Bengaluru: Online income tax return filing platform Quicko has raised Rs 2 crore in seed funding from Rainmatter Capital , a fund that incubates innovative fintech ideas created by online stock trading startup Zerodha . The investment in Quicko will be the fifteenth such fund infusion for Rainmatter.The startup will utilise the capital to build out its income tax return filing service for the online trading community , with an integration that allows Zerodha customers to upload their P&L data and file their income tax returns. Quicko has already helped 11,000 traders file their income tax returns in the past one year.“This drastically brings down the cost, so much so that we’re able to offer tax filing for traders at Rs 2,500 as opposed to the Rs 15,000-20,000 that a chartered accountant would charge them in the traditional market,” said Vishvajit Sonagara, founder of Quicko. “Even though taxation is adjacent to our business, the first use case Quicko is trying to solve for is taxation of people who invest, so it syncs well with our objective.”Quicko is looking at helping 100,000 traders file their income tax returns this year and becoming a leading platform to cater to India’s 8 million-odd traders. The company is looking at a freemium model where individuals can file their own tax returns for free, but pay it a fee to import their financial and investment data.

Source: Economic Times December 30, 2019 13:41 UTC