Mastercard and ClearTax to simplify the ITR filing for Indian taxpayers

By Gloria Mathias

Mastercard and ClearTax have announced their collaboration to streamline the process of Income Tax Return (ITR) filing for consumers across India.

This association will combine Mastercard’s payment solutions with ClearTax’s seamless tax filing services, enabling taxpayers to have a safe, convenient experience.

As part of this collaboration, taxpayers using Mastercard-powered credit cards will be able to avail themselves of an exclusive 5% additional discount on ClearTax ITR Plans during checkout until December 31, 2024.

The Government of India allows income tax payments through credit cards to provide more convenient tax-paying options to citizens and promote digital payments. Paying income tax online with a credit card can be quick and convenient, allowing cardholders to choose a time of choice.

Credit card payments also generate an electronic record, making tracking and referencing tax payments easy. Further, cardholders can enjoy financial flexibility by meeting their tax obligations even when cash reserves are low.

Vikas Varma, Chief Operating Officer, South Asia at Mastercard, said, “Mastercard is committed to driving digital payment adoption in India. This collaboration with ClearTax will ensure a seamless and rewarding experience for taxpayers, providing them convenience and peace of mind.”

Mastercard credit card users benefit from robust built-in security features that make payments safe, secure, and simple. With an array of enhanced digital experiences, unique experiential benefits, and rich reward structures, Mastercard credit cards deliver everyday value and financial freedom to cardholders while helping combat fraud and cyber security risks.

Archit Gupta, Founder and CEO of ClearTax, said, “Our mission at ClearTax has always been to simplify financial lives for Indians. By teaming up with Mastercard, we can extend our expertise to a broader audience, helping Mastercard cardholders navigate the complexities of tax filing easily and confidently. This collaboration underscores our commitment to innovation and delivering exceptional user experiences.”

ClearTax offers a range of benefits, including an AI assistant for simplified tax calculations, prefilled data to reduce manual entry errors, and expert notice management services. These features ensure that consumers can file their taxes accurately and efficiently, regardless of their familiarity with tax regulations.