Mumbai-based online startup TaxSutra, a portal providing real-time tax-related information, analysis and insights to corporates and professionals has raised US$160,000 (around INR 1 crore) from former Infosys CFOs V Balakrishnan, TV Mohandas Pai and board members of Infosys.

Taxsutra will use the funds to scale up the company, improve technology and product development.

"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 January 2011 by media professionals - Arun Giri, Ameya Kunte and Arun Anant, Taxsutra is a B2B subscription-based portal on direct tax, indirect tax, transfer pricing and corporate laws. It provides instant news alerts and incisive analysis on both domestic and international tax.

Giri has previously worked at CNBC18 and UTVi Business News, and Kunte has worked with Ernst & Young (now EY) and PwC while Anant, an engineer and management graduate, has worked at UTV News Ltd, Bennett Coleman & Company Ltd, IRIS Ltd, Lintas Worldwide (Lowe & Partners) and Hindustan Petroleum Corporation Ltd.

"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,” Arun Giri & Ameya Kunte, founders, TaxSutra Services, said in a joint statement.

TaxSutra claims that over 5,000 tax professionals receive its daily alerts. Its subscribers include Fortune 500 companies, leading MNCs, tax firms, law firms and the regulators.

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