Scribd Logo
Upload

Welcome to Scribd!

  • 31 views

    Beat The Curve-Case Study: Iim Raipur Team Name: Megamindz Members: Shubham Shakar - Rahul Tiwari

    Uploaded by

    RahulTiwari
    This case study proposes offering tax saving schemes to customers filing electronic tax returns through ICICI Bank's mobile platform. Currently, e-filing is available through net banking and the proposal is to expand it to mobile apps. Tax saving schemes could then be sold directly through the app, showing customers how their tax liability and returns would be impacted. Over 20% of individual taxpayers who earn between 0-5 lakhs do not currently use any tax saving schemes, representing a potential target market of around 50 lakh people. The proposal aims to convert more of these taxpayers to regular e-filers and cross-sell them other ICICI Bank products and services.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Beat The Curve-Case Study: Iim Raipur Team Name: Megamindz Members: Shubham Shakar - Rahul Tiwari

    Uploaded by

    RahulTiwari
    31 views6 pages
    This case study proposes offering tax saving schemes to customers filing electronic tax returns through ICICI Bank's mobile platform. Currently, e-filing is available through net banking and the proposal is to expand it to mobile apps. Tax saving schemes could then be sold directly through the app, showing customers how their tax liability and returns would be impacted. Over 20% of individual taxpayers who earn between 0-5 lakhs do not currently use any tax saving schemes, representing a potential target market of around 50 lakh people. The proposal aims to convert more of these taxpayers to regular e-filers and cross-sell them other ICICI Bank products and services.

    Original Title

    IIM RAIPUR_MEGAMINDZ.pptx

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This case study proposes offering tax saving schemes to customers filing electronic tax returns through ICICI Bank's mobile platform. Currently, e-filing is available through net banking and the proposal is to expand it to mobile apps. Tax saving schemes could then be sold directly through the app, showing customers how their tax liability and returns would be impacted. Over 20% of individual taxpayers who earn between 0-5 lakhs do not currently use any tax saving schemes, representing a potential target market of around 50 lakh people. The proposal aims to convert more of these taxpayers to regular e-filers and cross-sell them other ICICI Bank products and services.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    31 views6 pages

    Beat The Curve-Case Study: Iim Raipur Team Name: Megamindz Members: Shubham Shakar - Rahul Tiwari

    Uploaded by

    RahulTiwari
    This case study proposes offering tax saving schemes to customers filing electronic tax returns through ICICI Bank's mobile platform. Currently, e-filing is available through net banking and the proposal is to expand it to mobile apps. Tax saving schemes could then be sold directly through the app, showing customers how their tax liability and returns would be impacted. Over 20% of individual taxpayers who earn between 0-5 lakhs do not currently use any tax saving schemes, representing a potential target market of around 50 lakh people. The proposal aims to convert more of these taxpayers to regular e-filers and cross-sell them other ICICI Bank products and services.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 6

    Beat The Curve- Case Study

    IIM Raipur
    Team Name: MegaMindz
    Members: Shubham Shakar-19PGP216@iimraipur.ac.in
    Rahul Tiwari-19PGP204@iimraipur.ac.in
    • As per Income tax department statistics, 4,88,50,311 entities

    have filed for ITR in AY 2017-18.

    • This number has increased by 21% compared to ITR filed in AY

    2014-15

    • These statistics does not include entities who do not file returns

    • Also, in Budget 2017-18 Government has introduced late filing

    fee up to a maximum of 10,000 making ITR filing mandatory

    • Process for filing of ITR is so tedious that many people could not

    complete the process timely and will end up losing money as


    Background
    penalty.

    TREY
    2
    research
    The idea is to offer Tax Saving schemes to customers at the time of e-
    returns filing from ICICI bank mobile platform

    • Currently, there is a provision to e-file tax returns from net banking

    • Taking it a step further, the e-filing procedure could be brought into


    the mobile platform to extend its reach The Idea
    • Also, tax saving schemes can be sold on the spot from mobile app
    at the time of filing “Save for returns, Save More”
    • Users can be shown instantly what schemes if opted would reduce
    their tax and increase their returns making the sale of Tax saving
    schemes more convenient.

    • Around 2.55 Cr Individuals pay tax in range0-5 Lakhs. Out of these


    2.55 Cr Individuals 20% do not opt for any tax saver schemes.
    Which can be targeted at the time of return filing.

    TREY
    3
    research
    STATISTICS
    How Indians File Tax
    Returns
    2%
    11%
    16%

    Why people do not opt for


    72% Tax Savings schemes
    6%

    26%

    ITR Website 37%

    Other Websites
    Through CAs 31%

    Through Tax Return Preparers Other


    Tedious
    Do
    They
    not
    forget
    out on
    Reasons
    realise
    Processhow much money they are missing

    *Primary Research data obtained via multiple surveys

    TREY
    4
    research
    Opportunities

    • Many products can be sold like medical insurances, Life insurances & various Tax Saving schemes to people

    filing their returns through ICICI by showing them in real time how much money can be saved.

    • Different products can be cross-sold to people filing their e-returns through different websites like cleartax, &

    myitreturn for an incentive.

    • Out of the potential 50 lakh individuals (approx.) who do not opt for tax saving schemes can be converted into

    regular e-filers & can be sold variety of products of ICICI bank & their different SBUs.

    Add a footer TREY


    5
    research
    ThankYou

    TREY
    6
    research

    You might also like