The Indian government is committed to creating a non-adversarial and stable tax regime, providing greater certainty and clarity to taxpayers. "A new era in tax has indeed begun," said Dinesh Kanabar of Dhruva Advisors. "There is greater focus on providing certainty to taxpayers, there is widespread engagement and consultation with all stakeholders and there is a perceptible willingness on the part of the government to focus on the big picture and to realise the long-term benefits of tax reform."
At the Rajasva Gyan Sangam conference held on June 16 2016, Indian Prime Minister Narendra Modi instructed tax officials to combat the "trust deficit" brought about by years of aggressive negotiations between the tax authorities and taxpayers. He suggested the "RAPID approach" – Revenue, Accountability, Probity, Information and Digitisation.
"India is now moving towards becoming a non-adversarial tax regime. The aim is to ensure that officials neither trouble nor hassle the taxpayers, as long as they are paying the taxes honestly," said Amit Maheshwari, head of tax at Ashok Maheshwary & Associates. "Various circulars, notifications and clarifications are issued time to time to make sure that taxpayers get to know beforehand what needs to be done and what not to, rather than getting into litigation and get informed through the court judgments. The entire tax department has become much more proactive under the new government."
While the government is providing a lot more certainty to 'honest taxpayers' by adopting a business-friendly approach, it is, on the other hand, taking serious and strict actions against tax evaders. The government has made a lot of changes in the law to firmly prohibit tax evasion, such as the introduction of Black Money (undisclosed foreign income and assets) and Imposition of Tax Act, 2015, which came into effect on July 1 2015.
Under the Act, a one-time compliance opportunity to declare previously undisclosed foreign income was made available but a tax at 30% is imposed on undisclosed foreign income and assets.
After extensive negotiations, amendments to India's double tax avoidance agreement (DTAA) with Mauritius have finally been concluded, allowing India to tax the capital gains on share transactions made by Mauritian entities in India from April 2017. India is also negotiating changes to its DTAAs with other jurisdictions such as Cyprus and Singapore.
On the indirect tax side, there are two significant trends in the jurisdiction. The first trend is excessive tax litigation in respect to transactions involving intangibles such as licensing of intellectual property, franchising, e-commerce aggregators, and transfer of development rights, among others.
The other trend is the government's commitment to introduce a uniform national GST replacing multiple state-level indirect taxes. "[The] introduction of GST will be the biggest tax reform in 69 years of independent India," said Nihal Kothari, indirect tax leader at Khaitan & Co. "GST is an extremely positive tax reform in terms of indirect tax, removing multiple overlapping taxes which lead to litigation and corruption. This will also lead India to a clean and non-adversarial tax regime and it will act as a complete game changer."
The tax is expected to simplify tax administration and ensure better business environment. "This is the time when businesses have started aligning their business model/structure with the proposed tax structure to plug potential leakages and obviate loss of profits with the help of professional firms," added Kothari.
Headquartered in Delhi NCR, Ashok Maheshwary & Associates LLP is a leading full service accounting and tax firm in India. With offices in New Delhi, Gurgaon, Mumbai, Pune, Bangalore and Singapore, the firm provides an array of services including International Tax Advisory, Business Advisory, Tax & Regulatory Compliance, Assurance, Transaction Advisory, Valuation, M&A Tax, India Entry Strategy and Transfer Pricing Study & Documentation to a wide range of clients. The firm's clients include Fortune 1000, Fortune 500 companies, Listed Multinationals, Listed Companies, Privately held Multinationals, Funds, Investment Firms, Asset Management Companies, Exciting start-ups, Large Domestic Corporate houses, NRIs and Expatriates.
The firm's International Tax and Foreign Exchange Management ('FEMA') practice is led by Amit Maheshwari, who serves as a Managing Partner at the firm and is a leading tax expert in India. The firm provides it's services span India and across the globe though its' alliance networks. The firm is a member of Leading Edge Alliance, the fourth largest global association of accounting firms in the world having 2,270 partners, 16,888 professional staff, 600 office in 107 countries.
The firm is known for high quality advice while maintaining excellent turnaround time. It specializes in handling complex tax advisory and structuring assignments by providing cutting edge opinions with practical insights. The firm, through its participation in various prestigious committees of Industry chambers, works with the government on various tax and regulatory matters. The clients benefit from the deep insight which the partners bring on the various existing/proposed policy formulations of the government.
Amit Maheshwari has also authored books on Expat taxation, NRI Taxation and Transfer pricing in India with Wolters Kluwer (CCH) and Lexis Nexis.
T: + 91 124 4637533
M: +91 98101 88104
T: + 91 124 4637532
M: +91 9811987402
Merchant Chamber, 3rd Floor,
41, New Marine Lines,
Mumbai – 400 020. India.
Tel. Nos.: +9122 – 22004002
Fax No. : +9122 – 22050147
Email : email@example.com
Web site: http://www.bsmco.net
Chief Mentor: Bansi S. Mehta
Established in 1958, practicing in Income Tax, Valuations & Business Restructuring, and representation before the Income Tax & Service Tax authorities/Tribunals, Tax/ Statutory audits, Transfer Pricing/Related Party Transactions/Internal Financial Control study & Indian Accounting Standards (Ind AS) consultation/valuation and allied services.
BMR Advisors is a professional services firm offering a range of Tax, Risk and M&A advisory services for domestic and global businesses. The firm enhances value for clients by focusing on solutions that are innovative yet practical, such that these can be implemented. This is achieved by blending domain expertise with analytical rigour while maintaining an uncompromising focus on quality, and by hiring and nurturing high quality professionals with a passion for excellence. The firm has won the confidence of numerous Fortune 500 companies and has been consistently ranked amongst the top Tax and M&A brands by several independent surveys.
BMR and Community
The firm actively supports the work of SOS Children's Village, Indian Red Cross Society and MillionTrees Gurgaon campaign.
Locations: Delhi NCR, Mumbai, Bangalore, Pune, Chennai
BMR Advisors, is exclusively, Taxand India.
(ICAI Registration Number: 117366W/W-100018)
Indiabulls Finance Centre, Tower 3, 28th Floor,
Senapati Bapat Marg, Elphinstone Road (W), Mumbai – 400013
Vipul R. Jhaveri
Managing Partner – Tax
Tel No: + 91 22 6185 4190
Deloitte Tax India has over 1600 professionals across 8 locations in India.
Deloitte Tax in India is organized through 5 service lines – Global Business Tax, Global Employer Services, Transfer Pricing, Indirect Tax and Mergers & Acquisitions Tax.
Dhruva Advisors LLP
One Indiabulls Centre
Tower 2B, 1101-02
Mumbai 400 013
Tel: +91-22-6108 1000
Ahmedabad, Bengaluru, Delhi and Singapore
Dinesh Kanabar, CEO
Tel: +91-22-6108 1010
Dhruva's journey began in November 2014 with a group of 4 partners and 35 professionals coming together to create a high quality tax and regulatory boutique. Today, it is regarded as the go-to-firm in India for complex M&A transactions, restructuring and tax controversies. The team at Dhruva now comprises of 15 partners and over 150 professionals across locations. The Firm was also recognized as the 'Best Newcomer of the Year-Asia' by International Tax Review.
The Firm's client roster comprises of several marquee names including large multinationals and Indian conglomerates. It also regularly advises several high net worth individuals and families on domestic and international tax issues.
Collaboration, innovation and technical expertise lie at the heart of Dhruva's service capabilities. This has helped build a strong track record of designing and implementing path-breaking solutions for clients across industry sectors.
Dhruva advises clients on a wide range of domestic and cross-border tax and regulatory issues, including in relation to M&A, entry strategy, funding, supply chain structuring, IPR planning and cash repatriation. Its services also include assistance in tax controversies, including through use of mutual agreement procedure and arbitration under bilateral investment treaties. The Firm also has strong indirect tax advisory, litigation and compliance capabilities.
Dhruva works closely with industry bodies and the Government on various tax and regulatory matters. It also provides clients with insights into the policy landscape in India and assists them engaging with the Government.
It is a member of WTS Global.
109 A, 1st Floor
Free Press Journal Road
Mumbai 400 021 India
Tel: +91 22 6636 7000
Fax: +91 22 6636 7172
Other Offices: Delhi, Pune, Ahmedabad, Chennai and Bangalore
Economic Laws Practice ("ELP") is a leading full-service Indian law firm established in the year 2001 by eminent lawyers from diverse fields. The firm has a unique positioning from the perspective of offering comprehensive services across both indirect and direct taxes (including transfer pricing) covering the entire spectrum of transactional, advisory and litigation work. With a team of over 80 tax professionals, and offices in 6 major cities in India; ELP is the firm of choice for its clients due to its commitment to deliver excellence. ELP has, amongst its various achievements, been recognised as an Outstanding Firm for Tax by Asialaw Profiles 2016, has been awarded the Taxation Firm of the Year award in India Business Law Journal's Indian Law Firm Awards consistently for the past 7 years and has won the Best Tax Firm of the Year award in LegalEra Awards 2014 & 2015.
Ernst & Young LLP
Golf View Corporate Tower B,
Sector 42, Sector Road,
Gurgaon, Haryana 122002
Tel: +91 12 4464 4000
Country Tax Leader
Tel: +91 22 6192 0900
Tax Markets Leader
Tel: +91 22 6192 0970
Tax Market Segment Leaders
Tel: +91 22 6192 0480
Infrastructure, Industrial and Consumer Products (North)
Tel: +91 12 0671 7110
Infrastructure, Industrial and Consumer Products (West)
Tel: +91 22 6192 2014
Telecommunications, Media & Technology
Tel: +91 226 192 0870
Tax Sub-service Line Leaders
Business Tax Services
Tel: +91 124 671 4943
Global, Compliance & Reporting
Tel: +91 80 6608 6832
Indirect Tax Services
Tel: +91 12 4671 4103
International Tax Services
Tel: +91 40 6736 2078
Transfer Pricing Services
Tel: +91 114 363 3240
People Advisory Services
Tel: +91 11 43633160
Transaction Tax Services
Tel: +91 22 6192 0900
Key Tax Solution Leaders
Tax Controversy / Policy Advisory Services
Tel: +91 120 671 7110
Tax Performance Advisory
Tel: + 91 124 4644780
Family Business Services
Tel: +91 226 192 0870
Tel: + 91 124 4644220
Accounting, Compliance & Reporting
Corporate Secretarial Services
Tel: +91 80 6608 6832
Nangia & Co is a leading integrated multidisciplinary professional firm serving a significant number of Fortune 500 clients and has clientele across 22 countries. The firm has one of the largest corporate tax, transaction tax and transfer pricing practice in India with its offices in Noida, New Delhi, Gurgaon, Mumbai, Dehradun and international office in Singapore. Thorough national and international alliances the firm is able to deliver quality services to its clients in India / abroad.
Established for more than 30 years now, the firm caters to all industry sectors and has a distinguished Oil and Gas cum energy practice and is regarded as the largest and most experienced tax advisory firm in India in the Oil and Gas sector. The firms service offerings spans various other industry sectors viz. Hotels and Hospitality, Infrastructure, Manufacturing, Engineering, Software, Automotive and Media.
The firm's specialization is gained from a rapid function based and industry tailored services delivered by a team of more than 150 professionals who draw their strength from its leadership team which includes 14 partners and directors, with considerable experience in advising several large multi-national and Indian conglomerates on various matters involving direct and indirect taxes, cross border structuring, M&A transactions, transfer pricing structuring etc.
The firm has implemented the highest level of service delivery and ethical standards. It is also registered with the Public Company Accounting Oversight Board (private sector, nonprofit corporation, created under the Sarbanes-Oxley Act) in USA.
Service offerings include:
a) Income tax consulting and advisory;
b) International tax and cross border structuring;
c) GST Advisory and implementation;
d) Indirect tax compliance and advisory;
e) Comprehensive tax litigation;
f) Transfer pricing advisory, compliance and litigation;
g) Mergers and acquisitions;
h) Corporate finance;
i) Fund raising;
j) Corporate advisory and restructuring;
k) Business intelligence and analytics; and
l) Audit and assurance.
Company contact details
SKP Business Consulting LLP
19, Adi Marzban Path
Ballard Estate, Fort
Mumbai 400 001
Tel: + 91 22 6730 9000
Other Locations: Bengaluru, Chennai, Hyderabad, New Delhi, Pune
Contact: Maulik Doshi
SKP is a long established and rapidly growing professional services group located in seven major cities across India. SKP specialises in delivering sound Assurance, Business Advisory, Business Process Management and Tax Compliance services. Our team of over 1000 professionals, work together to provide holistic business solutions to international companies that are currently conducting or initiating business in India as well as those expanding overseas.
|Corporate Income Tax||30%||A|
|Capital Gains Tax||20%||A|
|Net Operating Losses (years)|
|Technical services||10%||A B E F|
|Interest paid to residents: Corporations||10%||B C|
|Interest paid to non-residents: Corporations||20%||A B C D E|
|Royalties from, for example, patents, know-how||10%||A B E F|
|Branch Remittance Tax||0%|
Advaita Legal is a boutique law firm led by Sujit Ghosh with the support of 28 other professionals, providing effective legal solutions for clients offering tax advisory services regarding to infrastructure and mining, employment, corporate, M&A etc.
The tax team combines its legal expertise in a various array of disciplines, matters, and sectors with its comprehensive understanding of administrative, regulatory and legislative developments to provide clients with a full service.
The firm's key clients are in the energy and utilities, financial services, government, mining and metals, and pharmaceuticals and life sciences industries.
Certain amendments were introduced in the service tax law in the union budget 2015 to tax activities such as promotion, marketing, selling or facilitating in organising lottery of any kind by a lottery distributor or selling agent for the state organising lottery. Advaita Legal successfully challenged the said amendments made to the service tax law before the high court of Sikkim for its client, Future Gaming and Hotel Services.
Shreyas Shah is the leader of the tax practice at Ambalal Thakkar & Associates. Shah specialises in tax consultancy, international taxation, business restructuring, transaction structuring, business valuation and transfer pricing with more than 10 years of experience at the firm.
The tax practice focuses on the areas of real estate, healthcare, financial services, aviation, logistics and shipping, tourism and hospitality and software development.
The tax practice of Ashok Maheshwary & Associates comprises three partners and 45 professionals. Managing partner Amit Maheshwari oversees both tax and transfer pricing. The tax team has added three new members in the past year.
Maheshwari is certified as an expert in international taxation and in valuation by the Institute of Chartered Accountants of India (ICAI), and leads Ashok Maheshwary's international tax and foreign exchange practice. He is also a regular speaker at a number of international conferences as well as Indian Tax Forum held by International Tax Review.
The tax team provides services in a wide range of industries, mainly in the construction, healthcare, computers, software, online and digital services, TMT and energy and utilities industries.
The firm's core practice areas include tax advisory, tax compliance, litigation, transfer pricing, documentation, tax assessments, advance pricing agreements, cross-border tax advice, M&A tax and transaction structuring.
Maheshwari and other two associates, Sandeep Sehgal and Rahul Aggarwal, were involved in the establishment of multiple entities including a project office, a joint venture and a subsidiary for a solar power plant operator in India.
BDO India is one of the largest tax and legal service providers in India, comprising of 20 partners and 224 other professionals skilled in domestic and international tax matters. Milind Kothari is the managing partner and head of tax, including transfer pricing.
Kothari was one of the partners presenting on the bankruptcy code to the Joint Committee on Insolvency and Bankruptcy Code Cell. Also, he was the main speaker at the Foundation of International Taxation on Impact of BEPS on emerging and developing economies.
BDO India's tax practice provides specific service lines for each main practice area, such as tax advisory and compliance, transactional compliance involving cross-border taxation and transfer pricing, indirect tax involving health checks, multi-state VAT and GST.
A team including Kothari and direct tax partner Jiger Saiya advised an Indian contract manufacturer on structuring its investment and business operations considering regulatory, tax and transfer pricing aspects as the client wanted to enter generic pharma business for markets outside India. The deal was valued at $298 million and was completed in March 2016.
The tax practice of BMR Advisors, Taxand India has a strong line up of 25 partners and 365 other professionals. Gokul Chaudhri is the leader of the direct tax practice and Rajeev Dimri is the leader of the indirect tax practice. The practice has welcomed three new partners in the past year.
The firm offers a wide range of tax, M&A and risk advisory services. Tax and regulatory services include corporate tax, international tax, transaction tax, transfer pricing, indirect tax, GST, tax policy and tax dispute resolution.
Over the past decade, the firm has built a creditable presence in several sectors: energy and infrastructure, retail and real estate, financial services, media and entertainment, technology and communications, defence, automobiles and manufacturing.
The tax team has worked on several critical assignments, such as providing advisory assistance to a large multinational e-commerce company which is, among other things, engaged in provision of digital and physical goods, services and operating an e-commerce platform.
The offerings of the multinational group are constantly expanding through the launch of new businesses such as cloud computing and e-books. Some of these are unique, first-time offerings for which tax issues in India are largely unprecedented and also pose uncertainties, especially considering the current global tax landscape. The work performed is challenging as it requires adapting to evolving tax and regulatory rules in the digital industry and aligning it with regulations across jurisdictions.
Cyril Amarchand Mangaldas, led by S R Patnaik, houses two partners and 12 professionals who provide various tax services. Patnaik has more than 15 years of experience in all aspects of direct tax involving international tax, corporate tax and transfer pricing in the sectors of infrastructure, IT, pharmaceuticals, hospitality, private equity and real estate.
The services provided by the tax practice include transactional and structuring services including comparative jurisdictional analyses, equity restructuring, corporate restructuring, representation before the tax authorities involving complex tax issues such as obtaining advance rulings, dispute resolution, corporate tax advisory services including determination of permanent establishment, assessment of withholding tax obligations and more.
The team, led by Patnaik, advised Yokohama Rubber on various tax aspects of the purchase of 100% of the share capital of Alliance Tire Group, including withholding tax obligations. The team had to examine the implications of the indirect transfer of shares involing an intermediary holding company and its implications from an Indian perspective, the availability of treaty benefits to offshore sellers and more. The team coordinated with lawyers across jurisdictions. The deal was completed in March 2016 and was worth around $1.2 billion.
Deloitte operates an extensive tax practice in India that comprises 68 partners and more than 1400 other tax professionals with combined skills of rich technical expertise and diverse industry experience. There has been a change in leadership as M Lakshminarayanan has retired from the firm after nearly 40 years. Vipul Jhaveri has taken over the tax team as a managing partner. He has years of M&A and corporate taxation experience. There have been many new hires in the past year, including two partners and four directors.
One of the notable partners at the firm is Anil Talreja, who has been part of Deloitte for more than 21 years and has vast consumer business experience. He has been involved in providing tax structuring services and tax due diligence for numerous clients, including listed companies in India, and he also specialises in group restructuring involving mergers, demergers, spin-offs and post-merger integration.
The firm advises on a wide range of industries and is particularly strong in energy and resources, technology, media & telecommunications (TMT), financial services, consumer business and manufacturing. During 2015-2016, the manufacturing sector contributed almost a quarter of Deloitte India tax's services.
DH Consultants's tax services include direct tax, such as domestic tax, international tax, inbound and outbound investments, special advisory, transfer pricing, financial services, indirect tax, advisory and litigation services, VAT, customs, dispute resolution and GST implementation services.
Dilip Desai is the firm's chairman and specialises in corporate finance and advisory and corporate tax including direct and indirect tax, both domestic and international. He has more than 30 years of experience and has participated in numerous seminars in India and across the border.
Dinesh Kanabar, founder of Dhruva Advisors, heads the tax and transfer pricing practice. It has offices in Mumbai, Delhi, Ahmedabad and Bengaluru. It extended its footprint globally by setting up an office in Singapore. The tax team has 19 partners and 133 tax professionals. Nine senior professionals have been added to the team including Punit Shah, Krishan Malhotra, Sandeep Bhalla and Umesh Gala.
The firm is specialised in tax controversy management, handling complex tax issues in M&A transactional and involvement in tax policy reform. The firm frequently represents and advises clients in tax disputes including through alternative mechanisms such as advance pricing arrangements (APAs) and mutual agreement procedures (MAPs) under tax treaties as well as arbitration under bilateral investment promotion agreements.
Kanabar and Shah advised SI Advisors on the acquisition of General Electric Group's financial services businesses in India. This transaction was one of the largest undertaken in the Indian financial services space in recent years. The firm's service involved performing tax due diligence and evolving a complex deal structure to ensure that the financing terms complied with the company's long term tax, regulatory and commercial objectives. The deal was completed in December 2015 and was ultimately valued at approximately $300 million.
With a combined team of tax advisory, structuring and litigation specialists and professionals which includes 15 partners and about 59 other professionals, Economic Laws Practice is headed by Rohan Shah.
In a typical year, the tax team handles more 400 cases, dealing with customs, excise, service tax, VAT, foreign trade policy, transfer pricing and other allied laws, rules & regulations. The team also provides advisory services on policy matters.
In the past 12 months, the team has been instrumental in successfully representing various industry associations, sectors and clients before the ministry of finance and its functionaries on various issues vexing business operations.
EY provides a wide range of tax services to ensure clients' compliance with their local and international obligations. Its tax practice in India offers advisory, corporate tax, transfer pricing, strategies and compliance and tax accounting. Sudhir Kapadia leads the firm's tax department.
G. M. Kapadia & Co provides services in the areas of audit and assurance, tax and regulatory, transaction advisory and accounting and compliance. Its tax practice is directed by Ashwin Damania, the managing partner of the firm. The firm has 14 partners and nearly 200 other professionals across its offices comprising competent accountants, tax and audit assistants.
Damania leads the firm's direct tax, consultancy and exchange control laws practices with over 25 years' involvement in the arenas of taxation and foreign investment. He is principally responsible for all domestic and international tax compliance subjects.
The tax and regulatory department at Grant Thornton in India is jointly managed by Riaz Thingna, in charge of corporate tax, and Amit Sarkar, indirect tax leader. They manage eight partners and more than 130 other fee earners.
The firm has 13 offices spread across India and the professionals focus on advisory services in respect of all kinds of tax matters such as transaction structuring, group restructuring, inbound and outbound investments, withholding tax, litigation and compliance services under tax and foreign exchange regulations.
The tax professionals at the firm are knowledgeable in various industries with particular emphasis on consumer products, healthcare and life sciences, media and entertainment, non-profit and real estate and construction.
In June 2015, the team advised a large financial services company on group restructuring consisting of more than 20 entities. The structures were suggested keeping in mind the various parameters such as revenue model, operational efficiency, regulatory requirements and tax efficiency. Partner Riaz Thingna led the case.
Nand Kishore is a partner at HSA Advocates specialising in the areas of taxation and litigation. He has expertise in both direct and indirect tax particularly in excise, customs, service tax and foreign trade policies.
The tax practice offers direct tax including corporate tax, M&A, indirect taxes and disputes and litigation services with its focus on the sectors of banking and finance, environment, infrastructure and energy, real estate, and TMT.
JMP Advisors is a professional service firm offering advisory, tax and regulatory services. Jairaj Purandare leads the tax practice and is the founder of the firm. He has more than 30 years of experience in tax and business advisory. He was previously regional managing partner at PwC and chairman of EY.
The practice has built a new team specialising in indirect taxes involving customs duty, excise duty, service tax, VAT and proposed GST. The team indirect tax team is led by Shrikant Kamat, who has more than two decades of experience in the field of indirect taxation.
The firm has also strengthened its direct tax team with arrival of Rajesh Athavale. He has more than 20 years of corporate tax experience focusing on transfer pricing, international tax and litigation.
The team helped a client, a large Indian group in the food industry, to exit from a joint venture arrangement in a tax-efficient manner. This included advising in connection with the amalgamation of group companies and maximising tax benefits arising on such amalgamation and also assisting in connection with the family arrangement.
Khaitan & Co's tax practice comprises a direct and an indirect team headed by Daksha Baxi and Nihal Kothari respectively. The practice consists of six partners and 14 professionals with mix of accountants and lawyers providing seamless and integrated services between tax and other practices.
Baxi focuses on advising direct tax including the structuring of inbound and outbound investments, India entry strategies for non-profit organisations, asset protection and tax efficient wealth management, business and family succession planning and the structuring of employee equity compensation. Kothari has expertise in indirect tax litigation and advisory, Indian foreign trade policy, export incentives and exemptions and tax-efficient business planning and restructuring.
The direct tax team was engaged by Temasek Group for its investment in shares of Etechaces Marketing And Consulting Private Limited. The team was involved in various aspects of the transaction such as documentation, structuring and negotiations. A key challenge in the deal was negotiating mutually satisfactory tax terms given within the limited elbow room available due to the global policies of the parties involved in the transaction. This deal was completed in October 2015 and was valued at approximately $36 million.
Girish Vanvari heads the tax practice of KPMG in India, which has 69 partners and over 1,873 professionals offering over 100 products that are tailored to meet client and market demand. One partner, Sanjay Kapadia, and four executive directors have joined the Mumbai office in the past year.
Vanvari has more than 20 years of advisory experience in large M&A deals, restructuring transactions and helping numerous large organisations navigate through dynamic tax and regulatory framework in India. He is also a regular speaker at various tax-related conferences as well as a contributor to several newspapers and magazines.
The firm offers the full scope of tax-related advisory services including international tax, dispute resolution management, indirect tax, global mobility services, M&A and transfer pricing.
The team offers services to almost every industry, appearing in consumer markets, education, financial services, healthcare, defence, energy and resource, IT and telecommunications.
V. Lakshmikumaran is managing partner and founder of Lakshmikumaran & Sridharan. The firm's tax practice includes 23 partners and 190 professionals specialising in all dimensions of taxation including excise, customs, service tax, VAT and income tax, with an emphasis on industries such as manufacturing, computer and digital, energy, agriculture and food and transport.
Parthasarathy R is a principal partner and heads the intellectual property team of the firm. He has represented several exporters, importers and local industry in anti-dumping, anti-subsidy and safeguarding investigations worldwide.
The firm has one of the largest GST practices in India. The firm claimed close to 500 cases across India at the Custom Excise & Service Tax Appellate Tribunal (CESTAT), including most of the larger bench matters during the year.
Banks and financial institutions, regional operating headquarters, manufacturing, power and energy and digital and software businesses are the prime industries the firm's tax practice advises.
The team, including Lakshmikumaran, G. Shivadass (principal partner), N. Mathivanan (principal partner), Anshul Mathur (joint partner) and Syed Peeran worked on service tax, VAT and entry tax advisory on transactions undertaken by Amazon Seller Services Private Limited under the marketplace model. The tax team provided tax advisory and validated various documents relating to the transaction.
The tax practice group at Luthra & Luthra provides comprehensive assistance and technical tax solutions with the team composing of lawyers, chartered accountants and tax specialists.
The practice advises high profile clients, both domestic and multinational, operating in a variety of sectors including aviation, automobile, retail, real estate, infrastructure, media and entertainment, hospitality, IT and investment funds.
The main practice areas of tax are direct taxes, indirect taxes and tax litigation. A representative sample of the firm's clients is: Bank of America, Ballarpur Industries, Changi Airport, Nokia, TATA Group, SONY, Swarovski, Rolls Royce Group, HSBC Group and Toshiba Corporation.
Majmudar & Partners comprises three partners and five professionals. Akil Hirani leads the firm's tax team.
The firm's tax team provides services including permanent establishment analysis, fund structuring, structuring investments into India and out of India, structuring technology transfers and IP licensing, advice on withholding taxes, customs duty, service tax, VAT and other advisory works.
In the last year, the tax practice worked on various deal structuring issues, international tax treaty perpetration, permanent establishment issues, M&A deals and filings before the Authority for Advance Rulings.
The team advised Japanese multinational Nippon Soda Corporation, which is engaged in the manufacturing of chemical products and seeking to launch a business platform in India. This matter involved complex Indian tax issues including possibility of contemplated structure in India, transfer pricing applicability, filing tax returns etc. The matter was completed in September 2015.
Nangia & Co's tax and transaction advisory practice, headquartered in Delhi, has offices in Mumbai, Dehradun and Singapore. Rakesh Nangia is the firm's managing partner and head of overall tax and transaction tax advisory. Partner Amit Agarwal also looks after transfer pricing, tax and transaction tax advisory with Nangia. The firm has eight partners and 170 other professionals, many of whom have experience working for the Big 4.
In terms of practice areas, the team is able to provide services including international tax, income tax, indirect tax, transfer pricing, litigation, corporate restructuring, audit and assurance, business valuation, joint ventures and M&A.
The firm is particularly strong in advising the oil and gas and hospitality sectors. In addition, the firm provides tax and advisory services to more than 80 multinationals across a range of industries including pharmaceuticals, IT, infrastructure, automotive, transport and TMT.
Led by Nangia, the tax team assisted Halliburton Technology India, a foreign company engaged in supply of software, in litigation with the tax authorities. The team supported by briefing on the facts of the matter, issues involved, carryied out legal and technical research on the issue and received favourable results in the high court.
Nishith Desai Associates is managed by Nishith Desai, who is the founder and managing partner of the firm. The firm provides tax services including international tax and litigation support. The scope of international tax services includes structuring cross-border M&A, financing transactions, restructuring of investments, advising on transactional joint ventures and collaborations, India entry and exit strategies, globalisation of Indian enterprises abroad, issues relating to treaty interpretation and transfer pricing issues.
Gautam Mehra is the leader of tax and regulatory services and also head of financial services within the tax department of PwC in India. He has vast experience in taxation having worked for major accounting and tax advisory firms during his career.
The tax department of PwC has various service lines that provide comprehensive solutions to taxpayers, including tax and regulatory services, direct tax, financial services, indirect tax, M&A, regulatory services, tax controversy and dispute resolution and transfer pricing.
S.R. Dinodia & Co has three family generations leading the firm – Pradeep Dinodia, Sandeep Dinodia and Pallavi Dinodia. The firm provides tax services including cross-border taxation, direct taxation advisory, litigation and transaction advisory.
Managing partner Pradeep Dinodia specialises in direct tax, both domestically and internationally, and litigation. Sandeep Dinodia has rich experience in the areas of assurance regulatory and financial consulting. Pallavi Dinodia focuses on international taxation advising local and foreign companies on various taxation matters as well as representing them before tax authorities on transfer pricing and double taxation avoidance agreement-related issues.
The firm's industry expertise includes the agriculture, automotive, chemicals, consumer products, financial services, entertainment and hospitality, healthcare and technology industries.
Shardul Amarchand Mangaldas & Co is a full-service Indian law firm that provides a broad spectrum of tax services of advisory, direct and indirect tax and litigation supports. The professionals of the tax practice are experienced in drafting, filing and representing the clients across various industries before courts.
The firm's expertise in the areas of industries include industrial manufacturing, pharmaceuticals, information technology, financial services and fast-moving consumer goods (FMCG).
Sudit Parekh, founder and chairman of the firm, leads SKP Group's tax and transfer pricing practice with support from eight partners and over 150 tax specialists.
The tax practice offers a wide spectrum of services such as cross-border taxation involving inbound and outbound planning, capital structuring, advice on various business models and tax impact analysis, structuring of engineering procurement construction (EPC) contracts, transaction advisory, transfer pricing services, tax litigation and expatriate taxation.
One of the most important recent matters for the tax team refers to a Mauritius-based multinational in the textile and garment industry which had operations in India through a wholly-owned subsidiary and a joint venture. The team was engaged to advise on profit repatriation mechanism and restructuring of Indian business operations for minimising the overall company tax liability. Maulik Doshi and Shraddha Bedmutha led the case and they successfully helped client in saving tax in the subsidiary and joint venture for 44% and 37% respectively.
One of SKP's clients, CEAT, commented: "We hired SKP for withholding tax which also included onetime clean-up of our vendor master. We had a good experience working with them as they had the dedicated team expertising on the relevant areas."
T.P. Ostwal is the founder and the head of tax and transfer pricing at T.P. Ostwal & Associates. He focuses on dealing with international tax matters on cross-border transactions, corporate structuring, joint ventures, valuations, accounting and auditing, company legal issues and foreign exchange management-related matters for a variety industries, especially in the real estate, technology, software and telecommunications and entertainments areas.
The firm has four partners providing services of audit and assurance, corporate advisory, tax advisory and international tax and transfer pricing.
Himanshu Sinha and Samsuddha Majumdar co-head the tax practice at Trilegal with support from five professionals.
Sinha has more than 18 years of direct tax experience advising clients on a wide range of direct tax matters including international tax, domestic and cross-border transactions, transfer pricing, APA negotiation and tax controversy. Majumdar has more than 12 years of tax experience, in both direct and indirect tax, specialising in customs duty, excise, VAT, service tax, supply chain and structuring, and joint ventures.
The firm provides tax services in all aspects and particularly focuses on industries of banking and finance, energy and infrastructure, real estate, and TMT.
In March 2016, the team, including Sinha and Majumdar represented a Pakistani company on anti-dumping investigations in India. The team drafted questionnaires and legal submissions as well as represented the client before the directorate general for anti-dumping in a midterm review. The matter was important because it involved the interpretation of various parameters on the basis of which anti-dumping duty can be withdrawn or reduced in a mid-term review.
Vispi Patel is the founder and the only partner at Vispi T Patel & Associates, and is supported by six other professionals. Patel has more than three decades of experience in international tax, global structuring and transfer pricing, advising multinational companies on a broad spectrum of tax issues arising in India as well as overseas.
Rajiv Shah and Suresh Dhoot are key professionals at the practice. Shah has more than 30 years of expertise in tax and is frequently involved in structuring of foreign collaboration agreements and technical assistance agreements. Dhoot also has decades of experience in tax and audit matters. He specialises in representing clients before courts and dealing with indirect tax matters.
The team advised a client on corporate tax matters, specifically regarding to taxation of cancellation of commodity contracts in December 2015. The matter required a detailed study of the provisions of Indian Contract Act coupled with the provisions of domestic tax. The team conducted an analysis to reduce litigation and provide optimal benefit to the company.
|Tier 1 - India|
|BMR Advisors, Taxand India|
|Tier 2 - India|
|Cyril Amarchand Mangaldas|
|Economic Laws Practice|
|Khaitan & Co|
|Lakshmikumaran & Sridharan|
|Shardul Amarchand Mangaldas & Co|
|Tier 3 - India|
|Ambalal Thakkar & Associates|
|Ashok Maheshwary & Associates|
|Luthra & Luthra|
|Nangia & Co|
|Nishith Desai & Associates|
|T.P. Ostwal & Associates|
|Tier 4 - India|
|G. M. Kapadia & Co|
|Majmudar & Partners|
|S.R. Dinodia & Co|
|Vispi T Patel & Associates|