Manager - F&A

Handling Direct Taxation matters and compliance of energy sector (GEL and its subsidiaries) and Transfer pricing of related overseas companies.

Accountabilities

Key Performance Indicators

Checking of Tax Audit Report, preparation / verification of income tax / wealth tax computation, notes to return and filing of income tax and wealth tax returns of allotted / major companies in energy sector.  Preparation of Transfer Pricing Study Report for all companies in energy sector.

Timely compliance of various statutory dues dates prescribed by Law.

Compilation of income tax, TDS and transfer pricing assessment details and review of assessment orders, preparation of appeals  before CIT(A) and ITAT against orders received and compilation of appeal submissions for allotted / major companies in energy sector. 

Timely compilation of data and review of orders

Attend hearing before Income Tax Officer, Additional Commissioner of Income Tax, regarding assessment proceedings, penalty proceedings, TDS, transfer pricing, proceedings for lower tax deduction certificate, 281 Certificates applied.

Hearings attended

Verification of advance tax workings, eTDS Returns, Annual Information Returns and provision for tax for allotted / major companies in energy sector.

Timely compliance of various statutory dues dates prescribed by Law.

Preparation of rectification application against orders received, review of application for lower tax deduction certificate, 281 Certificates, Tax Residency Certificates

Timely filing of applications

Advise to be given on applicability of TDS / TCS, study on allowability of expenditure and analysis of the same into expenditure into revenue / capital for allotted / major companies

Advises given

Review of contracts / agreements and attend business meetings to analyse the tax implications

Timely review of contracts

Reconciliation of income tax and wealth tax paid, provisions outstanding, refunds receivable etc., as per income tax records and books of account

Reconciliation

Regular follow-up with income tax department for granting refunds  passing necessary orders

Timely follow-up

Track and monitor changes in the Income-tax Act, procedures, Circulars, Notifications and case laws.

Timely implementation of changes

Preparation / review of MIS Reports showing the status of refunds, rectification application and appeals and maintaining company-wise MIS.

MIS Reports

Review of income tax calculation of projected financials

Timely review of calculations

Review of proper maintenance of income tax records

Maintenance of records

External - Roles  you need to interact with outside the organization to enable success in your day to day work

Officials of Income Tax Department

MAG / Internal / Statutory Auditors

Consultants

Vendors

Internal - Roles you need to interact with inside the organization to enable success in your day to day work

Finance and Accounts Team

Secretarial Team

Commercial and Contracts Team

Indirect Tax Team

Legal Team

• Deduction and remittance of TDS of  energy sector of Rs.100 crores (approx.)
• Payment of income tax of energy sector of Rs.40 crores (approx.)
• Properly Handling of Income tax assessment which would otherwise result in huge financial loss and litigations.
• Turnover and Capital work-in-progress of energy sector aggregating to Rs.1,60,000 crores (approx.).

• Interaction with various persons of income tax officials ( i.e. Range 11 (15 persons) , TDS section 15 persons, CPC 3 persons) and tax, internal  and statutory auditors.

• Chartered AccountanT

• Minimum of 11 years of experience in handing income tax matters.