Nangia & Co LLP with Praxity alliance will help its clients realize their global potential well beyond India’s borders. Through this alliance, an international network of like-minded, independent accounting firms, Nangia’s would be able to bring the world of business to its clients.

Commenting on this development Rakesh Nangia, Managing Partner, Nangia & Co LLP said “Nangia & Co LLP, an organically grown Chartered Accountancy Firm, with presence for over three decades has grown exponentially in the last decade. Praxity ensures that each of its member firms are highly rated by its peer, committed to ‘best in class’ service cultures and they found us fitting to be a Praxity member firm. Participation in this alliance will provide our clients with seamless international experience, local market insights, strategic partnerships and regulatory guidance, wherever they do their business.”

This news has been carrired by top leading publications:

1. Financial Express
2. PTI

(News flashed by PTI has been carried by Business Standard, Deccan chronicle, Asian age, Outlook Inida, India today and 15 other news portal)

In a boost to the Alternate Investment Funds (AIF) industry, tax authorities have clarified that non-resident investors investing through multi-layered structures would not be covered under the ambit of “indirect transfer” provisions of the income tax law.  The latest Central Board of Direct Taxes (CBDT) move will allay the concerns of investment funds, including private equity and venture capital funds, which feared multiple taxation of the same income at the time of subsequent redemption or buyback by non-residents in their offshore entities.

1. Rakesh Nangia, Managing Partner shares his views on aforementioned story for Hindu Business Line.
2. Suraj Nangia, Partner  shares his views on the queries raised by Financial Express readers.