Taxbuddy.com is a fintech company founded by SSBA Innovations that offers tax services to consumers, professionals, and enterprises. Sujit Bangar, the founder of Taxbuddy, is a self-made person who has achieved tremendous progress in his profession despite his youth. All taxpayers receive proper tax guidance at a reasonable cost. These services are available through the Taxbuddy App and the Taxbuddy.com website.
Q – What motivated you to start Taxbuddy.com?
Sujit Bangar: Indian society is transforming into a Digital One in a big way. The taxation department has been at the forefront of digitisation. Tax compliance was possible online without the hindrance of physical distances. The logical next step would be tax advisory automation. TaxBuddy.com has been focused on the same since its inception.
Q – What is the one thing that differentiates Taxbuddy.com from competitors?
SB – Advisory automation is the thing which separates TaxBuddy.com from the crowd. On the one hand, Tax Payers can get accurate tax compliance from TaxBuddy.com; on the other, Tax Experts can scale their business.
Q – Can you throw some light on cryptocurrency taxation?
SB – Till budget 2022, there was significant ambiguity regarding cryptocurrency taxation. Honourable FM has brought central clarity in respect of its taxation. Virtual digital assets (e.g. cryptocurrency, NFT etc.) would be taxed at the maximum tax rate. Further TDS at a rate of 1% of sell value has also been proposed. As cryptocurrency, NFT, etc., are emerging as a new asset class for investing, the taxation aspect will also mature. What’s essential is predictability in taxation. Government should avoid surprises and try to keep the tax regime predictable. It will enhance the confidence of investors.
Q – How can Taxbuddy.com be helpful for an individual?
SB – Any individual wishes to have two things from tax compliance. Firstly, the accuracy of tax compliance and secondly, tax saving. At TaxBuddy.com, accuracy and tax-saving both are ensured by leveraging technology. Further, users get tax planning and notice/query support free of cost post-filing
Q – What are your expansion plans?
SB – TaxBuddy.com has a very diverse user base across India. Emerging as the preferred option for direct tax compliance, TaxBuddy.com has been expanding in GST compliance recently. Our tech team has developed an Input Tax Credit (ITC) management tool currently in beta testing. TaxBuddy.com will be expanding its advisory automation-based compliance model to the USA soon.
