The spike in investment in non conventional start ups, leap growth in traditional businesses and entry of various multinational companies in India has led to the increased tax compliance among companies across the globe. As the companies are expanding their business they are also facing various tax risks and disputes associated with the uncertain and frequent changes in tax laws. Besides the massive growth of the Small and Medium Enterprises (“SME”) sector in the country, there has been an unprecedented surge in tax litigation. Though the big corporations can afford to have the counsel of big firms to advise it has been noticed that they refrain from offering litigation support. While a large chunk of tax payers and SME’s are in need of quality tax advice and litigation support but due to the cost factor are deprived of these services. On the other hand, small firms give personalised services but they are generally lacking in experience in dealing with complex tax advisory and not deal in big ticket tax litigation. It is this gap which inspired Gagan Kumar to leverage his huge experience in the taxation space by starting a legal service firm of his own and offer an appropriate strategy in handling tax litigation matters effectively and efficiently especially for the SMEs which are on the cusp of getting into big league. Thus, in 2011, after working with firms like KPMG and Amarchand Mangaldas, he conceptualised and set up Krishnomics Legal (“Krishnomics”).

An Array of Customized & Feasible Solutions

Incorporated as a boutique tax law firm, Krishnomics aims to provide assistance to mid sized enterprises or entry level foreign multinationals which generally do not have recourse to the quality tax advice or tax litigation support.With its core strength and rich experience, Krishnomics offers a competitive price at which the small and midsized enterprise can easily afford to avail its services and offerings.Pinpointing on Tax Advisory and Litigation as the core area of practice, Gagan speaks, “Our firm consistently adopt sound ethical practices and strives to deliver the customized, feasible and affordable solutions to our clients. We serve as an advisor to many public and private entities with our quality and personalised service offerings.” Additionally, Krishnomics offers Advisory services relating to upcoming Goods and Services Tax (“GST”) Corporate Laws, Merger & Acquisitions, Insolvency Regulatory laws and Fiscal and Regulatory Laws. The company also offers its solutions in resolving issues relating to transfer pricing disputes and international tax apart from acting as a support mechanism to the start-ups in structuring the transactions with a focus to optimising their tax cost by making it fully compliant. “With a rich background in accountancy we read the balance sheet of the clients business and identify the potential pitfalls during financial structuring. Having a tax and corporate expertise we not only review the agreement from purely contractual or commercial perspective but also try to identify the tax pitfalls that are likeable to arise,” asserts Gagan. Gagan has been recognised as one of the ‘Tax Controversy Leaders’ in India by International Tax Review, London consistently for last four years. Recently, his expertise were used by Government of India as an ‘Expert Witness’ in a dispute under Bilateral Investment

Protection Treaty at The Hague before Permanent Court of Arbitration. In a short span, the firm has earned a reputation of successfully representing clients in complex tax cases and is emerging as ‘Go To’ lawyers for high stake tax matters. Krishnomics has also become part of the global network of law firms ‘The Lawyers Network’.

The Future Plans

Incorporated as a solopreneurial entity, Krishnomics at present has overcome the hardships in building a Brand Value and has set its footprint as one of the leading Tax Law Firm in the country. Headquartered at New Delhi and with a team of skilled lawyers, Chartered Accountants and Company Secretaries, the company aims to be known as a full fledged tax law firm having pan India presence. With a vibrant work culture followed by transparency, accountability and blend of technology, Krishnomics till date has witnessed impressive revenue growth since its inception. “Our main idea is to create Independent professionals within the firm who are capable of running their own respective practices generally focusing on tax laws. With an office in Mumbai and Delhi, we are also contemplating to expand our services with a new office in Bengaluru,” concludes Gagan.