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.
