Deloitte Unveils ‘Tax Pragya’ AI Platform to Boost Client Insight and Efficiency

According to a business spokesman on 7 December, Deloitte will introduce an AI-powered platform called "Tax Pragya" this week to help its clients obtain tax research and insights more quickly. According to Deloitte India Partner Sumit Singhania, Tax Pragya, which is scheduled for debut on December 9, was constructed using direct and indirect tax-related data on more than a million court cases as well as Deloitte's knowledge solution papers to provide faster and more accurate access to the insights.

Earlier, before providing their clients with comments, tax analysts used to spend hours researching different court rulings. Instead of using open-source data, Tax Pragya will reduce that time to a few minutes and offer solutions from Deloitte's carefully selected database.

The business added, "Tax Pragya, an internal tool, is revolutionising the way more than 4,000 Deloitte tax professionals in South Asia provide their clients with superior tax solutions. By fusing its cutting-edge AI research engine with knowledgeable human input, Tax Pragya is revolutionising the industry. This ground-breaking platform opens the door for ongoing updates, improving the experience and value for both clients and tax professionals. It is trained on a vast data bank that comprises an internal knowledge base and a variety of court rulings."

Tax Pragya to Provide Real Time Data

Singhania stated that before the changes in the income tax law take effect on April 1, TaxPragya will provide statistics on the pronouncements made in the Budget in nearly real-time. "Tax Pragya is an AI-powered tax, research, and insight platform," Singhania told PTI. Two decades of Deloitte tax expertise, perspective, and jurisprudence enhance it.

The objective is to transition from a platform that relies heavily on knowledge to one that is insightful. It's an agentic approach in which we magnify the research, give it greater significance, and make it easily applicable. According to him, Tax Pragya will be a B2B subscription-based platform that will just speed up the tax research process rather than take the role of tax experts.

500 Clients of Deloitte to Get Access of Tax Pragya

Tax Pragya will be made available to 500 Deloitte clients in the first phase of its debut on December 9. Phase 2 will be made available to all 5,000 Deloitte clients in January. By June of next year, Deloitte should be able to expand throughout India by providing MSMEs and SMEs with this subscription-based platform. Singhania continued. According to Singhania, the company's goal is for Tax Pragya to grow to the point where it can provide legal or tax advice within the next 12 to 18 months. In order to determine whether or not a taxpayer should file a lawsuit, it should provide a predictive analysis of a tax notification.