In September 2017, Nikunj Bubna was in the midst of raising another round of funds for the customer engagement and acquisition platform company he founded—Whats Extra India Private Limited. He had raised Rs 1.50 crore ($215,070) from angel investors nearly three years ago and signed up over 100 brands on his platform. His platform was one, where, while a customer made a payment, suggestions would pop up for items to be added to the purchase. Business was good. But there was trouble brewing. Except, Bubna didn’t know it yet.
In November-December 2016, he received a notice from the income tax office.