In a bid to help new entrepreneurs navigate the maze of setting up a business, ClearTax, an Income Tax Returns e-filing website, has launched its latest product ClearTax Startup programme, a business platform that provides premium business services to entrepreneurs.
The company believes that people who want to start a business should be able to do so, without the “long, hectic process” usually involved in the process.
ClearTax Startup Platform is offering to launch a startup in 3 weeks with packages starting from Rs 19,999. This program helps new entrepreneur’s kick-start their idea with following services:
1. Early Stage Advisory Services: Covering Firm Structure, Registrations, Financing, Legal Compliances, Brand Protection, Eligibility and Benefits under government schemes
2. Business Incorporation: Incorporate the firm as a private limited company/LLP/partnership to help them raise capital for their business
3. Business and legal agreements: That permits the entrepreneur to do business
4. Tax Registration: That enables businesses to pay taxes to the government
Services delivered to startup will be done using ClearTax proprietary cloud-based platform and workflow management system which ensures visibility, transparency, timeliness and accuracy of service delivery by an expert at every micro-step.
Archit Gupta, Founder & CEO ClearTax.com said “As a founder, I personally faced all these issues even though my father is a CA. There were a lot of questions in my mind. Our team set to build out a product which we knew would help founders. Besides, setting up the business, we were confused about all tax registrations, payments etc. We also needed banking, payment gateway, web hosting, and office space to work in as well. Today, I am very proud that ClearTax Startup program covers many pain points of a Founder.”
Given that the entrepreneurs need services beyond tax and compliance to launch their business, ClearTax has partnered with the banks and service providers to become the “Defacto platform” for startups in India. The package offers a “Premium Business Kit” with special platform discounts offers which include the following:
1. Opening of Bank Account at Zero balance with the India’s largest banks such as HDFC, ICICI and Yes Bank
2. Getting Website Domain and Hosting with Big Rock
3. Accepting or Making Online Payments with RazorPay, Paytm and Instamojo
4. Workspaces for Business with 91 Springboard, BHive and Awfis
5. Business Tools & Applications - Google G Suite (Email, Documents, Search, Storage etc.)
The online portal is targeting 40,000 startups in 18 months and revenues around Rs 80-100 crore. “Close to 1.2 lakh companies are being registered every year with the ROC, and that we are targeting around 40,000,” Gupta said.
Recently ClearTax raised $15 million from marquee investors like SAIF Partners, Sequoia Capital, Max Levchin, Scott Bannister, Neeraj Arora, RuchiSanghvi and Naval Ravikant as investors.