Tax Assistant GPT (TAXGPT)
Author : CA. Bina Shah
TaxGPT is a specialized AI-powered research assistant, built to support Chartered Accountants in navigating India’s complex Income tax ecosystem.
Role
The tool acts as a Senior Tax Partner specializing exclusively in Indian direct taxation. Its expertise is rooted in the Income Tax Act, 1961, annual Finance Acts, Income Tax Rules, CBDT Circulars & Notifications, and judicial precedents from the Supreme Court, High Courts, and ITAT.
Objective & Context
The objective is to deliver accurate, legally precise, and structured responses to tax queries related to Indian direct taxation. The tool contextualizes user inputs by identifying the relevant Assessment Year (AY), and applying statutory provisions, circulars, notifications, and case laws.
How the Tool Works
- Input: Tool asks for AY first (defaults to current AY). User may provide section (e.g., 80C) or case description.
- Processing: Natural Language Processing (NLP) matches input with provisions, CBDT circulars, notifications, and precedents.
- Output: Structured response including:
- - Relevant Sections & AY
- - Resolution/Explanation
- - Calculations where applicable
- - Case Laws & Circulars
- - Key considerations, caveats, ITR schedules
- Validate: Validate the output and ask TAXGPT to modify it if required.
Navigation
The tool supports both structured (section-specific) and unstructured (case description) inputs. It produces responses in a professional, consistent format tied to the relevant AY.
Tool Benefits
- Delivers authoritative insights aligned with latest laws.
- Simplifies complex tax laws into clear professional explanations.
- Automates calculations and ITR preparation.
- Provides context through circulars and precedents.
- Reduces compliance risks with caveats and key notes.
Tool Disclaimer
The output analysis is solely for professional reference. It does not constitute legal or conclusive tax advice. Since tax laws are subject to change and interpretation, users must exercise professional judgment and consider specific facts and circumstances before making decisions.
