Deputy Manager - Taxation

Job Summary:

• The job purpose of this position is to manage direct tax compliance on end-to-end basis
• Income Tax Compliance, Tax Audit, Income Tax Return filing
• Managing Outsourced Team on productivity and capability building
• Month end closing activities of tax Functions
• Reinsurance Reconciliation and Settlement
• Other Tax Compliances

Role & Responsibilities:

Tax Compliances

• Responsible for filing of Tax Audit and Income Tax returns
• Ensure other tax compliances (Monthly/ Quarterly/yearly) including timely payment of taxes, filing of returns etc.
• Coordination with IT and other stakeholders for data extraction for IT return and other submissions.
• Tracking of notices received from Tax Department and ensure timely submissions/ responses.
• Preparations of response to notices, filing of appeals, paper-books, etc.
• Ensure proactive readiness of data /details for submission to tax department.
• Tracking of notices received from Tax Department and ensure timely submissions/ responses.
• Preparations of preliminary response to notices, appeal documents for submission to Tax Department.
• Ensure proactive readiness of data /details for submission to tax department.
• Responsible for ensuring reconciliation of Tax and Non-Tax related account codes
• Responsible for review of reconciliation performed by the team
• Responsible for publishing dashboard for Management reporting
• Responsible for preparation of SOP and ensure adherence to defined process
• Responsible for Query & Complaint Management within agreed timelines

Audits, month end closing and other associated activities related to Taxation Function

• Timely closure of month end activities including accounting with respect to tax.
• Ensure timely submission of data for Quarterly/Annual Audits and ensue smooth closing of audit queries.
• Smooth closure of Internal Audit/ Tax Deptt. Audits with no significant observations.
• Time bound implementation of system and process changes in coordination with IT and other functions.
• Coordination with Accounts Payable and others Team for monthly and adhoc data requirement.
• Advising various team on TDS related matters with respect to policyholders, vendors queries.

Reinsurance Reconciliation and Settlement

• Reconcile reinsurance accounts, ensuring that all transactions are correctly recorded and discrepancies are resolved promptly
• Communicate with reinsurers to facilitate smooth and timely settlement process
• Address inquiries related to reinsurance settlements and collaborate with internal teams to obtain necessary information
• Ensure compliance with regulatory requirements and internal policies governing reinsurance settlements
• Prepare and maintain documentation related to settlement, treaties and other relevant records
• Work with relevant stakeholders to find amicable solutions and maintain positive relationship with reinsures
• Stay informed about industry trends and best practices
• Submission of input data for IRDA reinsurance reporting

Process Improvement

• Identify opportunities to streamline and improve the processes
• Collaborate with cross-functional teams to implement process enhancements and automation
• Regular review and Continuous strengthening of processes, highlighting and resolving discrepancies and exceptions

Preferred Candidate Profile:

• Chartered Accountant (CA) with 2+ years' experience
• In depth understanding of compliances including Returns, Litigation, Refunds, etc.
• Preparation of tax workings and ability to work on huge data.
• Hands on experience of MS Office with expert knowledge of MS Excel.
• Good Communication skills and excellent attitude with ability to get things done
• Ability to handle pressure and work in a competitive environment.
• Customer first approachability and problem-solving attitude