India

Accounting firm AKM Global provides various tax services such as direct and indirect tax, tax dispute resolution and transaction advisory. It mainly focuses on dealing with cross-border transactions and works with both companies and individuals having cross-border issues. Multinationals and foreign nationals make up approximately 97% of its client base. Amit Maheshwari and Sandeep Sehgal are the key partners.

Amit Maheshwari and the team recently assisted Perfect Day, a Gujarat-based listed company, with conducting financial and tax diligence for both direct and indirect taxes.

Client feedback

“Very communicative and thorough. They follow through.” 

Amicus Advocates & Solicitors started as a boutique transfer pricing practice and now is a full-service law firm with five partners. Ashutosh Mohan Rastogi heads the team. Its practice covers all areas of taxation including direct tax, international tax, transfer pricing and GST. It specialises in cross-border investment, transaction structuring and transfer pricing.  

The team recently secured a favorable order at the Income Tax Appellate level for DE Diamond Electric India. The court ruling regarding depreciation adjustment, forex adjustment and a cash profit ratio in this transfer pricing controversy matter that was influential for the automotive industry. 

Ashok Pranshu & Co has more than 30 years of experience in auditing and tax advisory services to businesses and individuals. Partner Pranshu Goel is the key practitioner in the team. He assisted the firm in strengthening the tax and litigation practice and specialises in individual income tax, corporate tax, international tax and transfer pricing.

One case study showed that Ashok Kumar Goel and Pranshu Goel led the team to represent JK Jain Sparky India and promoters in a tax controversy matter. The team represented the client before the investigation wing of the Income Tax Department and the assessment unit. 

Client feedback 

“Well-versed with all legal aspects, provisions and case law. Their experience added more value to deal with challenges and reply in constructive manner.” 

“Great response time, to the point advice, vast knowledge on tax laws and advice on multiple areas of the business. They are a great team.” 

“Consistency is one of the biggest strengths of the firm. The firm always treats all its work with importance while also recognising the value of prioritising.” 

Ajay Bahl is the head of the tax department at AZB & Partners. He focuses on tax advisory, corporate advisory and M&A for both domestic and international clients. Deepak Chopra leads the tax litigation team. He has more than 30 years of experience in tax advisory and litigation areas. The team provides practices including advisory, tax litigation, corporation tax planning and international tax. In addition, it works with other teams such as IP and competition law to ensure a holistic approach to its tax practice. 

One of the work highlights showed that Ajay Bahl and Deepak Chopra led the team and represented Google India in a tax controversy matter. The team was engaged to file an appeal before the Karnataka High Court and represented the client before the Income Tax Appellate Tribunal. It successfully procured a landmark decision in favor of Google. 

The India branch of international firm BDO has a significant footprint in the country, with more than 5,000 staff operating in offices in 11 cities nationwide. Its tax practice has more than 35 tax partners, whose backgrounds cover corporate tax, international tax, transactional tax, transfer pricing, expatriate tax, GST, customs and international trade, corporate laws, capital markets and regulatory. 

The team led by Bhavin Shah recently represented a France-based client before the revenue authorities for reassessment proceedings. It advised the client’s group entities based in France and Singapore on contesting the matter before appellate authorities. 

The team welcomed 14 new partners in 2022 to further strengthen its tax capabilities. 

The tax practice at Deloitte covers indirect tax, M&A, international tax and business taxation. It provides credible support to clients as a one-stop shop, from planning to litigation, identification of tax planning opportunities and opportunities for efficient working capital management. Deepa Dalal is one of the key practitioners on the team. 

One recent example of the firm’s work saw it assisting the state government in India with providing advisory services. The team is involved in reviewing state policies for a supportive and competitive incentives structure across all sectors. 

The tax team expanded during the research period by adding 10 new directors and a new executive director. 

Key partners Rohit Jain and Nishant Shah head the tax team at Economic Laws Practice. Its practice covers both indirect and direct taxes involving the entire spectrum of transactional, advisory and litigation work. It provides litigation assistance and represents clients in both adjudication and appellate proceedings. It also represents clients in various forums including the dispute resolution panel, the authority for advance rulings and the Supreme Court of India.  

The team recently assisted a client with providing tax due diligence, transaction structuring and transaction documentation services in an acquisition valued at US$40 million. It involved the transfer of a business segment on a global basis. 

Client feedback 

“The team provides thorough knowledge of the India GST law and positions, a strong capability in handling India GST litigation and an understanding of the business and the impact of India GST law on the same.” 

“Efficient and very good knowledge of the subject matter.” 

“The team at Economic Laws Practice has a great pool of lawyers/advocates possessing excellent knowledge of the relevant laws. They have team of extraordinary people who are great in research, drafting, advisory, etc. They provide best solutions to the problem.” 

“The partners and associates of this firm are highly technical, easy to work with, trustworthy and provide sound advisory services. They have an excellent knowledge in the industry where we operate.” 

“Good response time, good drafting and attention to detail.” 

Gaiea Consulting is a boutique firm that offers international tax and related services, including the entire gamut of advisory, compliance, representation and litigation support in the domains of cross-border tax, transfer pricing, expatriate tax, exchange control regulations (FEMA), FATCA and CRS and domestic tax. Gaurav Shah is the key partner in the team. 

One of the case studies showed that the team assisted a client with the entire Advance Pricing Agreement (APA) process. It assisted the client with concluding and signing the agreement, and also completing the APA audit. 

Client feedback 

“Their main positive attribute is that they are always available and are extremely patient in understanding our requirements.” 

“They were very good at providing clear guidance in related regulation and compliance issues along with thoughtful recommendations to our leadership team.” 

“Partners are personally involved in all matters ranging from advisory to reports. They are always available over phone, email, in person, whenever required. Moreover, they are updated on the happenings in the space of their professional practice.” 

“They have clear idea what they are doing and what they are providing to client. They are very thorough in their TP domain and I would say they are experts in that area. I blindly trust their services and they also follow commitments.” 

“Easy to work with and reach out to, collaborative, listens to customer issues prior to offering solutions, brings prior experience to bear when discussing complex issues and drive to the closure of issues.” 

“Honest, detailed, prompt in response to client queries, committed, supportive, reasonable in their charges and punctual.” 

“The partners of the firm providing the service are involved themselves in most of the discussions. They do have a solution-oriented approach.”

The tax and regulatory team at Grant Thornton Bharat provides services including direct tax, indirect tax, transfer pricing, transaction tax and US tax. It is also capable of litigation support, compliance and advisory services. It has developed a tool to help businesses comply with the requirements of e-invoicing and e-way bill without manual entry.

Partner Fatema Hunaid and the team recently assisted a client with filing an appeal before the Income Tax Appellate Tribunal regarding the transfer pricing adjustments and corporate tax disallowances made by tax officers.

Sohrab Bararia joined the team as executive director during the research period.

JMP Advisors’ tax practice covers areas including international taxation, domestic taxation, transfer pricing, M&A, GST, business laws and exchange control regulations and foreign investment consulting. Shibani Bakshi and Bhakti Shah are two of the key practitioners in the team.  

Details of the firm’s work and clients remain confidential. 

New executive director Vishal Shah joined the team in during the research period. Prior to joining JMP Advisors, he was with PwC India. 

Client feedback 

“Forthright, honest, present upside and downside, business-like approach.” 

“They know what filings are due and when and how to get them filed correctly.”

Khaitan & Co provides services including both direct tax and indirect tax. The team is comprised of lawyers and accountants who provide business-oriented actionable advice for clients. It offers such practices as deal structuring, transaction documentation and tax negotiations in M&A. Its client base covers large Indian business houses and high-net-worth individuals, insurers, PE houses and funds. In addition, it also works closely with international law firms across various jurisdictions, helping professionals provide a global understanding of complicated tax matters involved in inbound and outbound structuring issues. 

The team led by Sanjay Sanghvi continues to act as tax counsel to the client, Eversub India, in an ongoing transfer pricing-related dispute. It advised and represented the client before the Indian tax authorities and appellate authorities. 

Bhavin Vasantlal Vora and Hiten Kotak joined the firm as executive directors during the research period. 

Client feedback 

“Proactive, with deep knowledge, and practical.”

The tax practice is led by Uday Ved, who has more than three decades of experience and specialises in corporate tax and international tax practice. The indirect tax practice is led by Amitabh Khemka, who focuses on indirect tax and custom duty practice. The team provides services in respect of digital tax from indirect tax, VAT and GST perspectives in countries outside India. 

The team recently advised a foreign investor on its proposed inbound investment from an Indian income tax and foreign exchange control regulations perspective. The work involved reviewing the share purchase agreement and taxation-related documents. 

The team expanded recently by adding an associate partner N Krishna and two senior managers, Hetav Vasani and Suruchi Desai. 

Client feedback 

“The KNAV team is very competent and knowledgeable in navigating the complicated tax issues in India. We rely on their team's expertise to advise us on the best path forward to solve complex issues. They continue to deliver a quality work product to our team over the multiple private equity transactions we have done with KNAV in India.”

The team offers services including international tax, transfer pricing, indirect tax, deal advisory, M&A tax, global mobility services and tax technology and automation. With the support of other member firms' offices spread across the globe, it provides quality national and international tax advice. Partner Abhishek Jain is one of the key practitioners in the team and he oversees indirect tax practice.

A team led by Sunil Badala continues to assist a global private equity investor group in an ongoing India-Mauritius tax litigation. It handled the audit matter from each stage of audit proceedings, including the audit initiated by the tax officer, first appellate authority and second-level appellate authority.

L&L Partners is a full-service law firm. Its tax practice offers legal services in the areas of corporate tax, international tax, transaction tax, transfer pricing and litigation. It also provides legal advisory and representation services for indirect tax matters such as service tax and customs. Sanjeev Sachdeva and Vikas Srivastava are the key partners in the team.  

One recent example of the firm’s work saw it assist Max Life Insurance in a tax controversy matter. The work included advising the client on the investigation undertaken by the revenue authorities and representing the client before the tribunal.

Lakshmikumaran & Sridharan is an India member firm of a top international legal network, Terralex and First Law International. It provides solutions and assists the client from the adjudicatory level up to the Supreme Court, covering the areas of GST, customs, income tax and litigation. Charanya Lakshmikumaran is the key partner in the team.  

One of the team’s recent work highlights sees it assisting Sony, Nikon, and Canon as a lead counsel in a matter related to the denial of exemption under WTO notification to camera companies. 

Client feedback 

“Understands clients queries. Works with client to understand their standpoint. Conveys the opinion in a convincing way. Articulates well in dispute forums. A perfect representation.”

Majmudar & Partners is a full-service international law firm. Its tax practice covers cross-border tax structuring and tax planning, corporate and M&A tax, tax litigation and indirect tax advisory. Ravi Raghavan is the key partner for the tax and private client group. He specialises in corporate tax advisory, transfer pricing and tax litigation. New clients include CFRA Research and Acclime Holdings HK. 

Rukshad Davar and the team recently acted as an Indian legal counsel to CFRA Research for transactional tax matters. It reviewed and advised on the Indian transaction structure to prevent adverse tax consequences. 

Client feedback 

“The tax partner is very proactive in providing comprehensive tax advice.” 

“Timely. Thorough. Expertise.” 

“My clear and succinct answer to what is best about the team: Responsiveness.”

Nangia Andersen is the accredited tax consulting and advisory member firm of Andersen Global in India. The tax team offers services such as advising on risks associated with business disputes, providing essential global finance, accounting and reporting advisory functions, and strategising and supporting entry into the Indian and international markets. Rakesh Nangia is one of the key partners in the team. He is supported by the tax leader Aravind Srivatsan.  

One of the case studies showed that the team providing corporate tax advisory to a private limited company. The work included highlighting various tax issues arising from the acquisition of a business by way of slump sales under the business transfer agreement and assisting the client with filing its first corporate tax return. 

Partners Shailesh Kumar and Nirmal Singh left the firm during the research period. Over the same timeframe, the firm recruited four new partners to strengthen its tax practice. 

The law firm Shardul Amarchand Mangaldas & Co has a tax practice specialising in direct and indirect tax. It provides tax services ranging from tax planning, advisory and documentation to litigation. In addition, it is capable of tax investigation support. Amit Singhania, Gouri Puri and Abhay Sharma are the key partners for direct tax. Key clients include Walmart, TPG Group and Blue Water Energy. 

Other details of the firm’s work and clients remain confidential.

TMSL India was established in 2020 with six team members and has now expanded to 60 members across six offices in India. It focuses on Indian indirect taxes and GCC direct and indirect taxes. It specialises in providing tax technology services, such as validation and filing tools, e-invoicing and e-way bill generation solutions, and enterprise modernisation. In addition, it is capable of tax structuring and litigation support. 

One recent example of the firm’s work saw it assisting a leading foreign asset management company in an acquisition project. This acquisition of an Indian Mutual Fund house by the client involved US$425 million. The work included data transfer and obtaining GST registrations across the country for all new branches taken over, and being business-ready after acquisition. 

Sunil Kumar joined the team as senior manager during the research period. Prior to joining the firm, he worked for Taxmann.

Vaish Associates is a full-service law firm specialising in direct tax litigation. The team consists of lawyers and chartered accountants. It provides legal services to clients from the assessment stage to appellate proceedings before the Apex Court level. Partners Neeraj Jain, Rohit Jain and Kavita Jha are the key practitioners in the team for direct tax. Key clients include General Electric, Hindustan Unilever and LG Electronics. 

Partner Neeraj Jain recently led the team and represented United Airlines in a tax controversy before the Delhi bench of the tribunal. It successfully obtained a favorable ruling from the tribunal. 

Client feedback 

“Big team of experienced and well-versed lawyers and professionals, having vast experience in different technical and complex issues.”

Vispi T Patel & Associates is a boutique tax firm providing advisory and litigation services in the areas of direct tax, transfer pricing and international tax. In addition, it is also associated with D Arvind & Associates for indirect tax services. Suresh Dhoot, Kejal Visharia and Anwesha Bandyopadhyay are the key practitioners in the team. 

Details of the firm’s work and clients remain confidential. 

Client feedback 

“The team are updated with all latest developments in the field of taxation (including transfer pricing).” 

“Detail oriented, in-depth research, strategic approach in representation before tax authorities and appellate authorities.” 

TransPrice Tax Advisors is a network partner firm of Quantera Global. It focuses on transfer pricing and international taxation for global and Indian multinationals. It offers global transfer pricing documentation service including various jurisdictions’ local files, master files and CbCR assignments. In addition, it is also capable of resolving disputes with tax authorities. Akshay Kenkre and Suraj Agrawal are the key practitioners in the team. 

One case study showed that the team led by Kenkre acted as a strategic advisor for a client group from the technology sector. The work involved structuring and restructuring global business operations in India and other jurisdictions such as the US and Africa. It also set up standard operating procedures for the tax and finance teams of the client group. 

The team recently welcomed two new partners Aashna Mulgaonkar and Abir Mulgaonkar. Before joining the team, both worked in the UAE. 

Client feedback 

“They came with the good arguments to put forth to the tax officer and prove the point legally. Very methodical in approach.” 

“Knowledgeable about their work, prompt in responses, eager to do more than expected.”