In November last year, Cleaetax said that they’re very close to profitability and will be profitable in next 18 months, as per a Business insider report.
I think similar situation for Quicko. They’re making money somewhere.
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They may have some financial products, some financial instruments to sell, which could be useful to some people. They have all the data from our filings, and this is age of data mining, so they analyze the data in many many ways, and approach the users who use their services and offer financial guidance, advisory and such.
As they say, data is the new oil 
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That’s what a lot of startups say! I mean if they’re burning cash, they need to assure their investors that they’re going to be profitable soon. If growth starts slowing and profitability is nowhere in sight, the valuation takes a hit big time.
Although, Cleartax has been around for much longer and has a wider array of services as compared to Quicko.
The thing with habit creation is that it is very hard to undo it. Once they’re able to have people use their platform regularly, it’s going to be easier to start charging and achieve profitability.
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@ANKIT_T Thanks for your question. We love answering this particular question.
Quicko helps customers save, pay & file taxes. Customers can choose from the following three plans
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Basic Plan: Offers free product to all users. It covers all basic features supported by the Income Tax Portal, competitors, and more.
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Pro Plan: Offers paid features such as investments, tax payments, multiple broker & crypto integration, and more.
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MEET: Our online tax advisory offering, which connects customers with tax experts on the go. Customers like MEET for its transparency, pricing & ease.
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Jason, as you yourself is a CA, so I wanted to know, are you allowed to do self Audit or you have to reach to another CA for the same ?
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No. Not allowed. An unrelated qualified CA has to do it.
But right now there is no need for me also. My turnover isn’t exceeding 10crores. 
Dear CV,
A CA or any tax professional’s liability depends on written scope of agreement. In case of absence of any written agreement, it is the assessee who is liable, not professional. A written agreement can be in the form of email or any correspondence as well. Unless there is an agreement in place, any tax filing assignment does not automatically convert into “assessment / scrutiny” assignment, if the need so arise. It is always a question of fact.
Regards,
CA. Deepak Bhholusaria
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Any audit/attest function is an independent function. One cannot audit himself, since you are an interested party. A CA which writes your book cannot audit it, since he is also an interested party. I am being a CA, cannot audit books of my relatives like wife, son, daughter etc. List is very long. #icai (body of CAs) and the CA Act, 1949, prescribes many such conditions to protect independence of audit/attestation and auditor. Any slight violation may result into suspension of license of CA/reprimand; and in serious conditions may even result into fine / permanent debarment.
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