Making The Process Of Filing It Return Hassle Free: How This App Is Changing The Scenario Of Finance World
myITreturn is doing the same thing with all conviction. It is an India based start-up helping people file their IT return. It was started in the year 2006 and is a subsidiary of Skorydov Systems Private Limited which is India’s leading provider of software related to tax, compliance, and office solutions.
The success of any start-up and business depends upon what value you provide and what problem you solve. If these two things are at place, success has no stoppings in the real world.
WORKING AND GROWING MARKET OF THE COMPANY
myITreturn is easy to use the app, which has users from all over India and abroad, who choose this app to file their IT return which is always a burden of their mind.
Currently, it has more than 5 lakhs users with a retention rate of 80%. It makes the process very simple. It has its own software platform. The acknowledgment is sent within 5 minutes after filing the IT return.
The safety concern of users is totally taken care of.
“Nobody can force us to sell our data to anybody and we are not governed by any investors returns. Our objective is the servicing of our users.”, says its founder Saakar Yadav.
The app was one of the winners of the Aatmanirbhar Bharat App Innovation Challenge in the Others category.
The company claims on the safety aspect that their website is https and the security is equal to the bank-grade security. It was also being controlled and trusted by the income tax department as one of the first ERI (e-return intermediaries).
The app is also targeting the users who want to use it in vernacular. As of now, the app is available in English and other 9 Indian languages( Hindi, Bengali, Punjabi, Malayalam, Tamil, Telugu, Kannada, Gujrati, and Marathi).
UNIQUE SELLING POINTS OF THE APP
Some of the USPs of this start-up is:-
- The latest version of this app provides a robust way for income tax filing.
- It helps in dealing with income tax notice.
- It allows you to check income tax refund year wise.
- It can also generate form 12BB.
- You can also calculate advance tax liability, HRA( Housing Rent Allowance) by this app.
- Offers multi-language support.
- You can find the EMI amount to be paid for the loans you have taken.
NEXT STEPS OF THE COMPANY: ONE AT A TIME
The company plans to take it to the remote areas of India, and make it more adaptive to the vernaculars of the country. Currently, 60 to 65 percent of users are from urban areas.
They have also approached to the corporates to help their employees file their IT returns. Regarding the expansion, the company has other plans as well.
The company is also planning next to enter into the field of the ‘fin-tax” app platform.
The motto of the company, as told by the founder is, “Help every Indian file their IT return.” It is so simple yet so impressive. As filing IT return is a burden that no businessman and working-class want to suffer with. Making this process hassle-free will improve the scenario of doing business in India. That way, the country will also develop without any backlogs.