Bengaluru-based income tax return e-filing platform ClearTax has raised $54.2 million (Rs 400 crore at current exchange rates) in a fresh round of funding, a top company executive told TechCircle. Hong Kong-based investment firm Composite Capital Management led the investment round into the firm, Archit Gupta, co-founder and chief executive of ClearTax said in a text message. Existing investors Sequoia Capital and SAIF Partners will also put in money. However, their participation will be confirmed later, Gupta added. Defmacro Software Pvt.