Lokesh Shah

Lokesh is a Partner in the Firm’s Delhi office and is part of the corporate tax and private client practice at the Firm. He has over 20 years of experience in advising on M&A tax, international tax, corporate tax, and transfer pricing. He possesses significant expertise across various facets of tax law and is also a qualified Chartered Accountant (CPA). ​

He has been instrumental in advising several multinational enterprises/PE funds on tax efficient M&A/fund structures, inbound and outbound investment, interpretation and application of tax treaty provisions along with MLI, tax optimization strategies, and assistance in tax litigation matters.

Lokesh has advised a varied set of clients including corporates, investors, funds, financial institutions, borrowers, not-for profit organizations, individuals, start-ups (tech and non-tech) and multi-national corporations across a range of industry sectors, on tax efficient structures to set-up businesses in India (including in GIFT City), structuring and implementing M&A transactions, exits and internal re-organization strategies. ​

He has also advised clients on international tax issues such as transfer pricing, permanent establishment risks and tax treaty interpretation on variety of complex transactions.​

He also has an extensive experience in advising clients on trust and estate planning. ​

Lokesh has been ranked as a ‘Recognised Practitioner’ for Tax by Chambers & Partners Global Guide 2019 and Chambers & Partners Asia-Pacific Guide 2025 & 2021. He has also been recognized for Tax by The Legal500 Asia Pacific Guide 2025, 2024 & 2019. ​

Lokesh has been a speaker in number of seminars and event son issues surrounding GIFT City, redomiciliation and reverse flip and several other domestic and international tax issues. He has also authored various articles surrounding contemporary tax issues.​

Prior to joining CMS INDUSLAW, Lokesh was a Partner leading the tax practice at Saraf & Partners Law Offices and Luthra & Luthra Law Offices.