TaxSutra, Pune based online platform which provides information about various norms of Income Tax has raised INR 2.5 CR (US$ 366,000) from existing investors such as Mohandas Pai and V Balakrishnan. The funding round also saw participation from PV Srinivasan (Former Taxation head of Wipro Technologies).
TaxSutra was founded in 2011 by the trio of Ameya Kunte, Arun Giri and Arun Anant. It provides real time news and updates about Income Tax. The information on the platform is sourced by ITAT, High Courts in India as well as the Supreme Court of India. The portal also tracks the latest developments happening at the Income Tax Department, CBDT and Finance ministry. TaxSutra runs a number of online newsletters based on Direct Taxes, Indirect Taxes, Transfer pricing, Corporate Laws and Auditing & Accounting standards. It also operates a discussion forum and white papers from inside the taxation industry.
Talking on the development, V Balakrishnan stated his delight over the continued growth of TaxSutra and stated that the editorial content is trusted by a lot of taxation and auditing professionals, corporate decision makers etc.
The startup had earlier raised INR 1 Cr in February 2015 from the likes of TV Mohandas Pai and V Balakrishnan. It claims to have doubled the revenues after the last fund raise and it operates with 40 people team in Pune.