Bitcoin price crash

SolarWinds, Microsoft, FireEye, CrowdStrike defend actions in major hack - U.S. Senate hearing

NSE trading resumes at 3:45 pm; to go on till 5 pm

JEE Main 2021: Paper-1 for B.Tech Exam (Shift-1) begins under strong surveillance! 6,09,889 candidates choose to write papers

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved