TaxSutra, a Pune-based online tax information platform, has raised $161K from a group of individual investors including V Balakrishnan and T V Mohandas Pai, former CFOs and board members of Infosys.
The company has planned to utilise the funds raised for increasing the scale of its operations and product development.
Arun Giri & Ameya Kunte, founders of TaxSutra Services, said in a joint statement, “We have a host of new product launches lined up over the next 12-18 months that will cater to the information/analysis needs of tax/law professionals.”
“Leading corporate boards are struggling with lack of quality information and analysis to mitigate their risks while taking business decisions. TaxSutra provides that critical information backed by a high quality team of founders and professionals,” Balakrishnan said.
Founded in 2011, Taxsutra provides its customers with solutions on tax related areas like direct tax, indirect tax, transfer pricing (TP) and corporate laws through three B2B online portals. It keeps updating cases and trends 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.
Arun Giri has 7 years of journalistic experience as a broadcast journalist with leading business news channels – CNBC TV18 and Bloomberg UTV. Ameya specialises in Indian income tax, international tax and exchange control laws and has worked for international consulting firms such as Ernst & Young (E &Y) and PricewaterhouseCoopers (PwC).