Job
Description
Job Description Unique Job Role Team Members Corporate Tax and Budgeting Function Finance Grade/ Band E1, E2 Sub Function Finance Department Location Parinee Crescenzo, BKC Reporting Authority GM-Finance Job Objective The objective of the role is to ensure compliance of the income tax act in order to achieve zero penalty and/or interest to manage accounting, bills processing and other regulatory requirement relating to finance in order to reduce financial risk and adhering financial reporting requirements Functional Competencies Essential functional competencies required Knowledge of accounting, banking, taxation laws, income tax act/rules, RBI act, Ind AS Desired functional competencies required Advanced knowledge of MS office /Excel Working knowledge of SAP Behavioural Competencies Behavioural competencies Networking & relationship building Result orientation Planning & organising Effective communication Problem solving Attention to detail Experience & Educational Requirements Educational Qualification Include Additional Certification if any CA Relevant Experience 2-8 years of experience in accounting & taxation & in SAP (FICO) module Communication Interfaces External Internal Income tax consultants All internal departments Accounts/ marketing team of all vendors for TOS Income tax officials Internal auditors for internal audit, Tax Auditors Other accounting professional for various regulatory requirement Statutory auditors Key responsibilities & Accountabilities 1) Income tax compliances : Ensure filing tax audit report and income tax return within due date Ensure payment of advance tax/self-assessment tax as per the due dates keeping a weeks time for the HOD/HOF for review and decision Computation and payment of monthly TDS/TCS liability, dividend withholding tax etc. prepare and file tax returns accurately and timely. Issue of TDS certificates to vendors within due date Manage withholding tax requirements for payments to vendors, contractors, and service providers in compliance with tax laws and regulations. Ensure submission of documents required for scouting or appeal Ensure resolution of queries raised relating to income tax and storing various opinions 2) Monthly/Quarterly/Annual Books closing : Complete provisions for expenses as per audit schedule Calculation of tax provisions, deferred tax calculations, and tax disclosures for financial statements in accordance with Ind AS. Accounting entries in connection with the same. Provide audit schedule for areas handled to statutory auditors 3) Vendor payments : Ensure vendor payment is made within 7 days by finance department Ensure compliance of direct and indirect laws & MGL internal controls/procedures before releasing any bill for payment Prepare presentation for open meeting covering points directed by the HOD Prepare various analysis as per direction from the HOD/HOF 4) External stakeholders management: Interact and resolve queries related to TDS raised by vendors Communicate external consultants for filing schedule E as per PNGRB requirement 5) Internal stakeholders management : Co-ordinate with C & P department to comply C & P procedure like tender opening etc. Collect data from RRM department to prepare computation & Schedule-E working Collect data from other departments required for tax audit or other income tax related work 6) Tax Advisory and Support: Provide tax advice and guidance to internal stakeholders, including finance, procurement, and legal teams, on tax implications of B2B/B2C transactions, contract terms, promotion schemes etc. Collaborate with external tax advisors, consultants, and legal counsel as needed to address complex tax issues and optimize tax outcomes for the business. Conduct tax research and analysis to identify opportunities for tax savings, incentives, and exemptions available under tax regulations. 8) Tax Assessment Representation: Liaise with Income Tax Authorities for scrutiny, assessment, and appeal proceedings through consultant. Respond to notices issued under various sections of the Income Tax Act through consultant. Prepare and present accurate submissions, explanations, and clarifications to queries raised by tax officials. Draft replies to show-cause notices, assessment notices, and penalty notices.
