Wondering why Jio offers ITR filing for just ₹24? Discover the strategy behind this low-cost offer, its benefits, risks, and whether it’s right for you.
India’s tax season has always been a mix of anxiety, calculations, and last-minute rush. But this year, something unusual grabbed everyone’s attention: Jio Financial Services is offering Income Tax Return (ITR) filing for as little as ₹24.
Yes, you read that right – less than the cost of a cup of tea at a roadside stall. This service is available through the JioFinance app, in collaboration with TaxBuddy, and comes in two flavours:
- Self-service filing -₹24
- Expert-assisted filing -₹999
Jio ITR Filing ₹24 – Complete Guide to the Offer, Benefits, and Risks
Jio Financial Services has shaken up India’s tax season with an unbelievable offer – ITR filing for just ₹24 through its Jio Finance app in partnership with Tax Buddy. While this looks like a win for taxpayers, there’s more to the story than meets the eye.
In this blog, we break down:
- Who is eligible for the ₹24 ITR filing
- Why Jio is offering it so cheap
- The benefits and potential drawbacks
- Whether you should use it or not
Who Can Use Jio’s ₹24 ITR Filing Offer?
Before downloading the JioFinance app, check if you meet the criteria:
- Applicable only for ITR-1 (salaried individuals or pensioners)
- Annual income limit: ₹5 lakh or less
- No capital gains, business income, or foreign income
- Simple deduction claims only (like 80C, 80D)
If your financial profile is more complex, you’ll need to opt for the ₹999 expert-assisted filing or professional tax services.
Why Is Jio Offering ITR Filing for Just ₹24?
1. Loss Leader to Build Customer Base
The ₹24 fee is far below market rates. Jio’s goal isn’t to profit from the filing. it’s to attract millions of users into its JioFinance ecosystem.
Once you’re in, you may explore its other offerings like:
- Mutual funds
- Insurance products
- Loans and credit cards
- Financial planning tools
2. Collecting High-Value Financial Data
Filing an ITR reveals details such as:
- Your annual income and tax bracket
- Investment habits
- Loan liabilities and deductions
This first-party data helps Jio create personalised offers, improving its chances of selling you other financial products.
3. Disrupting the Tax Filing Market
Most online platforms charge ₹49-₹500 for basic ITR filing. By offering it at ₹24, Jio is undercutting competition, similar to its 2016 telecom disruption with cheap mobile data.
Benefits of Jio ITR Filing ₹24
- Ultra-low cost– Cheaper than any major competitor
- Digital convenience– File from anywhere, anytime
- Guided process– In-app instructions for deductions and regime choice
- Fast turnaround– Suitable for simple returns
Risks & Limitations to Consider
1. Data Privacy Concerns
Your financial data may be stored and used for cross-selling under the consent you provide. India’s DPDP Act offers some safeguards, but full implementation is still evolving.
2. Limited Eligibility
If you’re not in the ITR-1 category with income below ₹5 lakh, this offer isn’t for you. Filing under the wrong form can lead to notices or penalties.
3. Potential Filing Errors
Automated systems work well for basic returns but may overlook nuances that a Professional would catch.
Comparison: ₹24 Filing vs Other Options
| Feature | Jio ₹24 Plan | Jio ₹999 Plan | Traditional CA / Other Platforms |
| Eligibility | ≤ ₹5 lakh, ITR-1 | Broader cases | All types |
| Filing Type | Self-service | Expert-assisted | Human-led |
| Risk of Errors | Medium | Low | Very Low |
| Data Use | For Jio ecosystem | Same | Limited |
| Cost | ₹24 | ₹999 | ₹1500-₹2,000+ |
Should You Use Jio’s ₹24 ITR Filing?
Choose it if you:
- Earn less than ₹5 lakh annually
- Have only one salary or pension income source
- Want the cheapest possible filing
- Are okay with data sharing for marketing purposes
Avoid it if you:
- Have multiple income sources, capital gains, or property rental income
- Prefer privacy and control over your data
- Need professional guidance to optimise taxes
Conclusion
The Jio ITR filing ₹24 offer is more than just a tax service – it’s a strategic move to onboard millions into Jio’s financial network. For eligible taxpayers with simple returns, it’s a quick, affordable solution. But remember, in the digital economy, low cost often means you’re paying with your data. The cost is low because you are not just a customer, you are also the data source.
FAQs on Jio ITR Filing ₹24 Offer
1.What is the Jio ITR filing ₹24 plan?
It’s a self-service income tax return filing option offered by Jio Financial Services through the JioFinance app, in partnership with TaxBuddy. It’s available only for eligible ITR-1 taxpayers with annual income up to ₹5 lakh.
2. Who can use the Jio ₹24 ITR filing service?
Only salaried individuals or pensioners filing ITR-1 with annual income of ₹5 lakh or less. No business income, capital gains, or foreign income cases are eligible.
3. Why is Jio offering ITR filing for just ₹24?
The low pricing is part of Jio’s strategy to attract more users into its financial ecosystem, collect high-value financial data, and cross-sell other products like insurance, loans, and investments.
4. Is the ₹24 ITR filing safe to use?
Yes, it complies with Indian tax filing rules, but users should be aware that their financial data may be used for marketing and product recommendations within the JioFinance ecosystem.
5. What happens if I choose the wrong ITR form?
Filing under the wrong form, such as choosing ITR-1 when you’re ineligible, can lead to notices, penalties, or delayed refunds from the Income Tax Department. Always verify eligibility before filing.
ALSO READ
Importance of ROC Filings Calendar and Due Dates
How to Start an NGO For Animals in India
Section 8 Company Registration Process Step By Step
Difference Between Winding Up and Strike Off
Chiranjeevi Yojana Health Insurance Scheme