MYD Labs: Providing EZTax Filing Solutions with Unmatched Expertise

Suneel Dasari,CEOSince Government is adopting prolific measures to untangle the Gordian knot holding GST, by launching simplified and user-friendly version of GSTN-3 for monthly tax-returns, SMEs can now breathe relaxed. Previously, bellyache for many tax payers was the utilization of Input Tax Credit(ITC)and computation of balance payment in cash. Improved user-interface and redesigning of process has made the filing of GSTN-3 considerably convenient, hence limited scope of errors, save time and increased efficiency when filing returns. According to Suneel Dasari(CEO, MYD Labs – India’s first AI enabled GST Ready Cloud Accounting Platform), “We identified the architecture and technology that could meet the future demands of the tax payers and built a truly next generation technology platform –”. This comprehensive tax software covers filing of Income Tax, GST, TDS, Accounting, and Registrations while also touches the core fundamentals of SME business needs of all three verticals – trading, manufacturing and retail. Recognized as India’s first Online Tax Optimizer, Creative Audit Solution and Form-16 Image provider, the company masters in
product development, project management and IT Advisory.

Besides GST, the software significantly offers single window tax compliance solution for income tax filings and TDS filings

Simplifying Tax Compliance
Proffering non pareil services since 2016, EZTax assists users in preparing GST compliant invoicing, filing GSTR-3B and GSTR-1, 2, 3, 4 returns by uploading their invoices and also maintains virtual accounting services(VAS)and its GST returns, thus it’s an online, quick and secure way for filing returns. Besides GST, the software significantly offers single window tax compliance solution for income tax filings and TDS filings. Users can either take up self-service online solution (100 percent free)or experience EZTax’s assisted tax expert services and consultation solutions, an add-on facility especially for CAs is its free tax filling software.

GST regime demands businesses to be more systematic in their accounting. But this tax compliance transition from traditional to systematic approach is certainly no cake-walk for SMEs. EZTax has proven GST efficacy by implementing modern and futuristic approach in its software development, a service accessible on PC and mobiles without downloading the app. However, the company has also launched its personalized app for GST
accounting and Income Tax filing on Google play-store and Amazon app-store. For such history carving modification, thorough understanding and expert advisory is significant; and MYD Labs’ experts proficient in GST COE (Center of Excellence) are doing exactly this by engrossing themselves in research methodologies to generate strategies for customer-oriented services.

Security Like None Other
Suneel asserts, “We adhere to every regulatory compliance. Our security standards are second to none. Before we say customer first, we are the first customer for our own software and services”. While the software runs completely on cloud hosted in India, adaptation of latest 256-bit encryption, end-point security standards and identification of login IP/location leaves no craters for internet breaches, hence total data security. Another challenge hampering GST implementation is identification of HSN/SAC codes that seems simple but demands complex practice. For such quandaries, the company has integrated HSN/SAC code search tools in its software and also rolled out these tools online for smooth user-interface. The concept of money-in, money-out has been introduced to simplify the accounting entries procedure, while its newly launched comprehensive Android app covers billing, accounting, and GST Returns.

No wonder, this Hyderabad-based company is recording revenue growth in double cents every month! It has plans in pipeline for the launch of neighborhood tax service centers in selected cities to offer offline tax filing advantage, which would again be a first-of-its-kind in India.