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Cleartax now allows businesses to file taxes; Our take

Cleartax, which until recently used to only enable tax filing for individuals, has now launched a platform which allows businesses and freelancers to file taxes, without using a Chartered Accountant. In an emailed response to MediaNama, Cleartax founder Archit Gupta said "A business tax return is 28 pages. Filing that for laymen is very tough." Product and Pricing Cleartax is simplifying this by taking a question and answer (Q&A) approach, which requires users to fill in their income (revenue); expenses, based on classifications; assets, kind of asset and date of purchase. Based on classifications, Cleartax automatically calculates depreciation for the business, and helps users classify personal expenses from business expenses. The platform allows for an automated preparation of the profit and loss account and balance sheet. In addition to this, the platform has customized filing for segments such as doctors, engineers, freelancers, derivative traders, commission agents, insurance agents, wholesalers/retailers - based on Expense, Income and Assets Definition through drop down menus. Cleartax also has a curated pool of Chartered Accountants to look into tax queries through email and phone calls. The product is free for Freelancers, Commission & Insurance Agents, while charging Rs 3700 for businesses with income over Rs 5 lakh, Rs 6,500 for businesses with income of upto Rs 10 lakh, and Rs 11,300 for businesses with income of over 10 lakh. This product launch comes shortly after Cleartax raised $12 million from SAIF Partners. At the time, Gupta had told MediaNama that the company was also looking to…

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Written By

Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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