The fintech sector is enhancing its value by each year. More young entrepreneurs are targeting the field for getting started with the supportive financial business. Launched in 2015, Tax2win is one such startup that enables a user to file his tax with faster and efficient manner. A 24 years old, Abhishek Soni is behind the company who along with her friend Vertika Kerdia started the venture of this online professional tax filing.
Abhishek has been an auditor at Ernst & Young in Gurgaon. During that time when he used to travel to his office via an Uber, drivers often ask him about the complicated tax filing. Since then he moved towards the new platform that can make this complex tax filing an easy task, and Tax2win born. Initially, it was hard for his parents to understand his thought process and to leave a settled job to start a business solution.
Points to Ponder
There were two major points behind his decision; one was the reason of the increased employment that generates the layer of new people for tax filing category. Another point was the lack of enough helpful resources that can make the doubts and process of these taxpayers.
Having three corporate partnerships, the firm launched the beta version of the product. Within ten days, they received 1000 users filing 300 returns. According to Abhishek, he considers that the demand for the huge amount of the information from the user is the cause of finding tax filing a complicated task.
The platform supplemented with a CA assistant that guides a user taking the process forward after the stage of documentation collection. The accountants answer the customer’s queries within 24 hours. For a user to get a personal accountant for all year round, the platform charges INR 299 annually. Moreover, CA Reviewed feature of the product crosscheck the tax filing of a user. There is a nominal fee of INR 99 for this feature.
Platform and Plans
The full service of the platform will be rolled out by September of the year. Currently, the platform has 30, 000 users out of which 3000-4000 leveraged the CA Assistance service. Some of the clients of Tax2win are Indian Railways, Idea Cellular, Marriott Group of Hotels, Fortis Healthcare, and IndiGo.
Nearly 30 – 50 percent of the revenues of the firm come from the B2B side of business, where the company runs Office helpdesks helping employees regarding their tax filing. They also have tie-ups with corporate houses. It has increased an investment one million from a Jaipur’s business house. Their competitors’ names include Cleartax, TaxZippy, Zerodha, Taxmantra, and Makeyourtax.
The Bottom Line
Tax2win is looking forward to establishing offices in Bengaluru and Mumbai, shifting from the Jaipur office. Along with the new B2B clients, their technology enhancement model includes the plan of introducing TDS filing and tax-saving services. Also, reinforcement of the team with new teammates lies in their target list.