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Transfer Pricing Alert

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June 29, 2020

Introduction The General Authority of Zakat and Tax (‘GAZT’)…

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Latest Amendments in GST

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June 29, 2020

There have been certain relaxations/ amendments keeping in view…

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Ritambhara Singh
Secterial Services
New Delhi

Ritambhara.singh@bnbindia.co

Ms. Ritambhara Singh works as a Senior Associate in Secretarial Department at BnB. She holds a Bachelor’s Degree in Commerce and also an Associate Membership of the ICSI. She has over more than 5 years of experience to her credit in advising clients for their setting up strategies in form of Company, LLP, Foreign Offices in India, implementation support, handling all kinds of compliances under Corporate Laws, Foreign Exchange Laws, Corporate Governance etc. She also has handled assignments on Insolvency matters and have represented before NCLT on behalf of clients. She possesses knowledge in incorporating companies in UAE Freezone, which are special economic zones that offer various incentives to businesses. She also assist her clients in applying for the opening of bank accounts in the United Arab Emirates (UAE) and make this cumbersome process a way smoother.

Overall, she has a diverse skill set and experience in advising clients and implementing the assignments on company setup strategies, compliance, insolvency matters, and UAE business setup, including banking processes.

Anant Bhatia
Practice Leader
International tax and Transfer pricing
New Delhi, Mumbai

anant.bhatia@bnbindia.co

He has been actively involved in professional service for the past 17 years. Prior to joining the firm, he had worked with PriceWaterhouse Coopers (PwC) and Ernst & Young (E&Y) for about 5 years where he handled Tax and Regulatory work for various International and offshore clients.

He specializes in advising corporates on framing of their Transfer Pricing Policies, Litigation with the tax authorities and conducting TP Due Diligence, and advising on cross-border acquisitions and holding company structuring of businesses. He is an expert in Due Diligence, Transaction Advisory Services and Family Office Planning.

He is also an active speaker at various forums, both domestic and international. He has also addressed the challenges faced by players from Agri-science and Agri-formulation business wanting to offshore their manufacturing operations in India.

He has also completed the Certificate course in Forensic Accounting and Fraud Detection (FAFD) conducted by Digital Accounting and Assurance Board (DAAB) of ICAI.

R. Bhatia
Managing Partner

ravi.bhatia@bnbindia.co

Mr R. Bhatia has been the managing partner of the Firm with an aggregate professional experience of 47 years. He has been instrumental in setting up the audit and assurance, tax and business advisory functions of the Firm, where his role offers advisory services to corporates both in the public sector as well as the family owned closely held groups and representing them before the Indian regulators.

Been a go-getter and achiever from the beginning, Mr R. Bhatia graduated from the Shriram College of Commerce, Delhi University and thereafter backed this with an All India Rank in the Chartered Accountancy examinations.

He was at the forefront in assisting a leading public sector bank with its Initial Public offer (IPO) and was responsible for the restatement of the financial information for past years as a part of the entire fund raise in compliance with SEBI regulations.

He is presently the Co-Chairman of the Direct Taxes Committee of the PHD Chamber of Commerce and Industry as well as the knowledge partner for the Export Promotion Council. Considering his rich experience, the Hon’ble Supreme Court of India recently allotted the Forensic Audit of one of the largest real estate conglomerates to the firm to unearth the trail of homebuyers’ funds and evaluate the alleged diversion thereof by the promoters.

Being an active “Rotarian”, he has held coveted positions with the organization driving several social causes focused on literacy, rehabilitation of the specially abled, setting up of hygiene facilities across all the Government aided schools in the state of Delhi etc.

Ashok Kr. Bhatia
Partner
New Delhi

ashok.bhatia@bnbindia.co

He has rich experience spanning more than 49 years in audit and taxation including representation and providing litigation support. He is a member of various professional forums.

He is an expert in taxation matters pertaining to representation work before various authorities with a special emphasis on search, seizure, and survey matters. He is also having rich experience of Assurance Services of various type of clients and industry.

Neeru Singh
Practice Leader- Direct Tax
New Delhi

neeru.singh@bnbindia.co

Ms. Neeru Singh is a qualified CA and a Law Graduate having 35 years of experience with specific focus on Direct tax (compliances and representation) services. She has handled complex matters of tax assessments ranging from Corporate Tax, assessments and also the assessments made consequent to Tax Investigation, searches and surveys.

She has also completed the Diploma in Information Systems Audit (DISA) and she is registered as Valuer in respect of Securities or Financial Assets with Insolvency and Bankruptcy Board of India (IBBI).

She is a Registered Valuation expert in India and is frequently a part of transaction advisory assignments pertaining to business valuations, valuation of intangible assets etc.

Ms Uma R. Wadhwa
Practice Leader
Accounting and Business Support services
New Delhi

uma.wadhwa@bnbindia.co

Over the past 21 years of her association with the firm, she has been actively engaged in specialist assignments for the banking and financial institutions.

Uma currently acts as the Virtual CFO for several foreign clients handling end-to-end servicing for Accounting, Payroll, GAAP Conversion, Auditing Support, MIS, Tax Compliance, etc.

She has helped develop accounting systems, financial operations, back-office transition and revamping internal financial systems. She has also assisted multinational companies across the globe to seamlessly meet Indian regulatory environment standards. She had also been instrumental in streaming tax and regulatory compliances for the local setups of the foreign firm’s clients.

Gautam Maurya
Partner – Internal Audits and risk advisory services
New Delhi

gautam.maurya@bnbindia.co

He has been in professional practice since the past decade and has been associated as a Partner with BnB for more than 11 years. Gautam has been actively involved in providing Direct tax Compliance and advisory services. Gautam has led the due diligence assignments on behalf of the firm to identify the nature and quantum of tax risks for clients as a part of the transaction support services.

He has completed the Diploma in Information Systems Audit (DISA). He is a Registered Valuer for Asset class – Securities or Financial Assets by Insolvency and Bankruptcy Board of India (IBBI). He has also completed the Certificate course on Forensic Accounting and Fraud Detection (FAFD) conducted by Digital Accounting and Assurance Board (DAAB) of ICAI as well as the Certificate in Concurrent Audit of Banks conducted by Internal Audit Standard Board of ICAI.

Apart from the above, leveraging on his keen interest and understanding of technology, Gautam has worked closely with the tax technology and IT teams to identify automated solutions to the compliance process and support implementation thereof. He has a sharp eye for automation and advises clients frequently on how to automate the processes pertaining to financial reporting and planning.

In particular, he has been instrumental in creating digital forms and a financial workflow for organizations, thereby augmenting the process efficiencies by more than 40-65%. Gautam is also well experienced in conducting Information Systems Audits for various banks and NBFC’s in line with the existing risk profiles.

He is actively involved in system deployment in manufacturing and service proving companies developing of SOPS and testing the checks in systems, advising on internal control and procedures.

Yogini Medadkar
Partner and Head of Office
Pune

yogini.medadkar@bnbindia.co

Yogini is a post-graduate in Commerce and a qualified Chartered Accountant having more than 9 years of professional experience. During the initial stages of her career, she has worked with US MNC, leading the finance functions for the APAC region.

She is on the board of multiple private companies in the capacity of a Virtual / Outsourced CFO (Consulting role) and thereby is intrinsically involved in the various strategic business processes.

Rajat Anand
Partner- Audit and attestation services
New Delhi & Chandigarh & Chennai

rajat.anand@bnbindia.co

He has 8 years of enriching experience in the implementation of International Financial Reporting Standards (IFRS) and Indian Accounting Standards (Ind AS) for many Corporates. His efforts have also been focused on ground implementation of IFRS for companies in Middle East, Asia Pacific and African continents. He has also coordinated with the global finance teams of clients and ensured that mandates were delivered on time and in systematic manner.

He specializes in conducting Statutory Audits, Transaction Audits, Due Diligence and managing Core Accounting. He also specializes in advising corporates on framing of their standards operating procedures, internal financial controls (IFC’s) and has also tested the same in the light of guidance laid down by ICAI for various leading ecommerce companies in India.

He is also a Certified Registered Valuer for Asset class – Securities or Financial Assets by Insolvency and Bankruptcy Board of India (IBBI) and also completed the Certificate course on Ind AS Knowledge Tool conducted by Accounting Standard Board of ICAI as well as Certificate course on International Financial Reporting Standards (IFRS) from Udemy.

Srinivasan Narayanan
Partner
Chennai & Bengaluru

narayanan@bnbindia.co

He has over 22 years of experience in providing Consultancy, Litigation and Compliance Services to MNCs in Domestic Income Tax and International Tax matters.

Further, he has been engaged widely in the field of Industry KRA and MIS and closure of books as per IFRS and working in the role of Outsourced CFO for various Global clients.

He has handled tax-efficient structuring / re-structuring of business setups / operations in India including the appointment of vertical CEO and CFOs.

He is also qualified and registered to act as an Insolvency Professional in accordance with the regulations of Insolvency and Bankruptcy Board of India (IBBI). He has also completed the Certificate course on Forensic Accounting and Fraud Detection (FAFD) conducted by Digital Accounting and Assurance Board (DAAB) of ICAI.

Megha Gupta
Associate Director – Transfer Pricing Services
New Delhi

megha@bnbindia.co

She has been actively involved in providing Transfer Pricing Compliance and Tax Advisory services to local and international companies for more than 16 years.She had worked with Deloitte in the Transfer Pricing Practice in the past wherein she had assisted in transfer pricing compliance and assessment of several MNCs operating in diverse industry domains including services, trading, construction, information technology sector.

In association with BnB she is assisting several domestic and foreign clients in Transfer Pricing Assessments. She has also represented before Tax and Appellate Authorities.

She also has extensive knowledge in preparation of Global Transfer Pricing Documentation.
She has undertaken review of the potential tax risks and compliances associated with MNCs setting up business in India (including PE implications and reviewing the arrangement in light of BEPS Action Plans). She has also done extensive work around tax structuring of Indian operations, entity structuring, cross border tax planning and interpretation of Double Taxation Avoidance Agreements.

She has also been actively involved in obtaining approvals / clarifications from Reserve Bank of India in addition to providing assistance in routine regulatory filings. She has conducted tax diagnostic reviews / due diligence to identify adverse tax risks for our clients and advise on risk mitigation. She has designed and conducted training sessions on transfer pricing issues.

Palak Agnihotri
Associate Director
Direct Tax and Regulatory services
New Delhi and UAE

palak@bnbindia.co

She is having more than 10 years of professional experience in handling Direct Tax Advisory and Litigation matters. Her expertise in providing tax advisory services to foreign and domestic clients on various domestic / tax treaty issues and cross-border tax planning / optimization opportunities across a wide spectrum of industries.

She has been instrumental in roadmap of the firm towards the Middle East region (UAE, Kingdom of Saudi Arabia and Qatar) and is actively managing the ongoing compliances for the clients. She has also represented clients with the aid of local councils and appeared before General Authority of Zakat and Tax (GAZT) and Federal Tax Authority (FTA). She has also assisted the clients from overseas who were desirous of rendering financial services in India, to seek and obtain requisite permissions from Securities Board of India (SEBI) and Reserve Bank of India.

She has also completed the certificate course in Forensic Accounting and Fraud Detection (FAFD) conducted by Digital Accounting and Assurance Board (DAAB) of ICAI.

RK Gupta
Senior Advisor
Practice Development
Head – Indirect tax
New Delhi and Chandigarh

rkgupta@bnbindia.co

He is having diversified experience of more than 45 years in the field of Indirect tax and Company Law matters. He is also an accomplished information systems auditor.

He carries a Multi-industry experience in both manufacturing and service sectors with hands-on exposure in FMCG, Retail and financial services.

He is an active member of GST committees and has been at the forefront in highlighting the challenges faced by the Industry with the legislative authorities.

Akshita Agarwal
Partner – Direct Tax & Assurance
New Delhi

akshita.agarwal@bnbindia.co

Akshita Agarwal is an Associate Member of the Institute of Chartered Accountant of India since 2018. She has done her B.Com from the University of Lucknow. She has more than 5 years of experience in Taxation, Finance and Auditing.
Akshita Agarwal is associated with us since March 2020. She is looking into Direct Tax Advisory of various clients of the firm and handling the Direct Tax matters including Assurance jobs of the clients assigned to her in an independent manner to the utmost satisfaction of the clients.

Poonam Goswami
Key Personnel
New Delhi

poonam.goswami@bnbindia.co

Ms. Poonam Goswamiis a qualified Company Secretary since 2019 and associated with BnB for last one year as a Senior Associate Company Secretary. She has 4 years of enriching experience in ensuring corporate compliances with corporate governance principles, laws, code, rules and regulations. She has diverse skills and experience of corporate law,secretarial audits, advising clients and handling corporate compliances of private sectors, non-governmental organizations, listed and/or unlisted public companies etc.

Sakul Mehra
Partner
New Delhi

sakul.mehra@bnbindia.co

Sakul Mehra after completing his graduation from Delhi University in the year 1999 has qualified his Chartered Accountancy in 2002

He has been associated with the Firm since 2002 onwards. He has 21 years of professional experience in the field of Statutory Audits, Internal Audits and Financial Due Diligence assignments. Over the years he has gained tremendous insights into the functioning of the various industry domains by being part of audit assignments.

His expertise includes working with cross section of industries including Jewellery and Diamond, Automobiles, Food processing, Information Technology, Electronic items, Logistics, Infrastructure and Power etc. He has also successfully handled the statutory audit assignments of various Public Sector enterprises.

Vatsal Gaur
Associate Director – Legal
New Delhi and Bengaluru

vatsal@bnbindia.co

He is a Law Graduate from National Law University, Jodhpur, with Specialization in Corporate Governance.

He is a notable in merger and acquisitions, private equity and venture capital practitioner. He specialises in tech policy, private equity and venture capital investment transactions, and has acted for diverse PE funds, VC and Angel Investors across the entire spectrum of the investment and divestment cycle.

Vatsal is a frequent contributor to leading Indian business dairies on topics of law and policy and is a featured as a panellist / speaker at various business forums.

Anthony Sequeira
Advocate
Frankfurt/ Berlin, Germany

Anthony has been practising as an Attorney since the year 2003 and completed his legal studies in Saarbrücken, Madrid and Hamburg, Germany.

Post his Legal clerkship at the Higher Regional Court of Hamburg with stations in London and New Delhi, he has worked with premier legal firms such as Lovells LLP, Hamburg (Intellectual Property and Corporate Commercial practice groups) and Roedl and Partner (in India) where he was also responsible for expanding the footprint of the organization and hand-holding the German SME’s with all the statutory compliance for the Indian setup.

Since 2015, Anthony has been a Partner with InDe Rechtsanwälte, a specialised law firm operating in the Indian – Deutsche business corridor. The Firm is headquartered in Berlin, Germany.

Anthony’s areas of specialization include: Commercial and distribution law, Competition law, Litigation, International business law and Indian law. He is fluent in German, English, Spanish, French and Hindi.

Tony Chen
Advisor Management Consultant
Beijing, China

Tony Chen is an American national and has been an entrepreneur with over 20 years of management and operational experience the domain of business consulting services. His proficiency lies in handling international relations, market development and building relationships with the government and other trade bodies.

He is the Chief Executive Officer (CEO) of Yingke Matrix India (YMI), with its group headquarters in Shanghai and with over 150 branch offices all over the world. Empowered by Yingke Law Firm, the largest law firm in Asia Pacific, YMI has been successfully assisting multinational companies’ overseas investments into India, with a “one stop all round” services, covering global consulting services, research and evaluation, market entry, company formation, capital outflow, investment structure, payroll outsourcing and cross border finance and taxation.

Presently, Tony is the Vice President of the CCCI. He is fluent in Mandarin, English, Taiwanese and Cantonese.

Dr SK Gupta
Advisor Internal Audit
New Delhi & Gurgaon

He has rich experience spanning more than 40 years in Internal Audit including his representation and providing Litigation Support. He is a member of professional development committees of the ICAI, and also serves on the Board of several large corporate houses.

He is an expert in taxation matters pertaining to representation work before various authorities with a special emphasis on search, seizure, and survey matters.

Dr Rajnish Kataria
Advisor – Banking relations
New Delhi, Gurugram

He is a graduate of St. Stephen’s College, University of Delhi as well as a Ph.D. degree holder in International Trade. He had been a Banker, a Trainer and an Academician.

He has an experience of 35 years in the banking industry, in a nationalized bank, two foreign banks and a leading private sector bank. For more than 6 years, he was the Director and CEO of National Institute of Banking Studies & Corporate Management (NIBSCOM) set up by Reserve Bank of India to provide regular trainings to the Top Management, Senior Management & Junior Management Officials of the Banking Industry and Leading Corporates. He has also been a regular visiting faculty at the Faculty of Management Studies (FMS) University of Delhi, in Amity University, Noida, LBS Institute of Management, Bhartiya Vidyapeeth University and IILM.

Besides his professional engagements, he is a keen follower of sports and of Indian classical music.

Edith N. Nordmann
Advisor Corporate and Commercial
Litigator
Amsterdam, Netherlands

Edith N. Nordmann is an experienced Corporate and Commercial Litigator having expert qualification in Employment Law and she is also an International ADR Certified Mediator.

She is specialized in Cross Border Business Transactions taking into consideration not only the different legal systems but also being acquainted with the various cultural differences that can make or break a deal.

As a public speaker she has shared her knowledge in various International Conferences. She had been awarded as “Women of the Decade in Law & Social change” by the Women Economic Forum in 2017. As Managing Partner of Attorney Consulting Group International (ACG International), she combines all these skills and expertise for the benefit of her international clients.

Being fluent in German (native speaker), English, Dutch, French and Italian and understanding the differences in culture and legal systems across many different cultures and countries, she is able to help her clients in a unique way.

Presently, Edith is the Chairperson of the Netherlands India Chamber of Commerce and Trade.

Khumesh Tokas
Partner
Partner Audit and attestation services
New Delhi,Bengaluru

khumesh.tokas@bnbindia.co

Khumesh is leading the Statutory Audit Practitioner within the firm, leveraging upon his rich experience of 16 years with Ernst & Young (E&Y) and Deloitte.

He has also completed the Certificate course in Forensic Accounting and Fraud Detection (FAFD) conducted by Digital Accounting and Assurance Board (DAAB) of ICAI, GST conducted by GST & Indirect Taxes Committee of ICAI and MSME conducted by MSME & start-ups Committee of ICAI.

Khumesh’ s role involves being responsible for building relationship with the US and UK teams, pulling in additional business on engagements and ensuring quality. He is continuing the same experience as Partner in the current role and is responsible for the clients integration, managing relations with the foreign teams and ensuring growth and promotion of India counterparts apart from other assignments.

Vijay Kumar Prasad
Chief People Officer (CPO)
New Delhi

vijay@bnbindia.co

Vijay is a Senior HR Professional, having over 20 years of experience with a background in HR Consulting, Talent Management and HR Automation. He has held several leadership positions with a Domestic consulting firm. Before joining us, he worked with companies like PwC, E&Y, Orris Infrastructure, A&A Business Consulting etc.

As a Chief People Officer (CPO}, Vijay has expertise in Organization restructuring, HR Operations & People Management. Vijay drives the people strategy for the B&B Chartered Accountants, which includes talent acquisition, engagement, development, automation and performance management. Vijay is an MBA in Public Relations and Master of Industrial Relations and Personnel Management from Nagpur University. He also did PGPHRM from XLRI Jamshedpur and remains an active and proud alumnus.

Ridhima Shukla
Associate Director – Business Strategy
New Delhi

ridhima@bnbindia.co

CA Ridhima Shukla is a fellow member of the Institute of Chartered Accountants of India since 2013. She has more than 7 years of experience in the finance sector and has served companies like Keysight Technologies and Mind Processors Technologies. She is an achievement-oriented professional with excellent people management skills.

Her broad portfolio in finance & accounts services includes Corporate Finance, Valuation of Business Modelling, Transaction advisory services, debt syndication, international fund-raising deals, and other financial services.

Kamala P
Partner and Head of Office
Mumbai

kamala@bnbindia.co

Kamala has more than 7 years’ experience in taxation, specifically transfer pricing matters. She was associated with KPMG and PwC for over 7 years where she has gained extensive experience on advising many multinational companies from diversified sectors such as manufacturing, information technology, pharma etc on various aspects of domestic and cross border taxation matters. She has hands on experience in corporate tax and has extensively advised corporates on various treaty issues, MLI (Multi-lateral instruments) related issues, business structures and their tax implications.

She has specialised experience in transfer pricing where she has assisted multinational companies in their transfer pricing compliances (transfer pricing study reports & transfer pricing audit report in Form 3CEB, master file and country by country reporting), advised them in structuring their business models & setting transfer prices.

She has extensive experience in handling critical litigation matters of clients before tax authorities at various levels such as assessment, dispute resolution panel (DRP) and Commissioner of Income tax (appeals) (CIT(A)).

Apart from taxation matters, she is also actively involved in undertaking varied advisory assignments where she assists corporates in price setting, cost reduction analysis and audit of foreign exchange transactions.

In the recent past, she has also been actively involved in other service lines of the firm where she has assisted companies in undertaking valuation assignments, providing BPO support services managing the clients’ financial and tax compliances in an effortless & efficient manner.