Archit Gupta: Page 2
Founder & CEO, Clear
Clear (née ClearTax) is India’s leading Fintech SaaS company with the mission of simplifying finance. We are trusted by over 6 million Indians, more than 50,000 tax professionals, 1 million small businesses and 3,000 large Enterprises. For small and large businesses, our product suite covers invoicing, GST, range of managed services and credit. For tax professionals, we offer comprehensive GST, Income Tax and TDS solutions. For individuals, we offer tax and wealth management solutions. With this Series C round, we have raised $140 million in equity capital since inception. Our investors include Y Combinator, Composite Capital, Elevation Capital, Founders Fund and Sequoia Capital.
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With GST subsuming entry taxes and bringing standardization in tax rates, India will become tax neutral irrespective of location and no tax arbitrage will be possible.
Despite high hopes for a revamped section 80C, however, tax savings instruments remain untouched. The tax deduction limit under 80C remains 1.5 lakhs.
2017 is poised to be an exciting year for both taxation and the fintech space, Archit Gupta of Cleartax