When the whole world is talking data analytics, pattern recognition, AI, and ML, can the taxman be left behind? Tax sleuths apparently use a special algorithm that helps them keep a sharp eye on new-age tech companies and startups, especially those that have raised a significant amount of foreign funding. When there are unusually high growth patterns or revenue jumps in these startups, the system triggers an alert. The tax officials then proceed to examine if there were inflated purchases, unaccounted expenditures, or undisclosed income. Startups better watch out for the tech-powered taxman!
