In a significant move to democratize tax compliance, leading fintech platforms PhonePe and JioFinance have unveiled new income tax return (ITR) filing services. Both companies have partnered with tax compliance specialist TaxBuddy to offer plans starting from an exceptionally low price of ₹24, making digital tax filing more affordable for salaried individuals, freelancers, professionals, and small businesses across India.
Simplified Tax Compliance with TaxBuddy Partnership
Both PhonePe and JioFinance are leveraging TaxBuddy's expertise to provide a comprehensive suite of tax-related services. Users can choose between do-it-yourself (DIY) filing options or opt for expert-assisted plans for more complex financial situations. Beyond ITR filing, the platforms also integrate tax planning tools, deduction calculators, and support for Goods and Services Tax (GST) compliance, streamlining the entire tax management process within a single app.
JioFinance Reintroduces Tax Module with Rewards
JioFinance has relaunched its tax planning and filing module for the current assessment year, with DIY plans beginning at ₹24. A unique feature this year is the integration of its rewards ecosystem, allowing taxpayers to earn JioPoints worth up to 25% of their filing fees. These points can be redeemed for various shopping vouchers and partner offers.
"Our goal with JioFinance has always been to simplify complex financial tasks and give users complete control of their financial well-being. With our extremely accessible and affordable tax module, we are removing the traditional friction and high costs of ITR filing," stated Surbhe S Sharma, Chief Executive Officer, Jio Finance Platform and Service Limited.
The JioFinance module, developed with TaxBuddy, a registered E-Return Intermediary (ERI), provides guided filing, tax planning, and professional advisory. Users can compare old and new tax regimes, optimize deductions under Sections 80C and 80D, estimate tax liability, and track their return or refund status directly within the app, all while ensuring taxpayer data protection within TaxBuddy's encrypted framework.
PhonePe Integrates Dedicated Tax Filing Feature
PhonePe has also rolled out a dedicated 'Tax Filing' feature within its app, in collaboration with TaxBuddy. This feature offers self-filing plans from ₹24, expert-assisted options for intricate income profiles, and monthly GST filing services tailored for merchants and small businesses.
Niharika Saigal, Head of In-App Categories at PhonePe, commented, "By democratising access to expert tax advice and affordable filing solutions, we aim to empower our users—from salaried professionals to neighbourhood merchants—to manage their tax filing with ease and confidence."
The integration means users can manage both income tax and GST compliance without needing to navigate to separate tax filing websites, enhancing user convenience.
Comprehensive Expert Support and Industry Impact
Both platforms offer robust expert-assisted plans, where tax professionals help with computing tax liability, selecting the appropriate tax regime, filing returns, and even responding to income tax notices. Notably, JioFinance includes free notice management for returns filed through its expert-assisted plans.
These launches underscore a growing trend among fintech companies to broaden their services beyond payments and lending into comprehensive digital financial solutions. With the Income Tax Department encouraging online filing and millions of taxpayers preparing for the season, these affordable, app-based solutions are set to significantly simplify compliance and make professional assistance more widely accessible.