Pune-based TaxSutra, which runs an tax information website of the same name, has raised $161,000 from a group of investors including former Infosys CFOs V Balakrishnan and T V Mohandas Pai, reports Vccircle. The company will use the funds for scaling up and product development.
Taxsutra.com currently tracks developments in Income Tax Department, Central Board of Direct Taxes and the Finance ministry, and rulings from AAR, Supreme court, High court and the Income tax Appellate Tribunal, to provides users with tax related information. The platform also provides its users with discussion forums, commentaries from inside the industry, white papers and other features.
The platform primarily targets tax practitioners, tax regulators, directors and policymakers, and runs three B2B online subscription based portals, on transfer pricing, indirect tax and direct tax. The transfer pricing portal provides users with editorials, case tracker, international rulings, TP talk and an expert corner among others, the indirect tax portal provides real time reporting on Central Indirect Taxes including Service Tax, Excise, Customs and Foreign Trade Policy, while the direct tax portal provides the same for quick updates on ITAT, AAR, HC and SC rulings on income tax matters among other things. Its portal tp.taxsutra.com also contains a database of TP cases from India. Each portal charges users Rs 15,000 for an annual subscription.
Other than this, TaxSutra also offers special coverage of specific events, ‘TaxSutra TV’, rulings from the Supreme and High courts, ITAT, AAR and about International Tax, for free to unregistered users. The company mentions that it is looking to launch a host of new products in the country over the next 12-18 months, that will cater to the information and analysis needs of tax/law professionals. Founded in 2011 by Arun Giri, Ameya Kunte & Arun Anant, this is the portal’s first round of funding.