How RazorpayX Payroll Automated TDS using Sandbox APIs
About the Company
RazorpayX Payroll is an employee management software that not just helps a company ease salary execution and contractor payments in just a few clicks but also automates tax compliance.
Founded by IIT Roorkee alumni, Razorpay aims to revolutionize money management for online businesses by providing clean, developer-friendly APIs and hassle-free integration. In 2019, Razorpay acquired a cloud-based payroll management startup called Opfin, resulting in the inception of RazorpayX Payroll
Problem Statement
RazorpayX Payroll was looking to automate TDS filing for employers. TDS compliance is a common problem statement for all HRMS platforms and usually requires high man-hours to ensure timely payment and filing of TDS returns for millions of their users
Offerings
Sandbox provides various Tax Compliance APIs, including end-to-end TDS compliance APIs. Sandbox APIs make it easier for deductors to remain TDS compliant by calculating the TDS that needs to be deducted, depositing the amount with the government on the 7th of every month, preparing & file their TDS returns at the end of every quarter, and issuing Form 16/16A to the deductees.
Sandbox provides easy integration and faster go-live dates with just one subscription that fits all API needs.
Outcome
RazorpayX Payroll chose the TDS automation API provided by Sandbox. This lets RazorpayX Payroll file its quarterly TDS returns and generate Form 16 with ease. The automation has simplified the process all under one subscription and enabled RazorpayX Payroll to add TDS filing as a feature.
Since Sandbox has easy integration and faster go-live time, RazorpayX Payroll is filing TDS hassle-free, and their focus shifts back to growing the core business.
