Based on the information provided, here is a comparison of JioFinance’s ₹24 ITR filing plan with other major players like ClearTax, TaxBuddy, and Tax2Win.
JioFinance vs. Competitors: How They Stack Up
| Feature | JioFinance (₹24 Plan) | ClearTax | TaxBuddy (direct) | Tax2Win |
| Pricing | ₹24 (Cheapest in the market) | Basic: ₹2,540; Luxe: ₹25,000 | Self-filing: ₹699; Complex filings: ₹2,999 | Basic: ₹49; CA-assisted: ₹1,274–₹7,968 |
| Target User | Salaried individuals with income up to ₹5 lakh and a single Form-16. | All income sources, including complex cases, businesses, and NRIs. | All income types, including complex returns like capital gains, F&O, and crypto. | Catered to various users, from simple salaried returns to complex cases. |
| Assistance | No CA assistance (self-filing only). A separate ₹999 plan offers expert help. | Offers both self-filing and expert-assisted plans. | Primarily focuses on expert-assisted plans, but also has a self-filing option. | Offers both AI-powered self-filing and CA-assisted plans. |
| Complex Cases | Excluded. Does not support business owners, multiple income sources, capital gains, or foreign assets. | Handles complex cases like capital gains, F&O, business income, and crypto. | Strong support for complex income sources, including F&O, crypto, and business income. | Handles complex cases like capital gains, F&O, crypto, and rental income with CA-assisted plans. |
| Key Features | Old vs. new tax regime comparison, deduction mapping, HRA calculation, and refund tracking. | AI-powered chat-based filing, year-round expert support, and dedicated relationship managers on higher plans. | AI-powered auto-fill, post-filing notice assistance included in plans, and real-time refund tracking. | AI-powered self-filing, auto-selection of ITR forms, and tax computation. |
| Data Privacy | All filings routed through a registered e-return intermediary (TaxBuddy) with user consent. JioFinance states it will not store tax data itself. | N/A | N/A | N/A |
Summary of the Comparison
- Pricing: JioFinance’s ₹24 plan is a “game-changer” for a very specific, simple taxpayer profile. The price is significantly lower than even the most basic self-filing plans of its competitors.
- Target Audience and Features: The ₹24 plan is highly limited, suitable only for those filing ITR-1 with a single Form-16. For anyone with a more complex tax situation—such as a business owner, a freelancer, or someone with capital gains—JioFinance’s basic plan is not an option. Other platforms like ClearTax, TaxBuddy, and Tax2Win offer a full range of services, including expert assistance for complex filings, at a higher cost.
- CA/Professional Assistance: While JioFinance offers an extremely low price for self-filing, it comes with no professional guidance. Its competitors, while more expensive, provide various tiers of expert-assisted plans, which are crucial for navigating complex tax situations and avoiding errors that could lead to income tax notices.
- Data and Ecosystem: JioFinance’s low-cost entry is seen as a strategic move to onboard users into its broader financial services ecosystem. While it has stated it will not store tax data, questions remain about how data may be used for cross-selling in the future, especially with the Digital Personal Data Protection Act, 2023, awaiting full implementation.