Jio Financial Services Ltd. has launched a tax planning and filing module on its JioFinance app, starting at Rs 24 for self-service options, intensifying competition in India’s online tax solutions market.
The feature, developed in partnership with TaxBuddy, offers both self-service and expert-assisted filing, as well as tools for comparing tax regimes, mapping deductions, and evaluating housing rent allowances.
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“With the deadline for filing taxes approaching, our goal is to remove the complexity that a lot of people associate with tax filing,” said Hitesh Sethia, MD and CEO of Jio Financial Services, adding that the service aims to provide “clear insights and transparent pricing.”
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The move comes as competitor Clear (formerly ClearTax) is trimming its staff. According to a report by Entrackr, Clear has laid off 20–25% of its workforce—around 145 employees—effective August 1, in a restructuring exercise that included several new hires and fresh graduates. The company confirmed a 16% reduction, citing broader strategic changes, and said it is providing enhanced severance, health insurance, and outplacement support.
Entrackr reported that the cuts come amid a cash crunch, with Clear unable to raise fresh capital since October 2021 despite a 93% jump in FY24 operating revenue to Rs 209.84 crore and a 59% reduction in losses to Rs 96.24 crore.
India’s peak tax return filing season is underway for the financial year 2024-25 (assessment year 2025-26), with the government extending the deadline for most non-audit taxpayers—including individuals, salaried employees, and Hindu Undivided Families (HUFs)—to September 15, 2025.
Edited by Affirunisa Kankudti
