Our Partners

Mr. Pankaj R. Bhuta

[B.Com (Hons.), F.C.A.]

Pankaj R. Bhuta is the founder of a boutique consulting firm in India and a Fellow Member of the Institute of Chartered Accountants of India, with more than four decades in practice.

He is having a rich experience in the field of Foreign Exchange regulations, Corporate Valuations, Direct Taxation, International Taxation, Transfer Pricing, Audit and Assurance. He focuses particularly in providing integrated taxation and Foreign Exchange Laws Consultancy Services to High Net worth Non-Resident Indian Nationals settled out of India and Foreign Nationals living in India as well as Non-Resident Indians returning to India.

He serves as an Independent Director on the board of several companies in India. He regularly leads talks and study circles on various topics of the everchanging Foreign Exchange Laws. He also contributes regularly to various professional journals. He was a co-technical editor for the publications ‘FEMA Compounding Orders– A Comprehensive Analysis (Volume I & II)’ published by Bloomsbury India in the year 2019 and 2020. He regularly features in national business newspapers.

Mr. Harshal Bhuta

[M.Com, F.C.A., A.D.I.T., LL.M.(Hons.) in International Tax Law - WU(Vienna)]

Harshal Bhuta is a Fellow Member of the Institute of Chartered Accountants of India (ICAI). He has completed his Master of Commerce from University of Mumbai. He has also received an Advanced Diploma in International Taxation from the Chartered Institute of Taxation (United Kingdom). He was selected as FIT Scholar 2014 to pursue LL.M. Program in International Tax Law at Wirtschaftsuniversität Wien (Vienna University of Business and Economics) which he successfully completed with Honors.

He is working with P. R. Bhuta & Co., Chartered Accountants (Mumbai) which is a boutique firm known for providing Indian Foreign Exchange Laws consultancy and International Taxation consultancy services along with focus on Non-Resident Indians and Foreign Nationals centric regulatory services in India. He has over 15 years of work experience and his areas of specialization include International Taxation, Transfer Pricing, Indian Foreign Exchange Regulations and Business Valuation. Along with co-partners, Harshal Bhuta has made various representations from the firm to Central Board of Direct Taxes (Ministry of Finance, Government of India), Department for Promotion of Industry and Internal Trade (Ministry of Commerce and Industry, Government of India) and also to The Organisation for Economic Co-operation and Development (OECD) towards suggestions for improvement of draft legislation(s).

Harshal Bhuta has been a speaker at various forums including Institute of Chartered Accountants of India, The Chamber of Tax Consultants, Bombay Chartered Accountants' Society and has published many articles. His presentations and articles are available for access on his LinkedIn profile and on the firm’s website. He has served as Vice-Chairman for International Taxation Committee of The Chamber of Tax Consultants, India for the year 2019-20. He also conducts Masterclass on Cross-Border Transactions for training participants from corporate sector. He used to serve as a visiting faculty at Siddharth College of Law. He has authored the publications 'FEMA Compounding Orders - A Comprehensive Analysis (Volume I & II)' published by Bloomsbury India.

Mr. Naisar Shah

[B.Com, A.C.A., Diploma in International Taxation (ICAI), LL.B.]

Naisar Shah is an Associate Member of the Institute of Chartered Accountants of India (ICAI). He has completed his Bachelor of Commerce (B.Com.) from the University of Mumbai. He has also completed a Diploma in International Taxation (DIIT) from the Institute of Chartered Accountants of India (ICAI) and a Bachelor of Laws (LL.B.) from the University of Mumbai.

Naisar is a core member of the cross-border transaction team at P. R. Bhuta & Co., Chartered Accountants. P. R. Bhuta & Co., Chartered Accountants is a niche firm that provides comprehensive cross-border transaction services along with a focus on Non-Resident Indians and Foreign Nationals centric regulatory services in India.

In his post-qualification career spanning more than 5 years, he has advised various Indian corporates on inbound and outbound transactions investment structuring and also worked as a core member of the team on various international tax and regulatory matters including cross border structuring and advisory. He has also advised multinational clients in relation to their end to-end transfer pricing matters including compliance, advisory, TP documentation etc. In his work experience, he has acquired specialization in the domain areas of Indian Foreign Exchange Regulations, International Taxation, and Transfer Pricing.

He has lead the FEMA study circle of The Chamber of Tax Consultants and The Bombay Chartered Accountants Society. He has also contributed to the publications ‘FEMA Compounding Orders – A Comprehensive Analysis (Volume I & II)’ published by Bloomsbury India in the year 2019 and 2020.

He is currently a member of the International Tax Committee of the Chamber of Tax Consultants. He has also been appointed as a convenor of FEMA Study Circle of the Chamber of Tax Consultants.

Ms. Laxmi Ahirwar

[F.C.A., M.Com]

Laxmi is a Fellow Member of the Institute of Chartered Accountants of India (ICAI). She has completed her Master of Commerce from the University of Mumbai (M.Com). She has over 8 years of post-qualification experience in Direct Taxation and Audit & Assurance services.

Laxmi is a core member of the Direct Taxation team at P. R. Bhuta & Co., Chartered Accountants. P. R. Bhuta & Co., Chartered Accountants is a niche firm that provides Direct Taxation consultancy services along with focus on Non-Resident Indians and Foreign Nationals centric regulatory services in India.

She leads the firm’s direct tax practice, offering strategic advisory and compliance solutions to a diverse clientele comprising resident Indians, NRIs across jurisdictions such as the UAE, USA, Singapore, and Canada and expatriates. Her expertise includes income tax advisory, litigation support, tax optimization, and representation before Income Tax Authorities, including the Commissioner of Income Tax under the Income Tax Act, 1961 and the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

She also manages statutory audits under the Companies Act, 2013, LLP Act, 2008, and tax audits under the Income-tax Act, 1961. Her approach emphasizes understanding the client's business environment, identifying audit risks, and ensuring the implementation of best practices through close coordination with the audit team.

She has contributed to the publication 'FEMA Compounding Orders - A Comprehensive Analysis (Volume II)' published by Bloomsbury India.

Mr. Rahul Kshirsagar

[B.Com, F.C.A., (ICAI)]

Rahul Kshirsagar is a Fellow Member of the Institute of Chartered Accountants of India (ICAI). He has completed B.Com. from Pune University. He has 18 years of post-qualification experience in managing diverse organizational functions across domestic and international landscapes.

His professional background spans Accounting, Audit, and Consulting Firms (including Big4), corporate roles (Industry), and family business engagements. He has played a pivotal role in setting up branch offices in India (CA firm), overseas representative office (UK), and outsourcing divisions (CA firm, India). His areas of specialization include CFO services, financial reporting analysis & services, advisory and compliance under FEMA, Transfer Pricing, RBI compounding matters, stakeholder management, and representation before RBI, DOE, and banks.

He has also managed CRO function for a data privacy technology company. He has led special assignments such as due diligence, SOP development & implementation, internal controls, project and operations management. He has also served as an Alternate Non-Executive Director of an SME listed company in India and has been a speaker at forums including ICAI (study circle), ICSI (EDP), Dr. Moonje MBA Institute, Nashik Engineering Cluster (NEC) and G.B.Ganpule’s Classes.