Paisabazaar.com, India's largest online marketplace for financial products, announced today it has received nearly 50,000 registrations in August on its new income tax-filing platform, which is currently in beta phase.
According to income tax department website, only 2.66 crore people filed their taxes by July 31, 2019, whereas the total number of tax filers last financial year was over 6.6 crore. To encourage tax filing before the August 31 deadline, Paisabazaar.com launched an incentive campaign for tax filers, with winners, picked basis a lucky draw, to be rewarded with 5 smart TVs, 50 Amazon firesticks and 100 Bluetooth headsets.
Naveen Kukreja, CEO & Co-founder, Paisabazaar.com
Through partnerships with 129 financial services players including banks, NBFCs, digital lenders and mutual fund houses, Paisabazaar.com offers more than 300 financial products on its platform to meet all consumer borrowing and investment needs. Paisabazaar.com launched the beta version of its tax filing platform for its customers in June, to add another facet in its suite of financial products.
“Paisabazaar.com's mission is to create a comprehensive platform that meets every personal finance need of our consumer. As a market leader and one of India’s most trusted financial services consumer brands, we want to build on the trust of our consumers by providing them with a world-class platform to file their ITR for free,” said Naveen Kukreja, CEO & Co-founder, Paisabazaar.com.
Radhika Binani - CPO, Paisabazaar.com
Currently, salaried customers only need Form 16 to file their taxes and the platform will automatically read the data and fill their returns. Paisabazaar.com says for the next few months, it will continue to focus on making the tax-filing platform simple and easy to use.
“Customers hereon can file their income tax returns on our new tax-filing platform conveniently, in a matter of a couple of minutes and for absolutely free. Over the last few years, we have seen a clear customer preference for DIY digital platforms, and with traffic on Paisbazaar growing at 300% p.a., we aim to build the best-in-class tax-filing platform for our growing customer base,” said Radhika Binani, Chief Product Officer, Paisabazaar.com.
Paisabazaar.com, currently, receives over 25 million visits from more than 1250 cities across India in a month.