Tag: Archit Gupta

ClearTax appoints ex-MedLife Paranth Thiruvengadam as its CTO
Business World

ClearTax appoints ex-MedLife Paranth Thiruvengadam as its CTO

Jan 13, 2021 by Rekha Nair 0 Comments #Archit Gupta, #ClearTax, #CTO, #ex-MedLife veteran Paranth Thiruvengadam, #Founder and CEO

Bengaluru: In its second C-level hiring in less than a month, ClearTax – India’s leading tax and fintech solutions provider – has on-boarded ex-MedLife veteran Paranth Thiruvengadam as its CTO. In his role, Paranth will spearhead strategic tech initiatives of ClearTax to further simplify taxation and finances for Indians.

Paranth has two decades of leadership experience in building great teams and innovative products at technology companies. His experience spans Fortune 500 companies such as Yahoo!, Walmart Labs, IBM Labs, and Verizon along with high-growth startups. Paranth has successfully applied technology to fulfill several need-gaps across healthcare, commerce, retail, and fintech segments. 

Speaking on the new hiring, Archit Gupta, Founder and CEO, ClearTax said, “Paranth is a well-rounded technology leader and has led his past organizations to scale. I loved my interactions with Paranth and was impressed by his passion for technology. We are confident that he is the perfect fit for driving the mission of the company with his value-oriented tech strategy.”

At ClearTax Paranth will be leading efforts to scale the current technology team and focus on the innovation in fintech SaaS space via machine learning, AI and data science led initiatives. He will also be leading the tech efforts for ClearTax’s foray into the financial services space. 

ClearTax is a multi-award-winning fintech platform that provides simplified financial services including GST Compliance, Tax Filing, TaxCloud, TDS Returns, Mutual Fund Investments, and CA as well as Legal services. The platform has served more than five million taxpayers along with six lakh businesses. It has recently bagged the IFTA 2020 Award for ‘Fintech Scaleup of the Year’. 

Earlier this year, when multiple businesses were scaling down their teams and operations, ClearTax announced its plan to hire more than 150 employees.

Technology

ClearTax ups its mobile-first ante with two feature-intensive apps and Rs. 100-crore budget; eyes 1 million downloads in 6 months

Jan 5, 2021 by Rekha Nair 0 Comments #Archit Gupta, #Founder and CEO - ClearTax

Bengaluru: ClearTax, India’s leading tax and fintech solutions provider – has launched two feature-intensive mobile applications. ‘ClearTax Black’ for individuals and ‘ClearTax Pro’ for tax professionals; marking its strong foray in the app world.  Via these app launches, the fintech platform aims to build on its millennial-centric, mobile-first approach and reach more than 1 million downloads over the next six months for Black as well help serve a large number of tax professionals for all of their GST compliance needs – earmarking a budget of Rs. 100 crores for the same.

ClearTax Black

‘Black’ is the outcome of ClearTax’s obsession with simplifying finance for individuals and empowering them to grow wealth. ‘Black’ introduces an interactive design based approach which is aimed at millennials; it will customize and curate long-term investment options for millennials based on their goals. The move has also been made sensing a marked shift towards trends such as ‘Robinhood-isation’ in finance, wherein people aspire to engage in traditionally complex tasks (like trading and investing) in an easy-to-use, app-based format. The fintech platform will now be able to serve the wealth needs of millennials  via ‘Black’ while also extending easy access to other financial products.

In terms of features, ClearTax Black empowers individuals to create wealth through investments in direct mutual funds, tax savings along with the added advantage of tax filing. The app has a clutter free design, with an intuitive interface, replicating its very popular income tax return filing experience. It offers easy to understand & decision enabling insights on best suited investment opportunities for a user just like a close friend! It supports all modes of payments including UPI, net banking, and card-based payments from RuPay, Visa, and MasterCard debit and credit cards alongside others.

ClearTax Pro

ClearTax Pro is India’s first app exclusively designed for tax professionals and consultants to help them to communicate and collaborate with their clients on the move. Currently, tax professionals can use Pro to check and share GST filing status for all clients and keep themselves updated around tax compliance deadlines, major events and tax and finance updates. Very soon, Pro will also enable tax professionals to share GST reports and GST payment information with their clients.

Speaking on the launch, Archit Gupta, Founder and CEO – ClearTax said, “With Black, users will be able to experience investing in a simple and intuitive format. The app will offer basic guidelines to those who are new to investing and will also help   seasoned investors who need deep insights about their investments. With the launch of Black and Pro mobile apps we are now bringing simplicity to wealth creation, ease of doing taxes and finance for every Indian on their mobiles. In the beta phase, Black has registered more than 40,000 downloads within the first week of launch. We are confident that with both of these apps we will address investing needs for users and also help simplify compliance for tax professionals.”

Both these apps are built with React Native and GraphQL, which are two open-source frameworks built originally at Facebook. ClearTax is the largest private player in the income tax return filing space and owns more than 10% market share in ITR filing. ClearTax processed more than $250B worth of GST invoices in FY 2020. More than 1,500 enterprise customers use ClearTax GST for GST compliance.

Business World

Assured Rewards of Rs 51,000 for e-filing with ClearTax

Oct 21, 2020 by Gouri Achary 0 Comments #Archit Gupta, #ClearTax, #fintech company, #Nikhil Ragurajan

ClearTax, India’s leading fintech company which helps individuals and organisations with tax, compliance and investments, is offering assured rewards worth Rs 51,000 on filing income tax returns (ITR) within the due date of 31st of October. The company has partnered with various brands to make ITR filing rewarding.

On successfully filing your income tax return with ClearTax, you will unbox assured rewards worth Rs 51,000 across 26 brands and 44 offers. This includes Samsung, Titan Encircle points, coupons on Swiggy and Zomato, Flipkart, JBL, discount on select brands on Myntra, free subscription to Gaana Plus and many more.

ClearTax’s tax filing software can read any Form 16 and automatically populate the required information for filing ITR. The software can also read multiple Form 16 if the filer has changed jobs during the year. Further, ClearTax’s software can parse stock and mutual fund statements from all major companies such as Karvy, CAMS and Zerodha and populate all the fields required for reporting capital gains.

Taxpayers who have earned long-term capital gains by selling listed equity shares and units of mutual funds are required to disclose the same while filing their ITR under Schedule 112A. The following are some of the details to be disclosed under this schedule; ISIN, name, number, sale and purchase price. These details will be auto-parsed by ClearTax’s tax-filing software on uploading the statement and tax payable on capital gains will be auto-calculated.

Nikhil Ragurajan, a software engineer working for a leading MNC, said “I am extremely happy that I could file ITR on my own at ClearTax. Their tax-filing software is very simple to use. I just had to upload my Form 16, and the software read it to auto-populate all the required details.I finished my filing in a very short time, and that too for free. I also got a coupon usable on Flipkart Flights. I was about to book a flight to go home for Diwali, and this coupon has delighted me”.

Tax filing has never been so rewarding according to Archit Gupta, Founder and CEO, ClearTax. “We want to celebrate and reward taxpayers who do their compliance timely, there couldn’t be a better time to thank them for contributing to the economy” said Gupta.

Business World

ClearTax’s tax filing software can parse all capital gains information in a single click

Oct 2, 2020 by Gouri Achary 0 Comments #Archit Gupta, #CAMS, #ClearTax, #Karvy., #tax filing software, #Zerodha

ClearTax, India’s leading fintech SaaS company, which offers GST compliance and tax & investing related products, today announced that its tax filing software can parse stock statements from all major agencies such as Zerodha, CAMS and Karvy.

Taxpayers who have earned long term capital gains from the sale of listed securities and mutual funds during FY 2019-20 are mandatorily required to report details in their income tax returns under Schedule 112A. This schedule requires information such as ISIN, name, number, sale price, purchase price etc for every single scrip or mutual fund sold. By using ClearTax’s online tax filing software, all the relevant details in Schedule 112A can be auto-populated at the click of a button. Customers can also calculate their capital gains within a few minutes.

Archit Gupta, Founder & CEO, ClearTax, said, “ Our customers rely on us to provide them simple solutions so that they can succeed at tax filing independently, thousands of customers have already used this feature and love the convenience. We are committed to making Indian taxpayers compliant in a hassle-free and reliable way.”

This information was required to be reported last year as well but was not mandatory. Lakhs of customers have already used this feature successfully.

Business World

ClearTax amongst 20 Indian startups in CB Insights’ World’s Most Promising Fintech list

Sep 4, 2020 by Gouri Achary 0 Comments #Archit Gupta, #ClearTax, #Founder and CEO - ClearTax

New Delhi, September 04th, 2020: In a major development, ClearTax – India’s leading tax and fintech solution provider – has now been featured in the World’s 250 Most Promising Fintech Startups by CB Insights. There are 2,174 fintech startups in India according to a recent MEDICI Global Report. ClearTax appears in CB Insights list for the second time in a row. The brand was identified among the top 50 potential unicorns globally in February 2019.

Speaking on the development, Archit Gupta, Founder and CEO – ClearTax said, “Since its inception, Cleartax has worked with a singular objective of simplifying finances for Indian professionals and businesses. We have consistently come up with unique financial technology solutions that have been well-received in the market. Our inclusion to CB Insights’ list is a testament to our never-ending efforts towards our overarching objective and has charged the Team ClearTax with renewed energy. We would like to thank the jury at CB Insights for their positive remark.”

So far, the 9-year old fintech platform has helped more than 5 million Indians in e-filing of their tax returns. It has further assisted 6 lakh businesses, 60,000 CAs and tax professionals, and 1,000 large enterprises in their GST filings.