Deloitte announces AI-powered 'Tax Pragya' platform: What does it do?
What's the story
Deloitte has announced the launch of its new artificial intelligence (AI) platform, 'Tax Pragya.' The innovative tool is designed to expedite tax research and insights for clients. Tax Pragya will be officially launched on December 9, according to Sumit Singhania, a partner at Deloitte India. The platform contains direct and indirect tax-related data from over a million court cases as well as Deloitte's knowledge solution papers.
Efficiency boost
A game-changer in tax research
Tax Pragya is set to revolutionize the way tax analysts work. Currently, these professionals spend hours researching various court judgments before providing feedback to clients. With Tax Pragya, this process will be reduced to just a few minutes. The platform provides solutions from Deloitte's privately curated database instead of open-source data, ensuring quicker and more accurate insights for clients.
Platform evolution
A blend of knowledge and insight
Singhania described Tax Pragya as an "AI-powered tax, research and insight platform" enriched with two decades of Deloitte tax knowledge, perspective, and jurisprudence. The platform aims to transition from being a knowledge-intensive tool to one that provides insights. "It's an agentic solution where we amplify the research, make it more meaningful," Singhania told PTI.
Feature highlight
Tax Pragya to provide real-time data on budget announcements
Tax Pragya will also provide near real-time data on budget announcements and the changes in income tax law before they come into effect from April 1. The platform is a B2B subscription-based service that aims to simplify tax research without replacing tax consultants. "The vision we have is, in the next 12-18 months, Tax Pragya should develop in a way that it can write some legal or tax opinions," Singhania said.
Launch strategy
Tax Pragya's phased rollout plan
The initial phase of Tax Pragya's launch on December 9 will be offered to 500 Deloitte clients. The second phase, starting in January, will expand the platform's availability to all 5,000 clients. By June next year, Deloitte plans to make this subscription-based platform available across India for MSMEs and SMEs.