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Launch · Financial Services

PhonePe launches tax filing feature in app

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PhonePe logo
Date
Company
PhonePe
What it does
Digital payments and financial services platform
Kind
Launch
Sector
Financial Services

What they do

PhonePe is a digital payments and financial services platform used by one in three Indians

What happened

It launched a tax filing feature for ITR and GST, co-developed with TaxBuddy, starting at Rs 24

Why it matters

The move adds tax compliance to PhonePe's existing suite of lending, insurance, and investment services

The details

  • PhonePe launched a Tax Filing feature for ITR (income tax return) and GST (goods and services tax) filing within its app.
  • The feature was co-developed with TaxBuddy, a digital tax compliance platform.
  • Self-filing of returns starts at Rs 24.
  • Expert-assisted tax filing plans are also available.
  • Monthly GST filing is offered for small merchants.
  • PhonePe already offers lending, insurance distribution, stock broking, mutual funds, and an app store.

The bigger picture

  • PhonePe is expanding its financial services beyond payments and investments into tax compliance.
  • The partnership with TaxBuddy lets PhonePe offer tax filing without building the expertise in-house.
  • Adding tax filing could increase user engagement and stickiness on the platform.

About the business

  • PhonePe is a UPI payments and financial services platform.
  • It offers UPI Lite, Credit Line on UPI, RuPay CC on UPI, Split Expenses, Gift Cards, and UPI Circle.
  • PhonePe International enables UPI payments in Singapore, UAE, Nepal, Sri Lanka, Bhutan, and Mauritius.
  • Users can buy gold from Rs 5, start a Gold SIP from Rs 100, and contribute to NPS.
  • PhonePe provides offline merchant solutions (POS, partner program) and online payment gateway, payment aggregator, and payment links.
  • It offers merchant lending and PhonePe Ads.
  • PhonePe has co-branded credit cards: PhonePe SBI Card, PhonePe HDFC Bank Credit Cards, and Wish Credit Card.
  • PhonePe Pulse tracks transaction data across India.
  • PhonePe claims one in three Indians uses the app.

The deal

Type
launch

Founders

  • Sameer Nigam, Founder
  • Rahul Chari, Founder

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