2/ India’s tax filing market has been dominated by local CAs and fintechs like ClearTax and TaxBuddy. And just days before Jio’s announcement, ClearTax laid off 25% of staff including IIT grads hired only 60 days ago. Coincidence? Maybe. Signal? Definitely.

3/ Why ₹24 is not charity: Tax filing is the entry point to your financial life. Once Jio has your income, employer, deductions, and loan data, they can cross-sell - loans - insurance - mutual funds We all know, Tax is just the bait.

4/ Even if they claim “we don’t misuse personal data”, the aggregated and anonymised information is still valuable for profiling customers and targeting products. Think of it like UPI apps - your payment app just processes transactions, but also builds a spending and income

5/ If this feels familiar, it’s because Jio has done it before. In telecom, they gave data at throwaway prices, killed competition’s margins, locked in customers, then monetised through upsells and ecosystem products. Now they’re running the same play in tax-tech. ₹24 filing

6/ But will this kill the CA profession? Not entirely - the form-fillers wont survive The ₹24 product targets mass, simple filings. The market for ₹1,000–₹5,000 filings will evaporate. The CA’s edge will move towards: -Complex tax planning -Business advisory -Litigation &

7/ The economics: If even 1 crore people file via Jio @ ₹24 = ₹24 crore revenue. That’s peanuts for them. But if even 5% of those take a Jio loan, or invest in their MF? That’s where the ₹1000+ crore upside is.

8/ Bottom line: ₹24 filings will force a shakeout. CAs who only do compliance will feel the heat. Fintechs without deep moats will vanish. Chai costs ₹15. Your ITR? ₹24. Welcome to India, 2025.

@dhanesh500 this is good news, will make life of public better and no need of unnecessary CAs

@T_Harth and ambani richer !

@dhanesh500 This is not business model, this is predatory. Just because I have deep pockets to burn my cash I can kill fair competition

@dhanesh500 I paid 1k to Cleartax just a week back for tax filing😭

@dhanesh500 It's purely data collection drive. Imagine once they have ITR information of practically every Indian 👈🏻🤔😡

@dhanesh500 i do not think it is about monopoly or anything as such. of course, it is but it has much more to it. jio will have complete data about your income, spending, etc, etc., data is the new oil.

@dhanesh500 Hamara 1000 rs jaaye chale par dusre ko 24 rs ka fayda mat hone doh.. 🙄

@dhanesh500 Apt Time to invest in Jio Fin Services share.

@dhanesh500 They already have our phn no, home address, shopping habits, and whatnot, now they want financial data

@dhanesh500 Smart people are still doing it for free. Its a no brainer to file the tax. Now we even have AI tools to guide anyone. Companies will do their best to get our data.

@dhanesh500 Anyone Tried This ?

@dhanesh500 Deep 🥶

@dhanesh500 it was free on cleartax till 2023.

@dhanesh500 Hahaha, the hydra headed monster created & reared by bunya junta party has now strtd biting its own community slowly but gradually, now the fun begins!!! All this preaching shud hv been done earlier, no use now!!...🙂🙂😊😊😌😌

@dhanesh500 @grok what is the service which is mentioned here? What news came in today relating to Jio finance?

@dhanesh500 Bro All that is good I just can't see your point Are you mad that someone is offering cheap , simple and accessible service at ₹24 ?

@dhanesh500 Sirji, half knowledge is more danger. Gullible individuals file returns themselves and then might get scrutiny/notices. As a business model, they will also provide scrutiny services charging . (Although new regime have less complexity and so less notices)

@dhanesh500 @grok what product he is talking about

@dhanesh500 Non assisted tax filing for 24₹? Why anyone will pay anything for non assisted tax filing?

@dhanesh500 Don't other companies keep the data too? Why target a new entry only because he's a capitalist and sides with the regimem

@dhanesh500 Income Tax department should make it user friendly and free. Is that makes sense ? That how it should be.

@dhanesh500 ₹24 for filing your ITR is token money. They could have done it for free but attract criticism. This drive primarily is to collect IT data and use it to their advantage and make huge gains in the future. Jio SIM was free for calls & internet for quite long to kill competition.

@dhanesh500 CAs will soon become obsolete profession.

@dhanesh500 Sorry to bust your bubble but the crores of middle classes don’t have CA file their taxes .. they have some small area accountant type person filing it in mass !

@dhanesh500 Also they have earning & other PII details of every customer of their

@dhanesh500 Still its better to go Rs. 24/ , who is becoming richer that doesn't matter to me, I am getting cheaper, what I need thats it. If tomorrow Jio increases the fee we will come to CAs if they can serve the purpose with less price.