The pandemic has in a matter of days become the talk of the town. All sectors of the economy are undergoing sea changes. The finance world is no different. Most of population stuck at home, work productivity is at an all-time low causing all financial organizations to suffer from a shortage of human resource. With less number of chartered accountants, all businesses are expected to encounter problems in filing their taxes. Recently the Government pushed the deadline for filing of income tax and other taxes to the 15th of July. Despite this, a good and efficient tax-paying software can do wonders for one’s business.
ClearTax is one such software and is one the most highly-rated softwares around. ClearTax.in, established in 2011 is predicated in Bengaluru and provides solutions for tax filing, G.S.T and open-end fund Investments. Founded by Archit Gupta, Srivatsan Chari and AnkitSolanki, their website mentions that the company works to demystify Income Tax filing for the average Indian. It now boasts over 2.1 million customers within the country.
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According to Netizens, using ClearTax has its benefits.
1) Relatively Cheap
Rather than paying thousands of rupees to chartered accountants and other financial organisations, one can easily pay just Rs 799 to file income tax returns. Other plans catering to capital gain incomes and global income residents range from 3000 to 4000.
2) Data Security
Revealing your personal financial information to shady offshore companies doesn’t sound correct . But ClearTax employs high-level encoding services to secure both incoming and outgoing information. Thus the customer’s information is extremely secure from all types of cyber-threats.
3) Ease of Use
The website, by eliminating the middlemen, has enabled users to interact with its highly user-friendly dashboard instead. With features like automatic tax filing and deadline reminders, ClearTax has emerged as one of the leading online tax filing softwares.
4) Mobile Compatibility
Nowadays, most companies have an app to enrich their operations. ClearTax is no different. With app that compatible almost all Android devices, filing taxes and doing other financial transactions is simpler than ever before. Although the company is yet to release its App Store app.
5) Language Support
With an increasing number of non-English speakers gaining access to the Internet, companies have to become multilingual to accommodate this growing traffic. ClearTax does the same. With operations in English and other regional languages, it caters to consumers pan-India.
6) Customer Support
The only advantage that offline tax filing systems have over the web ones is that the customer support and interaction that they provide . But ClearTax offers 24X7 support to its clients effectively rendering the offline systems completely useless.
7) Consumer Base
The finance world caters to an outsized and diverse consumer base. As tax returns need to be filed by most companies, ClearTax’s customer base is exceptionally diverse. Practically everyone, from startups to freelancers employ ClearTax for their tax filing needs. Even small and medium enterprises(SMEs) like clinics and shop owners use ClearTax.
8) Transaction tracking
Endlessly bugging your chartered accountants for updates on your transaction gives tax filing the tedious reputations it’s . But with ClearTax, there is none of that. You can visually see the progress of your ‘file’ from the comfort of your home.
9) Audit trail
Auditing is a necessary aspect of every organisation. With daily transactions sometimes amounting to lakhs of rupees, the job of the auditor in any organisation seems to be endless. Compiling records from different banks and payees is back-breaking work. ClearTax manages all that for you. It maintains a clear and precise audit trail which helps one to organise one’s budget and fill tax reports easily and efficiently.
Wage reporting is another necessary tax that every formal sector organisation has to do. Reporting the total wages and other benefits given to your employees is an unfortunate ordeal that every employer has to go through. With ClearTax all of that’s automatic because the software tracks all of your online transactions.
11) Utilisation of MIS Reports
MIS Reports or Management Information System Reports are utilised by all financial organisations. ClearTax also utilises one of these systems to effectively control, coordinate and analyse the data provided by its customers. The system helps the software to effectively correlate each customer’s detail together with his or her respective tax report. It simplifies the method along side making it faster and more efficient.
Although the explanations for selecting ClearTax for all of your tax filing needs are many, nobody are often a far better judge than the buyer himself. It is imperative that one carefully analyses each software or website’s features before investing. Once you decide on one software it is advised to stick to it and not be indecisive as this can create confusion for both you and the tax authorities.