Tag: Axis

Save income tax by investing in tax-saving mutual funds on PhonePe
Business World

Save income tax by investing in tax-saving mutual funds on PhonePe

Jan 15, 2021 by Rekha Nair 0 Comments #Aditya Birla Sun Life, #and ICICI Prudential for offering these tax-saving funds, #Axis, #DSP, #PhonePe, #SBI, #Tata

Are you a salaried person who needs to submit investment proofs at your organization? Did you know that you can save up to INR 46,800* just by investing in tax-saving mutual funds on the PhonePe app in under a few minutes?

PhonePe, India’s leading digital payments platform has made saving income tax a whole lot easier. It provides a quick and simple option to invest in industry-leading tax-saving mutual funds. PhonePe makes tax saving simple, instant & safe while minimising your tax output.

What makes these tax-saving mutual funds attractive for taxpayers is the shortest lock-in period of just three years. Based on the past performance, these funds provide higher returns compared to fixed deposits (FD) and Public Provident Fund (PPF). PhonePe has partnered with trusted mutual fund players such as Axis, Aditya Birla Sun Life, DSP, Tata, SBI, and ICICI Prudential for offering these tax-saving funds.

Here, we look at a step-by-step guide to help reduce tax by investing in leading tax-saving mutual funds on the PhonePe app.

Step 1: Open the PhonePe app and click on the ‘My Money’ section at the bottom of the homepage

Step 2: Click on ‘See all’ under the Investments category and then on ‘Tax-Saving Funds’ under high growth products

Step 3: Select the tax-saving fund you wish to invest in and click on ‘Continue’

Step 4: Enter investment amount, choose an investment type (either one-time or monthly SIP) and click on ‘Invest Now’

Step 5: Select the bank account from which you wish to invest and click on ‘Pay’ to complete the transaction.

Step 6: Congratulations! Sit back & relax as you’ve both invested and reduced your tax liability

(*The saving of INR 46,800 is for investors with a net taxable income of above INR 10 Lakhs but below INR 50 lakhs assuming the investor is in the 30% tax bracket (as per old tax regime) and includes 4% cess.)

Paytm
Business World

Paytm All in One POS empowers 2 lakh businesses this festive season with EMI offers, cashback from top banks & brands

Nov 5, 2020 by Gouri Achary 0 Comments #Axis, #Citibank, #festive season, #ICICI & Bank of Baroda, #no-cost EMI, #Paytm, #Renu Satti

India’s leading digital financial services platform Paytm has today announced that its All-in-one POS devices are empowering all businesses including small shopkeepers, retailers across the country with EMI offers, cashback from top banks & partnered brands. During the ongoing festive season, the company is enabling offline merchants to offer their customers deals similar to e-commerce players and large retailers. Paytm said that over 2 lakh offline businesses powered with POS devices would be taking part in the initiative.

The company has partnered with the top 15 banks including Axis, Citibank, ICICI & Bank of Baroda among others to enable merchants to provide the best cashback offers, no-cost EMI-deals, easy and affordable instalments to their customers. Major brands such as LG, Oppo, Vivo, Realme, Asus, Haier, Voltas, Voltas Beko, Daikin, Bosch, and Siemens will be offering discounts of up to Rs 20,000.

Paytm said that it is extensively working with offline merchants, small shopkeepers, retailers in tier-II, tier-III, and the rest of India cities to empower them with smart devices that accept all payments and help to efficiently run their operations. During the ongoing festive season, Paytm All in One POS would especially help businesses bring back customers to their establishments, present them with affordable offerings, and increase footfalls.

Renu Satti, Senior Vice President, Paytm Said “All businesses including, offline shopkeepers, retailers provide employment to millions of individuals and are an important part of the overall economy of the country. It is our endeavour to innovate products & services that are aligned with our mission of empowering them with technology-led solutions.

With Paytm All in One POS device, we are enabling them to offer the same discounts and bank deals that e-commerce firms offer online. Other than that they are easily able to digitise their business operations, without any investment in technology or backend infrastructure. Our devices are providing the much-needed digitization support to businesses to improve their efficiency & supporting them to join the Digital India mission.”

The smart POS device accepts payments from card swipes and QR code and this device is integrated with the ‘Paytm for Business’ app to generate GST compliant bills and also to manage all transactions & settlements. Besides this, Paytm for Business app also helps merchants to avail of numerous business services and financial solutions such as loans, insurance, and Business Khata to manage a digital ledger of all their transactions including udhaar, cash, and card sales. The Paytm for Business App has witnessed over 25 million downloads and is one of the most popular merchant apps on Google Play Store and App Store.