The article states that H&R Block India, a subsidiary of the US-based global leader in tax preparation and the largest individual tax services company is planning to expand its operations in India. The company is headquartered in Pune. It aims to acquire one million taxpayers by 2020.
Rohan Parikh, Managing Director, H&R Block India, states that the company has invested nearly Rs. 100 crore in India and plans on hiring 700 tax advisors for the tax season 2016. This move is being made with the purpose of catering to the increasing client flow.
The company is presently operating in six cities across India. Basically, they plan to expand to other markets. It has introduced the ‘new way of tax filing’ in India with its Expert Tax Preparation service. A tax expert will prepare and e-file taxes for you through this service.
According to Parikh, currently, in India only a little over 3% of the population file ITR. While, this rate is more than 50% in many developed economies.
He also mentioned that the government is focused on increasing the taxpayer base. Hence, most probably the number of taxpayers would increase significantly.
Vaibhav Sankla, Director, H&R Block India, asserted that the company’s state-of-the-art service delivery model is already providing service to 100 plus cities in India and over a dozen countries of the world through NRI and US tax filing services.
Source : The Hindu Business Line