AKM Global is an accounting firm headquartered in Delhi NCR, comprising a team of 700 professionals across 8 locations, including the UAE. Led by Amit Maheshwari and Sumit Maheshwari, the firm caters mainly to multinational clients, delivering comprehensive tax services, including international tax, direct and indirect tax, dispute resolution, transaction advisory, transfer pricing, and other specialized solutions. Manish Garg and Ikesh Nagpal head the firm's transfer pricing and indirect tax practices, respectively.
In a recent work study, the team provided tax compliance support to Plata Capital India Private Limited, an Indian subsidiary of a UK-based entity. The work involved verifying and fulfilling withholding tax liabilities, Goods and Services Tax (GST), corporate tax liabilities, and necessary reporting.
In addition to the 16 new hires in 2024, the team welcomed Akshay Grover as manager and Kedarnath Gupta KS as accountant in 2025.
Client feedback
“Thorough professionals who understood the customer needs and were able to develop and deliver a training module for training tax officers pan India”
“Specialist, Experienced, Knowledgeable, competent staff”
“AKM has team of good professionals for Direct/Indirect & international transactions advisory.”
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.
Bhuta Shah & Co is a full-service professional service firm. It focuses on services including auditing, taxation, advisory and corporate finance. It is also capable of handling indirect tax litigation matters and representing clients before the authorities at appeal forums. Shailesh Bhuta and Jignesh Shah are the key practitioners in the team.
Details of the firm’s work and clients remain confidential.
The team lost three partners and added two new partners, Bhavin Shah and Sanjay Gupta, during the research period.
Coinmen Consultants supports local clients by providing tax, financial and business advisory services. It covers practices including international tax, transfer pricing and transaction advisory. The team consists of financial advisors, tax consultants and chartered accountants. Nitin Garg and Vikrant Suri are the key partners in the team.
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.
Dhruva Advisors Is a leading tax advisory firm in India, comprising a team of approximately 450 professionals, including 22 partners and 8 senior advisors. The team offers specialized expertise across a broad spectrum of tax services, including corporate tax advisory, tax controversy management, regulatory advisory, transfer pricing, and goods & services tax. Partner Sandeep Bhalla is an incumbent partner for the firm’s tax dispute management line.
In a recent case study, the team assisted a client in settling a dispute between India and the United States arising from cross-border transactions by negotiating with the Indian Competent Authorities through the Mutual Agreement Procedure (MAP).
Anand Ramjilal Parasrampuria joined the firm’s indirect tax team as an Associate Partner in 2024.
Client feedback
“Well researched and precedence based advisory.”
“Hears out the matter patiently and provides best solution along with alternatives”
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.”
Global Consulting Group started as a start-up venture by former employees of EY, Bhanu Patyal and Sanat Goyal. The team specialises in transfer pricing and has strengths in the technology sector. It also supports clients with advisory and litigation services to navigate tax regulations and mitigate risks associated with cross-border transactions.
Case studies showed that the team assisted multiple clients from Singapore, Japan, China and India with preparing domestic and global transfer pricing documentation.
The tax and regulatory team at Grant Thornton Bharat supports 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. Fatema Hunaid serves as the Asia Pacific Leader of Transfer Pricing for Grant Thornton, overseeing the strategic direction and operations of the transfer pricing practice.
During the research period, the team provided assistance to a leading cryptocurrency brokerage firm in developing an operating model and setting transfer prices for proposed inter-company transactions.
The team has recently been strengthened by the addition of Jaikishan Agarwal as Director and Gaurav Sethia as Associate Director.
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.”
JSA is a national law firm in India, offering tax services in the corporate practice area. The tax team focuses on providing direct and indirect tax advisory services, including structuring domestic and cross-border transactions, and reviewing the business model and supply chain. Shareen Gupta is one of the key tax partners in the team.
One case study saw a team led by Gupta assisting JSW Steel with an appeal filed by the customs authorities. It advised the client on pre-litigation strategies and represented the client before the High Court of Bombay.
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 a full-service law firm and an India member of both international legal networks, Terralex and First Law International. The firm provides comprehensive solutions and client support across various tax areas, including goods and services tax, customs, income tax, and litigation, from the adjudicatory level up to the Supreme Court. V Lakshmikumaran, the Founder and Managing Partner of Lakshmikumaran & Sridharan, advises clients in all areas of taxation. Partner Charanya Lakshmikumaran is an incumbent partner for the firm’s tax litigation and indirect tax service lines.
In a recent case study, the firm advised a multinational client with a presence across India, Singapore, Kenya, Vietnam, and Ghana on restructuring its intellectual property holdings within the group. The engagement covered key considerations including transfer pricing, GST, and foreign exchange regulations. The team also advised on restructuring the group’s shareholding in preparation for a potential IPO.
Client feedback
“Problem solving and taking the practice measures for resolution”
“Knowledge, positive attitude, and problem solving skill”
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.
Nexdigm is a member of Nexia International and has a joint venture with Tricor. Its multidisciplinary tax team now comprises over 175 practitioners and is led by Managing Director Maulik Doshi. The team delivers professional taxation solutions, covering corporate tax, cross-border tax, transfer pricing, indirect tax, tax litigation, and services for private clients and family offices. Maulik Doshi oversees the firm’s tax and transfer pricing service lines.
Recent case studies show that the team assisted various clients in connection with general corporate tax, indirect tax, and transfer pricing matters.
Senior Director Prabhat Ranjan and Executive Director Amit Amlani joined the team in 2025, while Associate Director Hiren Mansukhlal Vora departed in February of the same year.
Nitya Tax Associates is a law firm specialising in indirect taxes. It recently expanded its presence by adding an office in Mumbai. The team provides services in the areas of GST and customs duty, including advisory support, due diligence and litigation support. Dharnendra Kumar Rana and Deepak Suneja are the key partners in the team.
Recent examples of the firm’s work saw it assisting multiple clients, including Atria Convergence Technologies and SKH Sheet Metals Components, in a batch of petitions before the Supreme Court. The court subsequently allowed the petitions and directed the Government to allow the filing and revising of TRAN-1/TRAN-2 universally to all taxpayers.
Daizy Chawla and Smita Singh are the key tax partners in S&A Law Offices. They specialise in direct tax and indirect tax respectively. The team offers a one-stop service to clients, including advisory, litigation, and compliance. It is also capable of handling investigation matters initiated by the Directorate General Goods and Services Tax Intelligence and the Directorate General of Revenue Intelligence. Key clients include RattanIndia Group, Adani Group and GMR Group.
One of the case studies showed that the team led by Smita Singh represented Vikram Solar in an ongoing indirect tax controversy matter. It also assisted other clients such as Worldcoin and Delhi Duty-Free Services.
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.
Steadfast Business Consulting is a tax consulting firm headquartered in India and a member of the PrimeGlobal network. The team has grown to over 250 professionals, operating across offices in India, the UAE, and the USA. The team offers expert tax advisory services with a focus on transfer pricing and international taxation for clients across the Asia Pacific, Europe, the Middle East, and the United States. Praneeth Narahari and Rajesh Vaishnav are the key partners for the firm’s global transfer pricing and international taxation service lines.
During the research period, the firm assisted a client with establishing an efficient group structure by advising on transfer pricing policy setting and implementation, effective tax rate analysis, permanent establishment evaluation, and other strategic advisory services. The firm also assisted and represented a client in a transfer pricing litigation before the High Court, Income Tax Appellate Tribunal, and the Dispute Resolution Panel.
Sudheer Polana, Thrishul, Nandhini Priya, and Anmisha Chittineni joined the firm’s transfer pricing practice in 2024.
Client feedback
“They are Direct Tax Letigation Exeprt. Smooth sailing with them.”
“Understanding Concern and Problem”
TLC Legal focuses on indirect taxation. The team consists of lawyers, chartered accountants and tax consultants and offers advisory services, tax litigation services, tax policy formulation and tax administration. In addition, its expertise extends to indirect tax laws, such as GST, customs, central excise, service tax and VAT. Vipin Jain and Vishal Agrawal are the key practitioners in the team.
Case studies showed a team led by Jain actively handling indirect tax controversy matters. Clients included M/s Reliance Industries, Jupiter Dyechem and the Chemical and Petrochemicals Manufacturers Association.
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.
TransPrice Tax Advisors is a network partner firm of Quantera Global. The team now consists of 25 full-time professionals and is led by the founder Akshay Kenkre. The team focuses on transfer pricing and international taxation for global and Indian multinationals. It offers global transfer pricing documentation services, including local files, master files, and CbCR assignments for various jurisdictions. In addition, the team is also capable of resolving disputes with tax authorities. Sneha Hedge and Sujit Thakar are the key partners in the global and Indian transfer pricing service line.
In recent case studies, the team assisted various multinational clients with comprehensive transfer pricing compliance management.
Partner Sujit Thakar joined the team in June 2024, while Suraj Agrawal departed in December of the same year.
Client feedback
“The entire team, led by Akshay Kenkre, has deep knowledge about the subject”
“Very responsive and are able to respond to queries and requests very quickly”
“Subject matter expertise”
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.”
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.”
VSTN Consultancy is a transfer pricing boutique in India. The team consists of 13 professionals with 7 senior members and is led by its founder and CEO, Nithya Srinivasan. VSTN Consultancy offers a comprehensive range of services, including transfer pricing strategy and planning, documentation and compliance, and Advance Pricing Agreements (APAs). The firm serves clients across India, the Middle East, USA, Singapore and Europe. Rajesh E and Srilakshmi Hariharan are the key principals in the firm’s transfer pricing practice.
In recent case studies, the team assisted various clients in transfer pricing documentations and litigations.
Chitra Subramanian and Saranya Nagarajan joined the firm as associate directors in April 2024 and February 2025 respectively.
Client feedback
“They are very proactive, thorough professionalism, transparency in communication, setting right expectations, knowledgeable on their subject, provide us very regular industry updates, timely responses and high responsiveness”
“Experts knowledge and vast experience of the staff is very helpful in taking informed decisions.”
“VSTN team is experts in their field of service. The recommendations/guidance they are providing on the Compliances and Assessments are reliable and makes it easy for the management to decide the next course of action. Happy to be associated with VSTN and looking forward to the upcoming years.”
