Tax Optimizer by Tax2win: AI tool to help Salaried employees save up to Rs 2 lakh | The Financial Express

Tax Optimizer: This AI-powered tool may help salaried employees save up to Rs 2 lakh

The Tax Planning Optimizer by Tax2win can help users reduce tax liability by up to Rs 2 Lakh by proposing more than 50 different ways to invest and save taxes.

Tax Optimizer by Tax2win
Check details of Tax2win's AI-powered Tax Optimizer tool. Representational image

Income Tax Return (ITR) filing Tax2win has launched India’s first AI-powered Tax Planning Optimizer tool that will help salaried professionals to maximize their income tax savings.

In a statement, Tax2Win said the tax planning optimizer tool takes basic inputs like age, income, savings and insurance premiums to provide an unbiased view of tax saving. Users can take the suggestions provided by this tool to plan their expenditures and investments to minimise their tax outgo and generate a higher take-home salary.

Tax2win further said that this AI-powered tool is fully compliant with ITR rules. It also suggests the best tax regime as per a user’s income.

Also Read: Budget 2023: How New Tax Regime can be made more effective

The tool further generates a detailed personalised report outlining tax saving recommendations under which one can claim additional deductions including suggestions on restructuring one’s CTC.

The company said that the tax optimizer can help users reduce tax liability by up to Rs 2 Lakh by proposing more than 50 different ways to invest and save taxes.

More than 30,000 users have already used the tool to cumulatively save upwards of Rs 62.5 crore in taxes, it added.

Commenting on the launch of the new tax planning optimization tool, Abhishek Soni, Co-founder and CEO of Tax2win said, “Tax2win’s mission is to save the hard-earned money of the taxpayers. Tax Planning Optimizer is an add-on to achieve this objective. Tax planning Optimizer is an effective tool that helps you maximize your tax savings. The tool helps reduce tax liability by taking advantage of all the income tax laws, provisions, and deductions applicable to a taxpayer’s situation.”

Also Read: What is the best time of the year to plan your taxes?

Tax2win was founded in 2015. The ITR filing platform currently has a customer base of over 1 million and plans to onboard 1 million users through the tax optimization tool in the next financial year. Tax2Win was acquired by Fisdom, a wealthtech in 2021.

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First published on: 19-01-2023 at 14:05 IST