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2018-19
UNION BUDGET
Exclusive Analysis of
Direct Tax Proposals
February 2018
A CAPITAIRE insight publication
Contents
02
04
Glossary
05-07
Benefits and
Incentives
08-12
New Tax Avenues
13-14
Clarificatory
Amendments
15-16
Other
Amendments
Dear Reader,
We are pleased to present our first tax insight, ‘Direct Tax analysis of UnionBudget 2018’. This insight is focused on the direct tax changes put forth in theUnion Budget of 2018, presented by the honorable Finance Minister Mr. ArunJaitley to the Parliament on 1st February 2018.
Considering the transformational impact of GST and demonetization, thetaxpayers were expecting a favorable reform from the final budget before 2019election. For Direct Tax, the Government proposes no change in personalincome tax rates and for Corporates, the concessional tax rate of 25% has beenextended to Companies having a turnover of INR250 Crore. Certain taxincentives have been proposed for Start-ups, IFSCs, Farm ProductionCompanies and on New Employment Cost etc.
The Budget proposes certain significant amendments to the IT Act likewidening the scope of ‘Business Connection’ for non-residents and alsointroducing the concept of ‘technology based tax assessments’ by eliminatingthe interaction between the Tax Officer and the Tax Payer. Also, it is proposedthat all charitable trust and institutions are required to comply with the TDSChapter and also restrict the deduction for cash payments (in excess ofINR10,000).
For individual taxpayers, Senior Citizens might find some good outcomes fromthe Budget but withdrawal of capital gain exemption on transfer of listedshares would be a hard time to adjust for the investors. After 13 years, theGovernment has proposed to re-introduce the standard deduction for thesalaried class. Unfortunately, after withdrawal of transport allowance, medicalallowance and with the new Health and Education Cess at 4%, the newstandard deduction may not be an ‘incentive’ for a salary class.
We have covered key highlights on the direct tax proposals in the UnionBudget in the following slides and we hope this document will give you someinsights for a quick reference.
Regards
Sreejith KuniyilDirector
Background
03
Glossary of short usages
AY Assessment Year
BEPS Base Erosion Profit Shifting
CbCR Country-by-Country Report
CBDT Central Board of Direct Taxation
CTT Commodity Transaction Tax
DDT Dividend Distribution Tax
DTAA Double Taxation Avoidance Agreement
FTS Fee for Technical Services
FII Foreign Institutional Investors
ICDS Income Computation and Disclosure Standards
IFOS Income From Other Sources
IFSC International Financial Services Centre
IT Act Income Tax Act, 1961
IRP Insolvency Resolution Process
LTCG Long Term Capital Gain
LTCA Long Term Capital Assets
MAT Minimum Alternate Tax
MLI Multilateral Instrument - (Multilateral Convention to Implement Tax Treaty Related Measures to prevent BEPS)
NPS National Pension System
NRV Net Realisable Value
NTRO National Technical Research Organisation
OECD Organisation for Economic Co-operation and Development
PY Previous Year
TDS Tax Deducted at Source
STT Securities Transaction Tax
w.e.f With Effect From
w.r.e.f With Retrospective Effect From
04
For Corporates
Concessional Tax Rate – Domestic CompaniesIn the case of domestic companies, the tax rate shall be 25% where the totalturnover or gross receipts of previous year 2016-2017 does not exceed INR 250Crore and in all other cases, tax rates remain the same as specified for AY 2017-18.
Incentives for Employment CostSpecial deduction is allowed for 30% of additional employee cost (i.e.,emoluments), paid to eligible new employees who have been employed for aminimum period of 240 days. The said threshold period has been reduced to150 days for apparel industry and it is proposed to extend the period relaxationto footwear and leather industry as well.
The above deduction would be allowed in the first year, even if an employeehas stayed less than the minimum period in the first year but continue toremain on employment in subsequent assessment year to fulfil the condition.
(w.e.f AY 2019-20)
For start-upsFor promoting the start-ups, the businesses eligible for tax deduction iswidened to include business of development or innovation of products orservices, or a business with scalable model with a high potential ofemployment generation or wealth creation.
Tax benefit extends to start-ups incorporated on or after 1 April 2019 butbefore 1 April 2021. Under the current Law, the turnover condition of INR25Crore is required to meet in any of the PYs (between PY 2016-17 to PY 2020-21). Now this condition is proposed to applicable in 7 PYs commencing fromthe date of incorporation.
(w.e.f AY 2018-19)
Tax neutral transfersSection 56 covers certain transactions that are taxable in the hands of therecipient, if the transfer is for a value lower than the fair market value. Aspecified list of transfers (tax neutral) are outside the ambit of scope forSection 56. Transfer between a wholly owned subsidiary and its holdingcompany are not specifically excluded from the scope. Now, the Finance Billproposes to exclude such transfer from the scope of Section 56.
(w.e.f AY 2019-20)
Benefits / Incentives
05
For Corporates
Income of Farm Producer Companies100 percent deduction shall be allowed for profit of Farm Producer Companies(FPC), having a turnover up-to INR 100 crore, whose gross income includes anyincome from:
• the marketing of agricultural produce grown by its members, or• the purchase of agricultural implements, seeds, livestock or other articles
intended for agriculture for the purpose of supplying them to its members,or
• the processing of the agricultural produce of its members
The benefit shall be available for a period of five years from the AY 2019-20.(w.e.f AY 2019-20)
For Companies under Insolvency Resolutions Process (IRP):
(a) Relief from liability of MATFor calculating MAT, the aggregate amount of unabsorbed depreciation andloss brought forward shall be allowed to be reduced from the book profit, if aCompany’s insolvency resolution process has been admitted by theAdjudicating Authority.
(w.e.f AY 2018-19)
(b) Benefit of carry forward and set off of lossesThe carry forward and set off of losses in a closely held company shall beallowed, even if there is change in the shareholding in a previous year pursuantto resolution plan approved under the Insolvency and Bankruptcy Code, 2016.
(w.e.f AY 2018-19)For Units in IFSC
Capital gain exemptionTransactions in certain financial assets, by a non-resident on a recognised stockexchange located in any IFSC shall not be regarded as transfer, if theconsideration is in foreign currency.
(w.e.f AY 2019-20)Alternate Minimum TaxThe Alternate Minimum Tax for a non-corporate assessee has been reduced to9% for a unit located in IFSC as against 18.5%
(w.e.f AY 2019-20)
Benefits / Incentives
06
Personal Taxation
For Senior Citizens(i) Deduction for Medical insurance:
The monetary limit of deduction on annual premium for medicalinsurance policy or preventive health check-up, of a Senior Citizen ormedical expenditure of very senior citizens is increased from INR30,000to INR50,000.
(w.e.f AY 2019-20)
(ii) Deduction for Medical Treatment of specified diseasesThe monetary limit of deduction for medical treatment of specifieddiseases has been increased to INR 100,000 (for both senior citizens andvery senior citizens)
(w.e.f AY 2019-20)(iii) Deduction for interest income
A new deduction is allowed up-to INR 50,000 in respect of interestincome from deposits held by senior citizens.
(w.e.f AY 2019-20)
Also, proposed to amend TDS provisions to increase the threshold to INR50,000 for tax deduction (effective from AY 2018-19).
Standard deduction for salaries classStandard deduction is allowed up-to INR 40,000 or salary income, whichever islower. However, exemption in respect of Transport allowance (INR 19,200) andmedical reimbursement (INR 15,000) has been withdrawn.
(w.e.f AY 2019-20)
NPS exemption extend to non-employee subscribersThe 40% tax exemption of the total amount payable on closure of NPS Accountor on opting out from the scheme, shall extend to non-employee subscribersas well to bring the parity to all categories of investors to NPS scheme.
(w.e.f AY 2019-20)
For non-resident
Exemption on Royalty and FTS by NTRO Income arising to non-resident, by way of royalty or FTS from NTRO would beexempt from income tax and hence, NTRO will not be required to deduct taxon such payments to non-resident.
(w.e.f AY 2018-19)
Benefits / Incentives
07
A new Education CessA new Health and Education Cess at 4% is introduced in place of existing Education Cess and Higher Education Cess of 3% (in total)
Tax of LTCG on transfer of equity sharesTax exemption under Section 10(38) for LTCG arising from transfer of LTCA,being equity shares of a company or a unit of equity oriented fund or a unit ofa business trusts is withdrawn. Finance Bill proposes a new tax at aconcessional rate of 10 percent on such LTCG, exceeding INR 100,000 providedSTT has been paid:
• on both acquisition and transfer of an equity shares in a company; and• on transfer of a unit of an equity oriented fund or a unit of a business trust
The condition on STT is relaxed if the transfer is undertaken on recognisedstock exchange located in any IFSC and the consideration is in foreign currency.
The indexation benefit on the cost and the benefit of foreign currencycomputation in the case of non-resident are not allowed for computing theLTCG. Also, the deductions under Chapter VIA shall not be allowed from suchcapital gain.
For LTCA acquired on or before 31 January 2018, the cost of acquisition shall bedeemed to be the higher of the following:
• Actual cost of acquisition; and• Fair Market Value on 31 January 2018 or the value of consideration received
or accruing on the transfer of such assets, whichever is lower
As similar to Domestic investors, the above LTCG would be subject to tax at therate of 10 percent in the hands of FII as well.
Post Budget Proposal, the CBDT has clarified certain queries relating totaxation of LTCG in the form of FAQs. on 4 February 2018.
(w.e.f AY 2019-20)
Compensation in connection with business / employmentCompensation received by a person in connection with the termination or modification of any contract relating to business shall be taxable as business income. If the compensation is relating to an employment, then the same would be subject to tax as ‘income from other sources’.
(w.e.f AY 2019-20)
New Tax Avenues
08
Tax on conversion of stock-in-trade into Capital AssetUnder the current law, conversion of capital assets into stock is taxable ascapital gain. However, the conversion of stock in trade into capital assets shallnot be taxable.
In order to provide symmetrical treatment and discourage the practice ofdeferring the tax payment by converting the stock in trade into capital asset, itis proposed to tax the profit or gains arising from conversion of inventory intocapital asset as business income. On the date of conversion, the fair marketvalue of the inventory to be considered as value of consideration.
(w.e.f AY 2019-20)
Distribution of Dividend – Accumulated ProfitsThe scope of the term ‘accumulated profits’ is widened for the purpose ofdistribution of dividend - In the case of an amalgamation, the ‘accumulatedprofits’ or ‘loss’ of an amalgamated company, whether capitalised or not, shallbe increased by the accumulated profits of the amalgamating company on thedate of amalgamation.
Above proposal is introduced with a view to prevent Companies from enteringinto abusive arrangement to avoid tax on distribution of dividend.
(w.e.f AY 2018-19)
DDT is applicable to Deemed DividendDeemed dividend under Section 2(22)(e), i.e., payment by way of loans andadvance to a shareholder, would be subject to DDT at the rate of 30 percent(without grossing up). By this amendment, now deemed dividend would beexempt in the hands of the recipient (shareholder).
(w.e.f AY 2018-19)
DDT is applicable on dividend from an equity oriented Fund:Income distributed by a Mutual Fund, being an equity oriented fund would besubject to DDT at the rate of 10 percent.
(w.e.f AY 2018-19)
Chapter VIA – Deductions – submission of tax return on timeFinance Bill proposed to provide that the benefit of deductions under ChapterVIA – (Section 80 series deductions) shall be allowed only if the assesseesubmit the tax return within the due date.
(w.e.f AY 2018-19)
New Tax Avenues
09
Charitable Trust and Section 10(23C) entities are under checks:For charitable / religious trust or institutions, application of income forclaiming exemption under Section 11 would be subject to followingrestrictions:
Payments to residents would be subject to TDS Chapter and the non-compliance would lead a disallowance of 30 percent of such payments
Deduction shall not be allowed for payments (exceeds INR 20,000) made toa person in a day, otherwise than by an account payee cheque
A payment in a subsequent year (exceeds INR 20,000) made to a person ina day, otherwise than by an account payee cheque, in respect of anyliability incurred by the assessee for any expenditure, shall be taxable asbusiness income of the subsequent year.
Above restrictions is also applicable to entities claiming exemption underSection 10(23C).
(w.e.f AY 2019-20)
Transfer of immovable property – Double TaxationCurrently, in case of transfer of land or building or both, where the stamp dutyvalue is higher than the sale consideration, the difference will be taxed in thehands of seller (Section 50C) and the same difference is also get taxed in thehands of purchase (Section 56). Considering the above hardship, the FinanceBill proposes the following amendments:
• For seller – (Section 50C): Where the difference between stamp duty valueand the sale consideration is not more than 5% of sale consideration, thenno adjustment is required to compute the capital gain
• For Buyer – (Section 56): Where the difference between stamp duty valueand the sale consideration is not more than INR 50,000 or 5% of saleconsideration, then no adjustment is required to compute the taxableincome (IFOS)
However, if the difference is more than 5% of sale consideration, then thecurrent situation of double taxation continues to remain same.
(w.e.f AY 2019-20)
New Tax Avenues
10
Expansion of scope of the term ‘Business Connection’
Agency PresenceArticle 5 of the OECD Model describes the circumstances in which anenterprise will be treated as having a PE in a country. The BEPS Action 7 Reportincludes several amendments to Article 5 to address the OECD’S concernsabout the potential for companies to enter into arrangements that would, in itsview, artificially avoid the occurrence of PEs.
The Action 7 Report recommended modification to Article 5(5) such that anenterprise will be deemed to have a PE in a country where a person is acting inthat country on behalf of the enterprise, and, in doing so, such personhabitually concludes contracts, or “habitually plays the principal role leading tothe conclusion of contracts that are routinely concluded without materialmodifications by the enterprise.” The relevant contracts for this purpose arethose that are:
In the name of the enterprise, or For the transfer of, or right to use, property that the enterprise owns or has
the right to use, or For the provision of services by the enterprise
Memorandum to Union Budget 2018 explains the above background for theproposed amendment to the provisions of section 9 to align the IT Act with theprovisions of the proposed DTAAs as modified by MLI.
Finance Bill 2018 propose to amend the term “Business Connection” to includeany business activities carried through a person who, acting on behalf of thenon-resident, habitually concludes contracts or habitually plays the principalrole leading to conclusion of contracts by non-residents. The relevant contractsare:
• in the name of the non-resident; or• for the transfer of the ownership of, or for the granting of the right to use,
property owned by that non-resident or that non-resident has the right touse; or
• for the provision of services by the non-resident
New Tax Avenues
11
Expansion of scope of the term ‘Business Connection’ (cont..)
Economic PresenceA new concept of ‘significant economic presence’ emerging from BEPS Action 1– Tax Challenges in Digital Economy, has widened the meaning of ‘BusinessConnection’ in the proposed amendment to Section 9. This would create ataxable presence for a non-resident in India on the basis of factors thatevidence a purposeful and sustained interaction with Indian economy viatechnology or other automated tools.
It is proposed that the significant economic presence of a non-resident in Indiashall constitute “business connection” in India. The “significant economicpresence” for this purpose, shall mean:
• transaction in respect of any goods, services or property carried out by anon-resident in India including provision of download of data or software inIndia, if the aggregate of payments exceeds at a prescribed threshold; or
• systematic and continuous soliciting of business activities or engaging ininteraction with such number of users as may be prescribed, in India throughdigital means:
It is provided that only so much of income as is attributable to the transactionsor activities shall be deemed to accrue or arise in India. Also, transactions oractivities shall constitute significant economic presence in India, whether ornot the non-resident has a residence or place of business in India or rendersservices in India.
It is clarified that unless corresponding modifications to PE rules are made inthe DTAAs, the cross border business profits will continue to be taxed as perthe existing DTAAs.
(w.e.f AY 2019-20)Restriction on capital gain exemption - Section 54ECUnder the existing provisions of the Act, scope for tax exemption on long termcapital gain under section 54EC is wide. Proposed bill restricting the scope ofexemption under Section 54EC of the Act only to capital gain arising from thelong term capital assets, being land or building or both and to invest in longterm specified assets within 6 months period from the date of transfer subjectto satisfy certain conditions.Also, proposed that the long term specified assets, for making investment
shall mean the specified bond, redeemable after 5 years and issued after 1April 2018.
(w.e.f AY 2019-20)
New Tax Avenues
12
On ICDSIn light of recent judicial precedents on the issue of applicability of ICDS, the Finance Bill proposes the following:
• Marked to market loss or other expected loss shall be allowed as taxdeduction provided it is computed in accordance with provisions of ICDS
• Any gain or loss arising on account of effects of changes in foreign exchangerates in respect of specified foreign currency transactions shall be treated asincome or loss, which shall be computed in the manner provided in ICDS.However, the above tax adjustment is subject to provisions of Section 43A.
• Profits arising from a construction contract or a contract for providingservices shall be determined on the basis of percentage of completionmethod except for certain service contracts, and that the contract revenueshall include retention money, and contract cost shall not be reduced byincidental interest, dividend and capital gains.
• Inventory valuation is subject to following:
Lower of actual cost or NRV computed in the manner provided in ICDS. It shall be adjusted to include the amount of any tax, duty actually
incurred by the assessee to bring the goods or services to the place of itslocation and condition as on the date of valuation.
For securities not listed, or listed but not quoted, on a recognised stockexchange, shall be valued at actual cost initially recognised in the mannerprovided in ICDS
For listed securities, it shall be valued at lower of actual cost or NRV in themanner provided in ICDS
• Interest on compensation or on enhanced compensation, shall be deemedto be the income of the year in which it is received.
• Claim for escalation of price in a contract or export incentives shall bedeemed to be the income of the previous year in which reasonable certaintyof its realisation is achieved.
• Government grants shall be deemed to be the income of the previous yearin which it is received, if not charged to tax for any earlier PY.
(w.r.e.f AY 2017-18)
Clarificatory Amendments
13
Clarifications on CbCR Currently, the constituent entity (other than Parent) or Alternate ReportingEntity (ARE), resident in India has the filing obligation on CbCR. To clarify theexisting provisions, the Finance Bill propose the following amendment, with aretrospective effect from AY 2017-18.
The time for furnishing the CbCR has been extended to 12 months fromthe end of the reporting accounting period (i.e., the time is available upto31 March 2019 for FY 2017-18 reporting)
Constituent Entity, resident in India shall furnish CbCR, in case its parententity outside India has no obligation to file the report
Constituent Entity in India is not required to furnish CbCR, if AREnominated by the parent entity outside India files the CbCR in itsjurisdiction within the permitted time in that jurisdiction
(w.r.e.f. AY 2017-18)
Concessionary rates for Domestic Company - Manufacturing Domestic Companies can opt for a concessionary tax rate of 25%, if it engagedin the business of manufacture or production of any article or thing andresearch in relation thereto, or distribution of such article or thingmanufactured or produced by it and subject to satisfy certain other conditions.
Considering there are certain other income, which are subject to tax aspecified rate which is lower or higher than 25%, the Finance Bill clarify thatthe concessionary rate of 25% shall be applicable only to the income from themanufacturing business as laid down in Section 115BA and other income whichare taxable at a prescribed rate will continue to be taxed at the relevant rates.
(w.r.e.f AY 2017-18)
MAT Provisions – Foreign CompanyMAT provisions shall not be applicable to a foreign company, where its totalincome solely of business income taxable at a specified rates for specifiedbusiness like shipping business or exploration of mineral oil or operation ofaircraft or civil construction in certain turnkey projects.
(w.r.e.f. AY 2001-02)
Clarificatory Amendments
14
New scheme for scrutiny assessmentFinance Bill 2018 propose a significant change in the entire assessmentproceedings by eliminating the interface between the Assessing Officer andthe Taxpayer and to bring greater transparency and accountability. TheCentral Government would make a scheme, by notification in the OfficialGazette. Also, the Central Government, by a notification, can direct that anyof the existing provisions relating to assessment shall apply or shall not applywith such exceptions or modification as specified in the notification.However, no such direction shall be issued after the 31st March 2020.
The relevant notification for the new scheme of assessment is yet to benotified by the Central Government.
(w.e.f AY 2018-19)
PAN mandatory for certain financial transactionsIt is proposed to cover every non-individual entities, who enter into afinancial transaction of an amount of INR 250,000 or more in a financial yearshall be required to apply for PAN. It is also proposed that the managingdirector, director, partner, trustee, author, founder, karta, chief executiveofficer, principal officer or office bearer or any person competent to act onbehalf of such entities shall also apply for PAN.
(w.e.f AY 2019-20)
Penalty for failure to furnish the statement of financial transactionsPenalty for failure to furnish the statement of financial transactions orreportable accounts within the due date under Section 285BA has beenincreased to INR 500 for every day of default and the penalty in case offailure to furnish such statements within the period specified in the notice,has been increased to INR 1,000 for every day of default.The financial penalty has been increased in the Finance Act to ensure that allpersons specified in the section to meet the reporting compliances undersection 285BA without any default.
(w.e.f AY 2018-19)
No tax adjustments in processing the tax return based on Form 26ASAt the time of processing the tax return, the Tax Officer cannot make anyadjustment in respect of any addition on account of adjustments, if any,appearing in Form 26AS, Form 16 or Form 16A, which has not been includedin the total income in the tax return furnished on or after the assessmentyear commencing on 1 April 2018.
(w.e.f AY 2018-19)
Other Amendments
15
Prosecution for failure to furnish return - CompaniesProsecution on non-submission tax return in due time is relaxed, if the taxpayable on the total income does not exceed INR 3,000. The above relief inrespect of prosecution is not applicable to Companies as it is alleged that saidprovision is abused by shell companies or by companies holding Benamiproperties. Directors in those Companies may face the troubles if the TaxDepartment initiates the prosecution proceedings.
(w.e.f AY 2018-19)Presumptive tax for goods carriageFor heavy goods vehicle, it is proposed that income would be presumed to beequal to INR 1,000 per ton of gross vehicle weight per month for each goodsvehicle or actual amount earned by the assessee, whichever is higher.
(w.e.f AY 2019-20) Tax Return during IRP During the IRP, the income tax return shall be verified by an insolvencyprofessional appointed by the Adjudicating Authority.
(w.e.f AY 2018-19)Exemption of income of Foreign Company from sale of leftover stock of crude oil on termination of agreement or arrangementUnder the current law, any income accruing or arising to a foreign company onaccount of sale of leftover stock of crude oil after the expiry of the agreementor arrangement is exempt from income tax subject to satisfy certain conditions.The said exemption is proposed to extend even if the agreement orarrangement is terminated.
(w.e.f AY 2019-20)Scope for CTTFinance Bill proposes to include ‘options in commodity futures’ in thedefinition of ‘taxable commodities transaction’. CTT shall be charged asfollows:On Sale of commodity derivatives shall be payable by the seller at the rate of
0.01% on the value of taxable commodity (traded value)On Sale of option on commodity derivatives shall be payable by the seller at
the rate of 0.05% on option premiumOn Sale of option on commodity derivatives, where option is exercised, shall
be payable by the purchaser at the rate of 0.0001% on the settlement price(w.e.f AY 2018-19)
CTT on Agricultural Commodity CTT shall not be applicable for trading in agricultural commodity derivatives ina RSE and it will be treated as non-speculative transaction.
(w.e.f AY 2019-20)
Other Amendments
16
CAPITAIRE is a multi-disciplinary consulting firm focused on empoweringbusinesses to overcome challenges and enable them to deliver exponentialvalue to clients and stakeholders.
At CAPITAIRE, our purpose is to build a winning value proposition for clientsand help them maneuver change and improve performance by balancinggrowth, risk, operations and regulatory aspects of business.
Business environments are under constant transformation and oftenencounter leverage opportunities and unexpected challenges. The impact ofthese changes are unprecedented and can cut across diverse domains ofbusiness. Navigating this complex environment needs businesses to align withadvisors who have multi-disciplinary capabilities and an integrated approach.
Confluence of our multi-dimensional capabilities across Strategy, Finance,Taxation, Audits, People, Process, Technology, Sales and Marketing wouldenable us to unravel integrated value proposition for our clients.
Our clients benefit from comprehensive, unbiased advisory services andtrusted partnership. We work on the principles of integrated value deliveryand strive to be the single point of contact for our clients to overcomebusiness problems.
About CAPITAIRE
Our Core Values
CAPITAIRE business is built on the foundations of our core values whichempower us to deliver integrated value for our clients without compromise onquality, integrity or service
17
Integrity in every interaction
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Our services are focused around the core agenda of creating and deliveringincremental value proposition. We believe in philosophy of ‘Actionable Advice’and provide our clients with business advice coupled with project and programmanagement. From strategy and governance formulation to system adoption,we support management strategies of a company with an overarching focus onkey issues that need resolving on priority.
An integrated value delivery approach deeply benefits our clients by sheddinga comprehensive light on the business situation at hand. We believe in beingsingle source of empowerment to our clients and are open to collaboratingwith existing and new partners to get the job done for our clients.
Our Service Philosophy
Our Team
CAPITAIRE team is led by three able leaders with a collective experience ofmore than 50 years in the consulting domain. Our team has worked for Big4consulting firms and global giants like KPMG, EY ( Ernst and Young ), Deloitte,PWC, IBM, Reliance, HCL and Grant Thornton ( GT ). The gritty team has a‘Sleeves rolled up and ready to pounce’ attitude towards business issues andproven track record in business transformation engagements.
CAPITAIRE team has significant work experience in verticals like BFSI,IT-ITES,Manufacturing, Retail, Healthcare, Oil and Gas,FMCG and logistics. The teamhas successfully delivered work for start-ups to fortune 500 global clients. Thebiggest strength of this team is in their capability to understand clientsituations, assess them with an independent lens and propose comprehensiveapproaches which empower clients to propel ahead with confidence.
The leadership team of CAPITAIRE is as follows
Sreejith Kuniyil
Tax & Regulatory
Jacob Brillas
Audit & Accounting
Naveen Kumar
Growth & Risk
Integrated Value
Delivery
18
Disclaimer
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Kadavandhra , Kochi, Kerala, India -682020
Contact us
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Contact no: +91 97464 00931
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