A

Training Report
Titled
‘Fintech SECTOR IN INDIA ’
With refer to All India ITR
For the training undergone at

All India ITR

For the partial fulfilment of the award of the MBA- 5yr(IPOP)
Submitted By:
Jatin
Class: 5th Sem
Regn. No: 16-UIM-11
Batch: 2016-2021
Institute of Management Studies,
Kurukshetra University Kurukshetra
CERTIFICATE
 DECLARATION

This is to declare that the report titled ‘Fintech Sector in India’ has been made
for the partial fulfilment of the Course: Summer Internship Programme (SIP) in
Semester 5th by me at All India ITR under the guidance of Mr. Bapi Das. I
confirm that this Report truly represents my work undertaken as a part of my
Summer Internship Programme (SIP). This work is not a replication of work
done previously by any other person. I also confirm that the contents of the
report and the views contained therein have been discussed and deliberated with
the faculty guide.

Jatin
CLASS- SEM 5th
ROLL-NO: 48
BATCH: 2016-21
 ACKNOWLEDGEMENT

Management is a profession where in no work can be accomplished without the

help and assistance of a large number of people, it your superiors or
subordinates. A good manager is the one who knows how to get the work
accomplished with the help of his colleagues. As future managers, we are taught
to practice such behaviour at every step. This project is also a part of it.
I would like to thank to the Director of our Dept. Prof. B.S. Bodla for providing
me with this great opportunity to do the summer internship and to choose my
own topic of interest.
All have been profoundly instrument in marking the project undertaken the
source of knowledge providing all the support and necessary guidance.
I express my gratefulness to Mr Vikas Dahiya (Director of ALL INDIA ITR)
for giving me the opportunity to work with their company and learn.
A special thanks to Mr Bapi Das (Mentor) for makinug me capable of working
in corporate and providing me the opportunity to associate with the project.
I hope that I can build upon the experience and knowledge that I have gained
and make a valuable contribution towards the industry in coming future.

Jatin
CLASS- SEM 5th
ROLL-NO: 48
BATCH: 2016-21
 CONTENTS
CHAPTER TITLE OF THE CHAPTER PAGE

NO. NO.

1. FINTECH SECTOR IN INDIA

1.1 INTRODUCTION

1.2 MAJOR PLAYERS

1.3 GROWTH OF FINTECH IN INDIA

1.4 FACTORS SUPPORTING FINTECH

GROWTH IN INDIA

2. ALL INDIA ITR

2.1 INTRODUCTION

2.2 ORGANIZATIONAL STRUCTURE

2.3 OUR COMPETITORS

2.4 PRODUCTS OR SERVICES

2.5 ALL INDIA ITR IN THE NEWS

3. TRAINING WORK
3.1
OPERATIONAL WORK
3.2
COMMUNICATION WITH THE USERS
 3.3 IMPROVEMENTS IN THE APP

3.4 INCOME TAX FILING

4. FINDINGS OR SUGGESTIONS

5. CONCLUSIONS

6. LEARNING FROM THE TRAINING

7. REFRENCES
 CHAPTER 1: FINTECH SECTOR IN INDIA
1.1: INTRODUCTION

A wide gamut of Fintech sub-sectors have emerged and have been adopted by
key players of the financial sector globally. The Indian financial services sector
has embarked upon its digital journey and is catching up fast with its global
peers in terms of adoption. Multiple Fintech hubs have evolved across the globe
―the U.S., the U.K., Israel, Singapore, Hong Kong and Sydney to name a few
―which may well serve as a yardstick of Fintech evolution for the emerging
markets.

This report from KPMG in India and NASSCOM 10000 Start ups intends to
highlight leading practices and serve as a guide to strengthen India’s position in
the global Fintech landscape. The report outlines the Indian Fintech ecosystem
with its stakeholders, growth levers and their impact, against global
benchmarks, key insights & actionable recommendations.

India, a country with over 1.3 Billion population, is moving towards a

revolutionary Tech-Finance alliance. This collaboration between finance and
technology is upgrading the way transactional operations are handled.
Basically, Fintech is the amalgamation of technology in finance that offers more
effective financial solutions than traditional institutions.

Initially, Fintech started its trial by setting its operating base in the banking

industry. But over the last five years, it has seen tremendous development and
has expanded to insurance and asset management companies as well. By
leveraging machine learning, Fintech companies are looking to analyze
customer expectations and their responses. This will create the ability to
forecast demand and provide customized supply services through technology.

The Evolution

For a high cash concentrated economy like India’s, the first major shift towards
electronic means of managing money began in the early 1990s with the
introduction of EFTs. Citizens gradually opened up towards adapting
Fintech services in their daily lives. Eventually, mobile phones and the internet
started to replace conventional financial transactions. This activated the shift to
a more advanced and fast-paced economy. Now, new business propositions are
emerging from the growth of Fintech.

Catalysts of Fintech Success in India

There are multiple stakeholders that have led to the success and growth of this
industry within the Indian economy. Some of these stakeholders are:
Banking Sector:

Banks have actively been supporting technology platforms such as e-wallets

from the very beginning. The reason is simple, they provide smoother back-end
operations and customer-friendly services. Some banks are taking it even
further by collaborating with start-up Fintech organizations to provide better
financial services.

Another way the banking sector is promoting the Fintech industry is by

adopting its innovations. One major example of this is block chain. A path-
breaking system that is used to store large ledgers of data virtually, block chain
is one of the key trends in India today. By shifting the entire gamut of data
storage online, block chain technology will eventually replace the traditional
methodologies of making payments, lending funds, and updating KYC
documentation. There will no longer arise a need for human intervention to
process regular financial transactions.

Start-Up Companies:

In a developing nation like India that encourages innovation, Fintech start-

ups have a great potential for expansive growth. Start-up companies are paving
the way and creating initiatives towards digitizing India. With the recent
demonetization that encouraged citizens to go cashless, the digital movement
has transformed into a reality.

One obstacle for start-ups, however, is their need to prove to regulatory bodies
that their software or service can actually benefit the society and uplift the
existing economy. Currently, across segments, there are over Fintech Startups in
India that could potentially improve quality and make financial services more
cost-effective.
Government Bodies:

It is not an easy task to keep up with the rapid technological updates taking
place in a financial industry. However, the Indian Government has not only kept
pace but has also created an initiative called ‘Start up‘ and has provided a
dedicated fund of USD 1.5 billion to support upcoming and innovative Indian
startups.

Another example is UPI, Unified Payment Interface, which is a system set up

by the Government of India. UPI channels multiple banks accounts into a single
mobile interface in an attempt to unify the citizens towards the ‘cashless India’
motive. Further, the National Payments Corporation of India is soon going to
launch UPI 2.0. This revised app has additional features such as increased
transfer limits and promotion of merchant transactions. Compared to its
predecessor, enhanced security, and a user-friendly interface are two major
modifications that the 2.0 offers. It is an admirable fact that the Government has
constantly been standing behind every move and has been diligently supporting
the Fintech revolution.

Similarly, RBI came up with a peer-to-peer (P2P) lending scheme in 2016 that

uses crowd funding as a base to raise funds between borrowers and lenders
within India. At present, there are 30 peer-to-peer lending companies in our
country that bring individuals together on a common platform.
 1.2 MAJOR PLAYERS
Here is a list of top Fintech companies in India that participated in this
program:

1) Shiksha Finance

Shiksha Financial is an education lending company offering financing for low-

income students and the educational institutions that provide education to those
students.
Parents can obtain loans to help finance their children’s education. These loans
range from Rs.10,000 – Rs.30,050 $150 – $450) and must be paid back in 6-10
months. Loans may be used for tuition payments, books, uniforms, or living
arrangements. Repayment will be linked to an individual’s cash flow. Private
schools can obtain secured loans against assets or unsecured loans for urgent
needs. These loans can range from Rs.1Lakh – 73.5 Lakhs (—$1,500 –
$110,000) and the life of the loan can range from 6 months to 5 years.

2) Catalyst Labs

Catalyst Labs is a mobile software platform to connect small-scale suppliers in

aggregate with agricultural bulk buyers, verifying the variety and grade of the
product and assuring quality control to bulk buyers. Catalyst Labs reduces the
dead weight loss generated by India’s convoluted network of middlemen
between farmers and the market.

Catalyst Labs has created a mobile app for farmers that gives them access to
Catalyst Labs’ network of bulk buyers. This saves farmers the ability to
negotiate directly with bulk buyers by aggregating small suppliers together to
bypass India’s numerous middlemen. Farmers designate a leader that registers
with Catalyst Labs through their Aadhar number and inputs all goods to be sold.
The goods are then placed on a digital market accessible to Catalyst Labs’
network of buyers. Once a purchase has been made, Catalyst Labs verifies the
quality of goods sold before they are delivered.

By linking individuals and businesses to the Aadhar network, Catalyst Labs also
provides accountability to producers and more
consistency to bulk buyers.
 
3) Profitbooks

ProfitBooks is a simplified cloud accounting software designed for the average

non-accountant business owner and for accountants in small organizations. It
offers tools to create beautiful invoices, record business expenses, track
inventory and calculate taxes saving businesses 240 hours each year.
ProfitBooks is growing fast in India and it had 6000+ companies on its platform
in Dec 2015. Apart from India, ProfitBooks is increasingly being used by
businesses from emerging markets such as Middle East, Singapore, South
Africa and Sri Lanka.

Modern businesses like technology startups and eCommerce marketplace sellers

prefer ProfitBooks for its simplicity and automation. They have recently
integrated payment gateway to help their customers get paid faster.

4) Kyash

Kyash is an online payment gateway enabling e-merchants to accept cash

payments.
Kyash provides a payment gateway for ecommerce providers which allows their
clients to collect cash up front before delivery. Consumers select Kyash as their
form of payment at checkout and are given both an eight-digit code and a list of
nearby outlets where they can pay in cash. When they go to a nearby location,
usually a convenience store, they give their code to the cashier and pay the
required amount. The online merchant is notified immediately via an API that
the payment has been made and the order is processed.

5) GyanDhan

GyanDhan is a student lending platform creating a unique approach and a new

way of evaluating Students’ credit based on their potential.
GyanDhan evaluates credit-worthiness for talented students by using academic
records, IQ scores, target institutions, and other factors in conjunction with
traditional determinants of credit quality. In contrast traditional methods rely
heavily on credit history and available collateral, which when used as the sole
basis for lending decisions, disadvantages and undervalues young borrowers.

Once the process is complete, GyanDhan suggests the optimal terms for each
student on their platform, allowing institutional and individual investors to
review and bid for students they want to fund. Further, to address the financial
institutions’ concern of willful defaults by internationally mobile students,
GyanDhan has developed a structure for cross-border credit reporting of loans.

6) StoreKey

StoreKey is a bulk buying program that aggregates the demand of kirana stores
(small retailers), bringing them better prices and regular deals, with a long term
focus on digitizing these stores. StoreKey provides a mobile application where
kirana store owners can aggregate their procurement orders with other local
retailers, creating greater shipping efficiencies and market power for smaller
stores when negotiating with fast-moving consumer good (FMCG) wholesalers.
 

7) HummingBill

Hummingbill is a Gmail extension that sends automated reminders, increasing

on time-collection rates over 25% for services companies and product
suppliers/distributors.
The Gmail extension modifies users Gmail Inbox so there is a “Accounts
Receivable” and “Accounts Payable” dashboard within their email. This
interface fits into their existing workflow and replaces the excel spreadsheet
they would otherwise use to manage their Accounts Receivable and Accounts
Payable.

8) ftcash

ftcash is a mobile app that allows smafl cash-based merchants to gain access to
digital payments systems.
Ftcash has created a digital payments platform that is easy to use, targeting
merchants who are still offline. The iOS and Android friendly apps allow
payments for both customers and merchants. Through the app, a customer can
find a merchant, make an order, and once the order is processed, enter credit or
debit card information into the app to make the payment.

Furthermore, the product allows for customers to find merchants specific to

their needs whether that is grocery goods, catering needs, or one of many other
possibilities. The merchant can also pay bills through the platform, offer
incentives like coupons and rewards to loyal customers, and advertise their
service.
 

9) FineTrain

FineTrain is a credit-enabling platform for small businesses, providing lenders

with bulk leads supported with accurate business data, which helps lower their
due diligence costs.
FineTrain provides a transparent lending platform that allows SMBs and
financial institutions to connect. Upon registration, SMBs provide income
patterns, past credit history, compliance readiness, and business vintage.
Eligibility is then assessed using data-driven analytics specific to the SMB’s
particular industry.

If they are eligible for a loan, FineTrain selects the right funding partner among
banks or non-banking financial companies (NBFCs). FineTrain underwrites a
part of the risk by way of a non fund based instrument to provide credit
enhancement on the loans it is recommending to lenders.

 10) AirtimeUp

AirtimeUp provides a simple and 2G native application where the village-level

retailer can top-up mobile phones or Direct to Home (DTH) accounts of the end
users in 60 seconds or less. The AirtimeUp platform has integrated with a
renowned carrier aggregator which provides 100% coverage to all mobile
operators in India.
The village-level retailer recharges balances in a web-based application called
“AirtimeUp Wallet” as needed and uses the balance to disburse minutes to the
end user’s mobile phone or DTH accounts instantly.
 1.3 GROWTH OF FINTECH IN INDIA
In the first decade of the 21st Century, Fintech referred to computer technology
applied to the back office of banks or trading companies. It was used as a
portmanteau of financial technology for describing any emerging financial
services sector. Now, the term has evolved to include any technological
innovation in the financial sector, ranging from financial literacy and education,
retail banking, investment to crypto-currencies like bitcoins.

In the current decade of the 21st Century, Fintech is being defined as a financial

institution that makes use of technological innovation to perform multiple
business tasks ranging from the creation of digital money to double-entry
bookkeeping. With the internet revolution, followed by the mobile revolution,
financial technology has grown massively alongside and therefore evolved to
include a broad variety of technological interventions into personal and
commercial finance.

Nowadays, in India especially, Fintech is a startup trend that is upsetting the

structured format of traditional financial companies such as banks, mobile
payments, money transfers and asset management. Moreover, in a world that is
increasingly reliant on technology, it is only fair to say that the Fintech sector
still has lots of growth potential ahead. Indeed, investors do realize the
opportunities and market size of the Fintech sector. In 2008, global investment
into the Fintech sector stood at around $900 million and this figure stood at $27
billion in 2017.
 Global Investment in Fintech tripled in less than a decade

In 2015 alone, above 12,000 startups emerged in the Fintech sector globally.
The industry is very much likely to keep growing in that upward trajectory and
analysts and experts project the Fintech software and services sector to be worth
$45 billion by 2020 at a Compound Annual Growth Rate (CAGR) of 7.1%. In
India, experts predict the Fintech market to reach be worth $2.4 billion by 2020
which is double its worth of 2016 that stood at $1.2 billion.
 Fintech Market worth is expected to double coming 2020

Fintech in India

The Indian economy is famous for being cash-driven and the Fintech sector
took advantage of this market state to provide various options in a bid to engage
individuals in relying on Non-Banking Financial Companies (NBFC) for
services such as e-wallets, lending and insurance, etc…

India constitutes a flourishing market for Fintech companies, driven by a deep

smartphone penetration surge that went from 53% in 2014 to 64% in 2018. The
financial services market is also relatively open to be conquered as almost 40%
of the population do not have a bank account and over 80% of money
transactions are carried out in cash. Therefore, several Fintech startups can
receive considerable market shares in the different sub-categories of the market.
 1.3 FACTORS SUPPORTING FINTECH GROWTH IN INDIA

There are lots of factors that contribute to the development of Fintech start up
culture in India. First of all there’s the fast developing digital pace in India. For
example, the number of internet users is set to cross the 500 million users
milestone in June 2018 and stood at 481 million in December 2017 which
represented an 11.34% increase over the December 2016 figure.

Similarly, the number of smartphone users in India saw a sudden surge over the
past 3 years. Credits to the cheap and affordable smartphones that surfaced on
the market along with affordable data plans, the number of smartphone users
went from 199 million in 2015 to 378 million in 2018 and users are now ever-
more reliable on their smartphones for services, including financial services.

The number of smartphone users have been on a constant rise

Additionally, the government of India is also fiercely promoting a digital
revolution in the country by proposing schemes such as ‘Digital India’ as well
as promoting financial inclusions in schemes such as ‘Jan Dhan Yojana’ which
aims in providing a bank account to every citizen. Opportunities also arise from
the government’s bio-metric identification database, Aadhar card which
contains information from over 1 billion Indian citizens which can be used as a
simplified verification step for customers.

Taxes and regulations

The government is also pushing forward in facilitating the switch to digital

financing services when the RBI came up with a new set of guidelines in 2014,
which relaxed the rule of Know Your Customer (KYC) for customers carrying
out transactions of Rs 20,000 monthly on digital platforms. Under this new law,
customers can download e-wallets and use its services for ticket booking, bills
payments without the need of producing official documents or photographs.

In April 2016, the government introduced a consultation paper that categorized

peer-to-peer (P2P) lending platforms as NBFC. P2P is a form of
crowd funding whereby loans are raised from groups of individuals that are set
to be paid with interest. The platform sets the rate of interest or the borrower
and lender can mutually agree upon a rate.

Additionally, the Unified Payments Interface (UPI), which is a real-time

payment system developed by the National Payments Corporation of India
facilitates transactions between different banks. The interface, which is
regulated by the RBI, works by instantly transferring funds from one bank
account to another through a mobile platform. The facility came into the market
in April 2016 and witnessed a sudden surge in the volume of transactions on the
interface. In 2016-17, the volume of transactions stood at 17.86 million
amounting to INR 69.47 billion and in 2017-18, the volume of transactions
skyrocketed to 737.18 million amounting to over INR 856.59 billion.

Funding in the Fintech Startup

Data shows that Fintech funding amounted to 21.47% of the country’s total
startup funding rounds across every market during the first quarter of 2018,
making it the industry most likely to receive any sort of funding in India. The
market raised over $251 million of funding during 2018 Q1 period.

Fintech is the sector that attracted most funding in 2018

However, the ease of raising funds in the sector is also influenced by a

significant burn rate, which is a matter of concern in a country where the sector
is still emerging and therefore needs guidance. A study from Yes Bank which
studied over 611 fintech companies including 123 overseas companies over the
period of 3 months revealed that despite support from the government, low
regulatory understanding remains a challenge for these startups.
 CHAPTER 2: ALL INDIA ITR

2.1 INTRODUCTION
Core White Solution Pvt. Ltd. Founded in 2017, All India ITR is a one stop e-
filing platform to make tax filing hassle free for individual taxpayers as well as
businesses. The way they have amalgamated taxation with technology is
commendable.
A close concern of Core white Solutions Pvt. Ltd, All India ITR is about
offering high-end financial services to its customers, as they aim at providing
accurate solutions to the tax related issues of their customers. Their focus is to
change the way citizens of India look at taxation and create awareness among
them about the same.
The great team of diligent associates with outstanding business acumen at All
India ITR are on their toes towards helping clients with correct Income Tax
Return e-filing guidelines. They provide CA Assisted services, where the Tax
Experts take care of each client personally and make tax filing an easy process
for them.
The company’s services are not limited only to ITR filing process, they also
offer assistance with various taxation guidelines, that are mentioned in the
Indian Taxation System. They specialise in accounting, audits, tax and ROC
returns, business and asset valuation and, business process outsourcing.
They have incorporated the use of automated system calculation in all their
services to assure 100% data accuracy thus, providing a simple and quick way
to file Income Tax Return.
 ALL INDIA ITR
All India ITR is about providing excellent services towards affordable online
tax return filing solutions for individuals and businesses. They believe in using
technology to attain accuracy that walks towards excellence and their service
line is built with this thought. They are working to break the myth of tax return
filing process that it is a time taking and hard procedure which is mandatory to
complete.

They have got what you exactly need to make tax return filing easier, they have
built their filing system with the latest technology which has made it simpler
and user-friendly that you can find nowhere else. They assure that minimum
time spent for filing Income Tax Return to get a maximum possible refund.
Whether, you have a Form-16 or not, you are welcome to file your tax return
with their digital system. They are authorised e-return intermediary and we
guarantee our users of authenticity. Our service ranges not only target individual
taxpayers but also are designed for the business owners.
Our automated system that is well designed to do all calculations with our
modern income tax calculator for you by assuring 100% data accuracy. We
serve the delight of the simple, accurate and quick process to file an income tax
return to break the traditional concept of ITR filing. Our team of highly trained
associates is dedicated to serving you with the correct e-filing guidelines and
filing process. Our services are not limited only to ITR filing process, but we
also offer assistance with taxation guidelines prescribed in the Indian Taxation
Laws.
We are a close concern of Core white and provide tax return filing services with
our easy e-filing system. It is about offering high-end technical services to build
reliable and secure web tools and applications. Services in here are built to
deliver efficiency and accuracy to users and the associates are working to
realize this vision. This organization’s sister concerns are working on a shared
platform that has the same views of delivering accuracy with utter efficiency.

Mission statement
To simplify the taxation process for the common individual.

Vision statement
To empower every individual towards digital online tax-return filing.

Abstract
Income Tax Act, 1961 governs the taxation of incomes generated within India
and of incomes generated by Indians overseas. This study aims at presenting a
lucid yet simple
understanding of taxation structure of an individuals income in India for the
assessment year 2013-14.Income Tax Act, 1961 is the guiding baseline for all
the content in this report and the tax saving tips provided herein are a result of
analysis of options available in current market .Every individual should know
that tax planning in order to avail all the incentives provided by the Government
of India under different statures is legal. This project covers the basics of the
Income Tax Act, 1961 as amended by the Finance Act,2007 and broadly
presents the nuances of prudent tax planning and tax saving
options provided under these laws. Any other hideous means to avoid or evade t
ax is a cognizableoffence under the Indian constitution and all the citizens
should refrain from such act.
 2.2 ORGANIZATIONAL STRUCTURE

DIRECTOR OF THE FIRM

Mr Vikas Dahiya

GENERAL MANAGER
Mr Nayab Shahjad

MARKETING MANAGER & STRATEGIC ALLIANCE

Mr Bapi Das

HR MANAGER
Miss Pallavi Sharma

OUR CA EXPERTS
Mr Arun Sheoran
Mr Sachin Sinha
Mrs Neha Aggarwal
Mr Siddhant Sharma

CONTENT WRITER
Miss Riya Das

IT TEAM
Mr Manish Mishra
Mr Harbeer Chouhan
Mr Rohan Sharma
Mr Arun Verma
 APP DEVELOPER
Mr Amit Kumar
Mr Anmol Kumar

INTERNET MARKETERS
Mr Rohit Kumar
Mr Ankur Jain
 2.3 OUR COMPETITORS
1. ClearTax
ClearTax helps individuals like you and me e-file our income tax returns. All
you have to do is log on to ClearTax and upload your Form 16. We will prepare
your income tax return for you automatically. We promise that the whole
process will take no longer than 10 minutes. ClearTax is in the unique position
to shape the future of India's financial software. Software and experiences
designed by us will determine how Indians e-File, save on their taxes, invest
and lead simplified financial lives.

2. MyITreturn
MyITreturn is an authorized e-return intermediary registered with the Income-
tax Department, Government of India. It was started in the year 2006 and is a
subsidiary of Skorydov Systems Private Limited which is India's leading
provider of software related to tax, compliance and office solutions. MyITreturn
has users from all over the country and many from outside India who prefer to
use myITreturn.com to file their tax return with ease. It is a project built on the
idea to make the ever increasing tax filing headache a thing of the past. The
website is very easy and intuitive to use.

● We have developed the pilot Return Preparation Utility (RPU) for GST

pilot. This was developed to test the GST pilot system. 
 ● We own and manage the Central Data Processing Centre (CDPC) of
National Judicial Reference System (NJRS). A project under the Income-
tax Department, Ministry of Finance, Government of India. (In
consortium with NSDL e-Governance Infrastructure Ltd.)
● The first Income-tax return in India was filed using our software. We had
developed this software for the Income-tax Department.
● We are registered e-Return Intermediaries of the Income-tax
Department for filing of Income-tax Return. 
o We presently help over 2 million users calculate, pay and file their
tax return using myITreturn.com
o We also help over 200,000 users calculate, pay and  file their tax
return using our mobile App for Android and iOS. Interestingly,
users also have an option to use our services in over 9 Indian
languages and English. (Hindi, Gujarati, Marathi, Tamil, Telugu,
Kannada, Malayalam, Bengali and Punjabi)
o We assist over 10,000 professionals and companies file their tax
return using our portal STACOS.com

3. Tax2win

We strongly believe that best professional services should be available to

everyone. We pride our self on saying we are “India ka Tax Expert”.
We not just take care of our client's taxation needs but are committed to our
mission of educating the masses about taxes to end their fear associated with
taxes to make a winning experience for all.

What sets us apart??

 ● We Care:
Nothing is more important to us than the fact you get the benefit of
every tax provision you deserve.
● Quality in everything we do:
We check and double check everything to ensure you file accurate returns
and get maximum refunds.

● Expertise:
Our expert CA’s browse through hundreds of tax provisions to ensure you get
the maximum refunds

● Personalised Experience:
We ask simple questions about your income and then personalize your tax filing
experience.

● We speak the plain language:

Tax is difficult to understand. We're here to help you understand what's best for
your tax health.

● Most Accurate Algorithms :

Tested by hundreds of Chartered Accountants, Data validation check in each
field, 99%® data import facility.
 2.4 Products and Services

Our Services

The chartered accountants at All India ITR are seasoned professional with years
of experience in guiding businesses with all matters related to Book Keeping,
Audit, ROC Returns, Tax Returns, Digital Signature and Incorporation of
Business. Focused on achieving the best possible standardized operations, we
adhere to providing impeccable solutions and valuable consultancy to our
clients on all financial aspects.

All India ITR is specialized in executing internal management of audits of

business entities of any scale.

There are following user-friendly oriented services to serve our clients better:

Accounting Services
Timely and accurately providing financial services to the clients is a duty that
All India ITR is committed to. Updated and meticulously organized financial
records are highly effective in ensuring that businesses are operated with
efficiency, which is why we provide the total range of cost effective accounting
services.

Bookkeeping
The procedure of recording a business’s financial transactions in an accounting
system and then creating reports for verifying the accounting data which is
 entered in the system is known as bookkeeping. Many small businesses do not
have a dedicated accounts department; this is where All India ITR comes in.

● Balance Sheet: We provide our clients with financial statements, which

summarize the company's assets, liabilities, and their shareholders' equity. This
helps in giving the investors an idea about what the company owns or owes,
including the amount that the shareholders have invested.

● Profit & Loss: The P&L service helps a company determine the profit and loss
through a statement reports which includes details on the company's revenues,
expenses, as well as the gains and losses which took place during a specific
time.

● Bank Reconciliation: All India ITR also performs bank reconciliation process
for companies to ensure that all the records of your company (inclusive of the
check register, general ledger account, balance sheet etc.) are error-free and we
also checks if all your bank’s records are correct.

Tax Services

We are equipped with services for all tax needs aimed at providing seamless,
hassle-free solutions across the board.

Our team of experts is always updated on the latest and current tax law
practices, which allow us to identify the best approach to tax planning
opportunities, reducing your tax liability. We provide the client with taxation
consultancy that include:

● Direct tax – Taxes such as Income Tax and TDS, that are paid directly by
organizations or individuals to the imposing entity.

● Indirect tax – Under GST Act, every registered person must periodically
furnish the details of sales and purchases along with tax collected and paid
thereon, respectively, by filing online returns.
 Legal Compliance
Incorporation of Business
All India ITR offers services to businesses for getting legitimately set-up. We
provide registration procedure and the steps for obtaining:
● Incorporation of Proprietorship
● Incorporation of Partnership
● Incorporation of Company

Digital Signature
The digital signature verifies the authenticity of the signer as well as of
documents. Simply put, a digital signature authenticates the electronic
documents in a way like a handwritten signature in printed documents which
states its originality.

Changes performed on the document after it is signed refute the authenticity of

the signature, protecting the owner of the Digital Signature from forgery and
tampering of original information.

● Class II: Class II DS is usually used for filing documents such as Income Tax,
Registrar of Companies etc.

● Class III: Class III DS is required during the e-tendering process, which is done
online.

ROC Returns
The designated authority, Registrar of Companies (ROC) is the authority that
deals with the administration of Companies Act 2013 which comes under the
Ministry of Corporate Affairs. Under the Companies Act, 2013, all companies
that are incorporated must file forms, returns, and documents with the Registrar
of Companies online, within the prescribed time along with the fees.
 To avoid penalties and fines, it is mandatory to comply with all compliances
applicable to your company. At All India ITR, we provide specialized services
such as:

● DIN Forms: Director Identification Number or DIN is a unique identification

number allotted to a potential or an existing director in an incorporated
company.

● Annual Filing: All companies incorporated under the Companies Act 1956,
must mandatorily file a specified set of eForms with the Registrar of Companies
(ROC).

● Compliances: All incorporated companies and LLPs are mandatorily advised to

file online forms, returns, and documents with the Registrar of Companies
within a specified time and submit the specified fee.

Audit

All India ITR performs audit on the financial report of an organization which
includes a balance sheet, an income statement, a statement of changes in equity,
a cash flow statement, other explanatory notes etc. We cater our clients on the
following factors:

● Statutory Audit: It is a legal requirement to authenticate how accurate a

company’s financial record is.

● Tax Audit: Tax audit involves scrutinizing the tax returns of a company to
check if the financial information provided is correctly reported.

● Internal Audit: Internal audit is performed to examine, monitor and analyze all
activities relevant to the operation of the company. It includes an audit on the
structure of the business, the behavior of the company’s employees as well as its
information system.
ITR SERVICES

A. INDIVIDUAL EMPLOYEES

● Single source except Business/Profession Rs.399 + 18% GST tax =

Rs.471

● Two source except business/profession Rs.499 + 18% GST tax =

Rs.589

● Three source except business/profession Rs.699 + 18% GST tax =

Rs.825

● Four source except business/profession Rs.999 + 18% GST tax =

Rs.1179

● Any source + foreign income except Rs.2999 + 18% GST tax =

Rs.3539
business/profession

B. FOR BUSINESS/PROFESSION

● Turnover up to 10 lakh Rs.1499 + 18% GST tax =

Rs.1769
● Turnover from 10 to 25 lakh Rs.3999 + 18% GST tax =
Rs.4719

● Turnover from 25 to 50 lakh Rs.6999 + 18% GST tax =

Rs.8259

● Turnover above 50 lakh Rs.9999 + 18% GST tax =

Rs.11799
 2.5 ALL INDIA ITR IN THE NEWS

Income Tax eFiling: Top 5 apps on Android and iOS smartphones to

help you file IT returns

1. ClearTax App

ClearTax app: ClearTax app helps individuals to file their returns with
their mobile device (smartphone or a tablet). Based on some of the basic
details provided by you, the platform’s rule engine selects the right form
for you. You can even import details from your Form 26AS and Form 16
into the app while filing your tax returns. An interesting feature of this
app is that you can work on your tax details even when there is no
internet connection; you can enter all your details in offline mode and the
moment your device gets connected to the internet, the app automatically
syncs the details to server.

2. Hello Tax App

Hello Tax app: Hello Tax is an easy and quick way to file your tax return
and stay updated with your income-tax information. The user interface of
this app from New Delhi-based iTechFlock Software is pretty intuitive;
one can easily navigate from one screen to the other and with just three to
four clicks, you can easily file your tax return. The app comes with some
interesting features such as quick file ITR, quick refund status,
transaction history, tax calculator, PAN card details, document storage. In
fact, you can simply upload your Form 16 and rest will be taken care of
by Hello Tax.
 3. All India ITR App

All India ITR app: With several tools like Income Tax Return Filing,
Income Tax Calculator, HRA Exemption Calculator, Rent Receipt
Generator and much more, taxpayers can easily file income tax returns.
You can also reach out to All India ITR for any tax related query. The
app assistance is available for individuals as well as businesses.

4. MyITreturn App

myITreturn app: With myITreturn, you can quickly calculate your

income-tax, know the status of your e-filed income-tax return, check the
status of your income tax refund, even find your assessing officer and
receive timely app notifications etc. Basically, the app is aimed to keep
individual tax filers updated with their income-tax return details. Users
can find out their refund or demand status without having to go to any tax
professional.

5. Crazyreturn App

Crazyreturn app: Crazyreturn claims to provide income-tax return filing

at the click of button. Offered by Ahmedabad-based Little Play Studio,
the app allows users to not only e-file their IT return, they can calculate
their projected tax liability using income tax calculator. Users can just
enter their income and deduction details and the tax calculator will
calculate their tax liability. Once the user submits a request, the app's
mobile Tax (m-Tax) advisor team reviews the documents and prepare the
IT return. All India ITR is a government authorized E-return file
intermediary between the taxpayers and the government.

●
Now, file your tax returns in 2 minutes with All India ITR app

NEW DELHI: Tax-filing is a tedious process and for many of us this time
of the year involves calling a tax consultant to file our returns for the
year. However, a startup with the mission to “to simplify the taxation
process for the common individual” has launched a mobile application to
help salaried individuals and businesses to file tax returns.

The start up, All India ITR, claims that that they have reduced the
lengthy procedure of filing tax returns to just two minutes.

“Tax filing is a tedious process and very few people are comfortable with
it. Our app makes it simple as it reduces the e-filing process to just two
minutes. The app provides the users with the liberty to file your returns
from anywhere and is error-free as it auto-imports users’ Form 16 data,
leaving no room for manual errors,” says All India ITR, founder and
director, Vikas Dahiya.

The app has been made available to Android and iOS users. However, for
those who still do not feel comfortable with the financial jargon, the
company has a team of tax experts to help the users.

“With the advent of technology filing tax return has become simple.

However, tax experts/CA’s still have great role to play. Thing are
changing and now people are adapting to technology,” says Dahiya.

The company claims that every time tax return filed on its platform is
checked thoroughly to minimise errors. This, says Dahiya, helps in
ensuring that users get their refunds with minimum investment of time.
 Apart from this, the company, backed by a team of tax experts, provides
services of filing TDS, GST and ITR for businesses as well as individual
taxpayers and plans to open retail offices pan-India in the near future. The
final date for filing tax returns for individuals is July 31.

Tax authorities to impose penalty for non-filing of ITR by July 31,

app lets you complete your returns in 2 minutes

New Delhi. The Income Tax Department has fixed the last date for filing
of returns for individual taxpayers for the financial year 2016-17 or for
assessment year 2017-18. Taxpayers with annual income of Rs5 lakhs
will be able to file an income tax return by filling out only one page form.
However, the delay in return will have to be fined in the form of late
fees. If you file a return after the last date for filing income tax returns,
then you will have to pay 5,000 rupees as a late fee. At the same time, if a
person returns the returns after December 31, then this fee will be Rs
10,000. However, the total income of those who do not exceed 5 lakh,
they will have to pay a maximum of Rs 1,000 as late fees. Read also:
Preparation of new system, preparations from anywhere in the country,
assess the taxpayers with the help of this app. Return file Startup All
India ITR has filed a return file for ordinary citizens in two minutes. The
mobile app is launched to make the process easier. With the help of this
app, salaried and business can file their tax returns easily. With the help
of this app, it is claimed to have a return file in just two minutes. Read
also: This can be a mistake associated with the PAN card. You should be
imprisoned for 7 years. Be careful, All India ITR founder and director
 Vikas Dahiya said that tax filing is a tedious process and very few people
do it themselves. 

Now you can file ITR through your mobile, Government authorized
website launches e-filing app

New Delhi: All-India ITR, an e-filing website authorized by the government,

has launched an app to make easy income tax e-filing. This website has URL-
https://www.allindiaitr.com/

ITR founder and director Vikas Dahiya said in a statement that income
tax filing is on the rise. In this case, this mobile app will help people
prepare their income by themselves and they will not have to spend
money on the services of any specialist. 

This mobile app has a user-friendly interface, which provides users the
option to check refund status, calculate outstanding income tax, calculate
HRA exemptions and generate rental receipts. In this app, there are
answers to tax related questions, as the answer gives a group of chart
accountant experts. This mobile app is available free on Google Play
Store and App Store. (Based on the news agency's report of the News
Agency) 
 CHAPTER 3: TRAINING WORK
3.1 OPERATIONAL WORK
In our company, we all Interns of marketing works on their custom admin
portal. We all have our unique login-Id and password. We have to collect
the data from the server which are our daily Registered, In progress and
Contact us User.
Registered Users are those users who have only login in our app and don’t move
further.
Inprogress Users are those users who have login to our app also with they have
complete the process of the ITR like uploading their Form-16, Aadhar
Card, Pan Card etc. but stopped at the payment page.
Now, come to the final Contact us Users. They can be the customers who have
already bought the services of our company and have some doubts or they
can be the customers who want to buy the services of our company but
they have some query or doubt in their mind which they want to clear.
We have to collect these data because we think that these customers can
generate a very good lead for our company.
● Priority to the users
We also give the priority to these users.
First one is our Registered Users. These users have only logged in to our app
which anyone can download by seeing their ad or they can download this
app by thinking it a free service provider like a Govt. Portal of Income
Tax. So, we give these priority less than our Inprogress Users.
Next one is our Inprogress users. These are the users who are serious about the
product because they have entered their all personal details like their
Aadhar Card, their Pan Card, Form-16 which a normal person don’t fill in
their normal life. We give more priority to these users as compared to
registered users.
The last one is our Contact Users. These users are also necessary in terms of
Customer Satisfaction or to generate more leads because these customers
will be the ones who will refer the next customers by their experience.
 3.2 COMMUNICATION WITH THESE USERS
Now, the users which we have classified into Registered, Inprogress and
Contact us users will be communicated.
In daily time, we have a huge customer base of these users which we collect
from the App server. Now, after this we assign this data to all the interns like
some to give only registered users, or only Inprogress or some to work on the
leads.
After that, we have to communicate with these customers by our tele-calling
system which is connected with the support phone no. of our company.
For this, we should also have a proper knowledge of our App so that customer
got struck in any step of the process, we should know what to do in that
situation. So, we have also got a full training for the complete process of the
App.
In our portal, there was also a conversion page which shows the status of
payment of their particular users for all the users. If customers do the payment,
it shows the success status in the portal which shows their particular clients
which adds into their incentives
 3.3 THE IMPROVEMENTS IN APP
Along with the operational work, we have also come with the Improvements in
the App. We have come up with the following improvements: -

● Improve in the uploading of documents.

In the beginning, there was a problem in uploading of documents. Sometimes,
we get a problem from the customers that in some phones, they are not
able to upload the documents. Then, we remove that problem and we
compress the image size for uploading the documents.

● Come with Paytm option in our App.

In this digital life, there are varieties of modes of payment online. In the same
way, Paytm is one of the likely app for payment online because Paytm
has caught a very great market for both commercial markets and domestic
too. This is the also problem we have seen that our clients prefer to pay
from Paytm. So many clients have asked us that why you don’t accept
payments from Paytm rather than Net Banking and all.
 ● Come up with the chat function.
Our app process to file the return is that after the signup, you have to firstly
choice your income source, and fill your personal details and all. But the
main problem we saw in this that customers who have done their payment
and their work is under progress, in which there are some also those
customers who has upload their documents not clearly, or if we try to call
them, if there phone is out of range, or busy. We are not able to send our
message to them and We file the return in 48 hours. But in this case, it
can be a longer time and customers willn’t accept their fault. So, what we
did we came up with a new chat option for those customers who have
done their payment. From that, we can tell them the stepwise tracking of
their ITR filing to them.

● Refer & Earn Option.

Advertising plays a major role in creating the awareness of the product. In this
current scenario, you can increase your product awareness by doing
advertising on Google Adwords, Facebook etc. Unless or until customers
themselves refer your product, product willn’t go for a long time. For
this, we have come up with the Refer & Earn option in our App, in that
customers will get their unique code and they can share that unique code
on social media. The friend to whom they refer, by doing their payment
on our app, the person who refer them will get Rs.100 cashback.
 3.4 INCOME TAX FILING
In our later days, we have also done Income tax filing for salaried customers.
We have to file their return in 48 hours. After the customers done the payment
on our app, we assign them a Tax Expert. They get the name and contact no. of
the tax expert. We have to tell them the exact step of their work process and talk
to them in case of getting documents.
 CHAPTER 4: FINDINGS AND SUGGESTIONS
● FINDINGS
If we talk about findings, there are so much positive findings and no
negative findings. The employees there are so much supportive, talented
and help us in our every mistake. There is a very good working
environment. All the employees listen to our issues and clear all our doubts.

● SUGGESTIONS
As our Company is a previous year start up company and also belongs to
Fintech Sector which shows the latest innovations in technology in
finance firms. Our company was doing good in technology work but
there was also some need of improvement in this which we will definitely
improve in the coming years. All the rest things are so great. There was a
huge client base of our App in only 1 year.
 CHAPTER 5: CONCLUSION
In conclusion, As our All India ITR comes under Fintech Sector they have still
more ways of increase its advertising channels to reach relatively to a large
number of corporates so as to generate more leads. As Our company is a
previous year start up company, in that point of view our company was doing
great. All India ITR is at right now at a growing stage which will further
improve or update acc. to the coming changes in this sector.

I would like to say that All India ITR is quite known to corporates and even
retail segment. All India ITR has built its relations among a relatively large
number of people in an around all over country and cross the country. The
customers are aware largely of the services and facilities that All India ITR is
providing with the help of advertising.

From my training work there, I have learnt so many things. I have learnt how to
effectively communicate with the customers, what things we have to do for
customer satisfaction, taking feedbacks from the customers and many more.
At last I would like to thank the Director of our Dept. Prof. B.S. Bodla and the
Mentor (Mr Bapi Das) for their guidance and support.

CHAPTER 6: LEARNING FROM THE TRAINING

In this summer Internship, we have learnt a lot of things. We learnt how to

effectively communicate with the customers, how to come again and again with
improvements, asking for the feedbacks, proper work management, proper
knowledge of the product In our company, customer satisfaction, generating
leads, If we talk about our staff, they are so much talented and very much
supportive and help us in our every mistake. In short, we can say that in these 2
months we have lived a different life and learn so many things which was left
yet at that time.
 CHAPTER 7: REFRENCES

● www.allindiaitr.com

● www.scribd.com

● www.financialexpress.com

● Tax to win

● www.cleartax.com

● www.economictimes.com

● www.ndtvindia.com

● www.indiatvpaisa.com
● www.MakeinIndia.com