Zomato, the food delivery giant, has announced a new initiative to support its delivery partners by assisting them in claiming refunds on their Tax Deducted at Source (TDS) through Income Tax Return (ITR) filings.
Deepinder Goyal, CEO of Zomato, shared the news on the social media platform X, expressing excitement over the positive impact this will have on the delivery partners’ financial well-being.
The initiative, launched in collaboration with ClearTax, has already seen over 1 lakh delivery partners initiate their ITR filings within just 48 hours of going live on the Zomato Delivery Partner app.
This proactive step is expected to result in more than Rs 40 crores in total tax refunds for the partners.
As per government mandates, Zomato deducts 1% TDS from the payouts made to delivery partners, amounting to over Rs 4,000 crores last year.
This TDS can be reclaimed as a refund through proper ITR filings. The new system facilitates this process, making it accessible and straightforward for the delivery partners, many of whom will be filing taxes for the first time.
Deepinder Goyal highlighted the broader benefits of this initiative, noting that it will significantly enhance the delivery partners’ financial literacy and stability.
Filing taxes can open up numerous opportunities, such as access to structured credit and eligibility for educational scholarships for their children.
“With this initiative, most of our delivery partners will be filing taxes for the first time in their lives, which should make their lives easier in the long run,” Goyal stated in his post.
The collaboration with ClearTax plays a crucial role in this endeavour, providing the necessary tools and support to ensure a seamless and efficient filing process for the delivery partners.
This initiative marks a significant step towards financial inclusion and empowerment for Zomato’s delivery partners, reflecting the company’s commitment to their welfare and long-term prosperity.
This announcement comes on the heels of Deepinder Goyal’s recent entry into the billionaire club, following Zomato’s stock hitting INR 230 per share on July 15.
