ClearTax and Grip Invest join forces to simplify tax management for investors

Aims to deliver seamless and efficient tax filing solutions for modern investors, addressing their growing financial needs and enhancing their overall investment experience

India, July 18, 2024: In a significant move to empower modern investors who are making high-yield investments, ClearTax, India’s leading online tax filing platform, and Grip Invest, India’s largest high-yield investment platform, have joined forces to deliver a seamless and user-centric tax-filing solution.

This strategic partnership aims to address modern investors’ evolving needs by simplifying the complex income tax filing process and enhancing their overall financial well-being.

Recognising the growing need for simplifying the tax filing process amongst investors who are making investments in non-traditional assets, ClearTax has introduced support this season. Investors can now effortlessly declare their income and file taxes related to earnings from bonds, and SDIs like LoanX, InvoiceX, and other fixed-income investments offered by Grip Invest.

Now investors can manage their portfolios and file their income tax returns with unparalleled convenience and accuracy. Through seamless File Parsing, investors on the Grip Invest platform can upload their investment file to ClearTax, thereby eliminating manual data entry and reducing the risk of errors.

Key Highlights of the Partnership:

Seamless Capital Gains File Parsing: With this partnership, Grip Invest investors can effortlessly upload their capital gains statement in ClearTax, ensuring accurate tax filing. 1000s of transactions can be uploaded in seconds saving week long iterations for users

Complex use case handling: ClearTax supports users having investments in all kinds of asset classes including stocks, MFs, F&O, Bonds, Gold etc. The product has in-built automations to handle complex calculations like tax-loss set-off and indexation

Maximum Tax Savings: ClearTax’s advanced tax optimization tools will help Grip Invest investors identify and claim all eligible deductions and exemptions, maximising their tax savings and enhancing their overall investment returns.

Secure e-filing: ClearTax’s secure e-filing platform guarantees the safety of Grip Invest investors’ financial data while providing a smooth and efficient tax filing process. Investors can file their ITR with confidence, knowing their information is protected.

Professional Guidance: ClearTax also offers access to a team of experienced tax professionals who will assist Grip Invest users in navigating and complying with tax regulations associated with their investments.

Exclusive discounts: Grip Invest investors can enjoy exclusive discounts on ClearTax’s premium tax filing services, making high-quality tax assistance more accessible.

Sharing his views on the partnership, Mr. Archit Gupta, Founder and CEO, ClearTax said, “At ClearTax, we are committed to making financial management effortless for our users. Our partnership with Grip Invest is a significant step towards that goal, providing investors with a streamlined and user-friendly tax filing experience. We will leverage our expertise in tax solutions to empower Grip Invest users to focus on building their wealth without the hassle of complex tax processes. As a leader in the category of providing high-yield investment options, we’re excited about the possibilities that lie ahead in terms of driving convenience for Grip Invest consumers”

Commenting on the announcement, Mr. Nikhil Aggarwal, Founder and Group CEO, Grip, stated, “At Grip, customer centricity is at the heart of everything we do. We noticed that our users were experiencing a pain point around filing of taxes for investments made towards Bonds, SDIs and other high-yield investment assets being offered on Grip Invest. Encouraging investors to focus on wealth creation instead of tax complexities propelled this partnership with ClearTax. By streamlining tax filing, ensuring secure data transfer, built-in automation unearthing every deduction and exemption, we are one step ahead in driving a seamless and convenient experience for our users at Grip Invest.”