The facilitator of payment services that included prepaid mobile phone bills online, DTH and data card recharge, postpaid bill payment, NH-8 toll-card recharge had recently added Bus Booking too to its options. As if that was not a peculiar option for a site known to offer bill payment, recharge & top-up options, chose to add a facility of Filing Income Tax Returns via the same site.
How it works: Indians who are now fairly familiar with the IT Returns filing process won’t have any difficulty working with the site to get the IT returns filed. Cleverly, the company hasn’t developed the feature from grounds-up, but rather tied-up with New Delhi-based ClearSharp Technology Pvt Ltd. This company already focuses on online IT filing with its own website ClearTax.in. Hence it appears, Paytm will leverage its appeal & popularity to extend this service to its present subscribers.
To gain traction, Paytm isn’t charging any fees for the time being. Upon registering on the site with one’s email ID, a password is sent & that’s enough to get started. The process is fairly straight forward, wherein the user is asked to fill-in the relevant details &/or upload the Form 16.
The section offers a few nifty features like clear demarcation of income sources & corresponding deductions thereby simplifying the process for newbies. But what elevates this offering from other sites, is the ability to file Income Tax Returns for more than one person using the same log-in credentials. This allows a single person to actively file returns for multiple people, offering a unique opportunity for experts to assist other individuals.
Paytm.com had been spreading its wings with newer initiatives in the recent past. Not too long ago it had added Real Time Bus Tracking facility that could be considered an industry changing, since it added a new dimension to the online Buss Booking service. Interestingly, the company could have halted its development by merely adding the option to purchase, but it chose to go forward.