Indian Fintech Unicorn RazorPay Introduces Automated Tax Solutions for Businesses

The team at Razorpay asks whether you’re aware of what’s one of the things that’s quite common among all Indian startup founders and business owners.

According to Razorpay, they tend to struggle when managing tax and compliance payments. And, if you’ve just started your business, “chances are you’d be struggling with them too.”

The Fintech firm writes in a blog post that Indian startups “lose countless hours managing taxes including GST, advance tax and TDS payments manually.” But not anymore, the Razorpay team claims. They’ve shared how you can automate end-to-end tax payments for your business.

Automated Tax Payments tailored specifically for startups

With these solutions, there’s no more manual tax calculations needed, according to Razorpay. They allow you to automate TDS deductions and payments, “whether you are paying suppliers, contractors, or your employees.”

Easy one-click tax payments

With Razorpay, you can manage TDS, Advance Tax, and GST payments “all on one faster, more secure, and easy-to-use dashboard instead of multiple tax portals dashboards.”

You can finalize “on-time payments, every time.” You may schedule and “get timely reminders or enable auto-pay TDS, Advance Tax, and GST payments for your business.”

All challans can be taken care of in a single place. You may “access all your tax challans and send them to your finance team and CA directly from the dashboard,” the team at Razorpay explains.

This way, you can continue to “do what you love and leave your tax payments worries to [them.]”

You can now join 10,000+ businesses on RazorpayX and “focus on growing your businesses and never worry about tax and compliance payments, ever again,” the company claims.

In another separate update, Razorpay reveals that they have launched automated digital FIRC to streamline international payments for businesses.

As explained in the update, FIRC or Foreign Inward Remittance Certificate is “proof that your business has accepted a foreign payment from outside India into an Indian bank account.” It is “issued by an Authorized Dealer bank and is recognized by compliance authorities.”

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