H&R Block and NiYo Partner to Offer A One-Stop Tax Solution For Salaried India
Pune, December 7, 2016: H&R Block, the biggest consumer tax filing company in India has partnered with Fintech startup NiYo to revolutionise the tax planning experience for salaried individuals. Under this partnership, H&R Block along with NiYO will provide the “HRB-NiYO Employee Benefits Solution” that will make it easy for organizations to help employees through the complete tax cycle. The partnership brings forth a first-of-its-kind technology that makes tax saving and filing completely digital. It starts from the moment the employees receive tax-free allowances as part of their monthly salary.
H&R Block offers online tax filing solutions to salaried individuals in India through their Expert Tax Preparation service that provides services of tax experts. NiYO features an integrated solution comprising of a Multi-Pocket Card, a Mobile App and a digital account with multiple wallets. The HRB-NiYO Solution will help employers maximize benefits by making them available on a single NiYO card, it will also help in digitizing tax proofs through NiYO mobile app & web interface and finally it will help employees file taxes with H&R Block smart tax filing solutions. Through this unique proposition, employees will not only be able to avail, record and track their employee benefits usage but also get these vetted by tax experts at H&R Block and get taxes filed easily. They can also opt for tax planning services by experts through the app on their mobile.
The addressable market is close to 30 million salaried employees in India who are eligible for various employee benefits. H&R Block came to India in 2012 and introduced the “Expert Tax Preparation” service where an H&R Block tax expert prepares and e-files an individual’s taxes by leveraging its state of the art tax preparation software. NiYO was launched in July 2016 in Bangalore and is already used by more than 50 corporates having an employee base of over 10000.
The employee benefits card services by NiYO and tax filing and planning services by H&R Block, complement each other very well. Hence, this partnership will bring a huge synergy in the market that will benefit the salaried individuals immensely.
