The moment one mentions of Tax Filing, we all pass that guilty smile. And the list of reasons behind it can be easily understood. The complex calculations, the paperwork; and after all, time is money, isn’t it! If only these factors would cease to be, our approach towards the Tax Filing would be much welcoming.
But, as they say, the time that we’re living in is the Box of Pandora from where innovative minds keep emerging. Quicko.com, for instance, is the result of such ground-breaking idea.
The Innovation:
“We aim to remove the complexity in filing Income Tax Returns”, says Vishvajit Sonagara; Founder, Quicko.com. It is a site that lets its users file Income Tax Returns online, and as it states, ‘It’s simple, fun and quick!’ The site provides service for various types of Income like Salary, House/property, Capital Income and Other incomes. Plus, you don’t have to spend a penny! On top of it, the site guarantees 100% privacy. Its simple User Interface lets the user file the returns in a matter of few clicks. Apart from all this, the entire process takes ‘less than 15 minutes’.
Isn’t it comforting to know that throughout your Filing process, there’s a virtual companion that makes sure that you don’t err in entering any of your important information? Even notifying you if you do so or, if possible, import most of your information on its own? Quicko.com is a site that does just the same. On top of it, you’re also provided with the overview of your entire filing process through graphics. “We help you to understand your Income breakdown, your Tax Breaks, any future tax saving opportunities and Tax liabilities in a non-clumsy way through charts.”- remarks Sonagara.
Founded in March, 2014, by Vishvajit Sonagara- a Technologist from Rochester University, backed by Anand Satyapanthi- a CA and Abhijit Sonagara- an MBA; Quicko.com is not just a virtual Tax-agent (who works for free, of course!), but also a little Encyclopedia of the matters of Taxation in India. Under the category of Resources, it lets the user know all that he/she wants to with its various blogs and an exclusive ‘Tax Dictionary’! It keeps you updated with the Tax Laws and the alterations in it.
The Vision:
Quicko.com aims to serve 50,000 tax-filers in the first year of its launch. Vishvajit Sonagara, after the experience of working with firms like Fidelity and Deutsche, realized the need for the same level of financial services to Indian consumers. Because of the complexity and certain other limitations of Government financial services and people’s mindset, there is a lot of scope for a truly innovative Tax-Filing service. In Sonagara’s own words, ‘The current landscape does not have a market leader, just a few entrants with varying experience, background, and user base.’
While such a work is in progress, the question of security is always nudging. Even the users may raise the issue of reliability. In such case, the Founder responds, “Our team has experience in working at the world’s leading financial institutions, so we follow some security standards; such as 256-bit encryption, multi-point verification, masked data etc.”
The Change:
By looking at the overall progress of this site, one may notice that it is not just the experience of filing the Tax Returns that these people want to change. It is the mindset of the people belonging to Indian economy that is the cardinal goal for them. #RightToPayTax and #ProudToPayTax are the gestures of fulfilling these objectives. Both the projects are conceptualised by Scarecrow Communications.
#RightToPayTax is a series of six films, featuring the leaders of various industries, urging the Indian citizens to pay Tax, as ‘it’s their Right, and not Responsibility.’ People such as Mahesh Murthy, Ayaz Memon, Bhagat ranga, K. V. Shridher, Roshan Abbas, Rahul Puri and Rajesh Kejriwal voice their appeal to the Indian audience in a non-preachy manner.
On the other hand, #ProudToPayTax is a series of eleven clips; each of them featuring a child taking pride on the fact that his/her father pays Tax. It directly triggers to the fact that one should pay Taxes for the betterment of the next generation. Also, setting an example to them that we can cause our prosper future on our own.
One can’t help but marvel at the fact that the mundane task of Tax-paying is turned so encouraging and inspiring. Quicko.com could be nothing else but the next step to a glorious future!
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