Sh Taxation & Sales Accounting
Year Dadra, Dadra and Nagar Haveli, India
Job Description
b'
Designation: Assistant Manager
Updated: March 25, 2023
Location: Dadra and Nagar Haveli, India
Organization: Metals
:
1) Job Purpose
Should have in-dept understanding of Income Tax Act, Income Tax Rules and allied laws for its compliance and management. The hardest thing in the world to understand is the income tax. Albert Einstein.- In-depth knowledge tax laws, subject expert and understanding of its concepts and application of the same within the four corner of law.
- Should have good communication skill as it requires integration with different function to seek clarification like treasury, risk management, accounts, units, consultants and tax authority.
- Co-ordination with various Units for reviewing, guiding them for preparation of Tax Assessment (other than Transfer Pricing) details and consolidation and cross verification of consolidated total with Financial Statements. Seeking clarification from units if doubts in data prepared by them.
- [2 People required co-ordination and no. of units are large i.e. [8 Plants/ 3 mines / 2 branches half the units of Hindalco]
- Representation before Tax Authority for companys Assessment proceeding. Ensuring timely submission of Assessment details.
- Preparation of Income Tax Appeal before Commissioner of Income Tax (Appeals).
- Co-ordination with various Units for reviewing, guiding them for preparation of Tax Audit Report. [2 People required co-ordination and number of units are large] [8 Plants/ 3 mines / 2 branches half the units of Hindalco]
- Liasioning for order giving effect to Appellate order with Assessing officer and getting refund and checking of working for the same and accounting entries for the same.
- Filing of Rectification application u/s 154 for mistake apparent from the record and getting the effect of the same.
- HIL -Coordination for stay application getting stay order for outstanding demand for pending the appeal as per the requirement of law.
- Co-ordinating with tax authority for getting non-objection certificate under section 281 for obtaining financing,
- Regular Update of taxation to units and applicability to the organization.
- Laws require certain specified transactions needs to be reported. So, the gathering of the same from various sources, checking and preparing the details in the desired format as per the legal requirement for the disclosure of the same to the government authority (Specified Financial Transaction).
- Review and ensure Compliance u/s 194 / 195 (etc) for payment of dividends to Resident and Non-resident shareholders /payment of TDS and e-tds return etc.
- Pro Vakil Software - Litigation System update and maintenance
4) Key Result Areas/Accountabilities:
Key Result Areas/Accountabilities
Supporting Actions
Income Tax Assessments (other than Transfer Pricing) consolidation of details and Finalisation of submissions [Common responsibilities but for different units] [2 People required co-ordination and no. of units are large i.e. [8 Plants/ 3 mines / 2 branches half the units of Hindalco]
Head-wise details are sought from units and checking of details received from units, cross verification of consolidated total of all units with Financial Statements.- The income Tax Assessment of Hindalco is very big exercise, consolidating of the details in the concise and presentable format of various expenses, Assets, Liabilities and supporting for the same wherever requires.
- Submission to Tax authority. Providing clarification and legal submission of various issues raised by the revenue authority.
- Ensuring timely submission of the details for Income tax Assessment.
- Review of order passed u/s 143(1) HIL -Coordination with tax authority for carrying out rectification for mistake apparent from record.
- Ensuring credit of TDS is granted by the tax officer as per Form 26AS and claim additional credit if not claim at the time of filing of tax return.
- Review of order u/s 143(3) and computation of tax and credit of availability of proper TDS.
Coordination with Units for preparation, documentation, and consolidation of Tax Audit Reports. [Common responsibilities but for different units] [2 People required co-ordination and no. of units are large i.e. [8 Plants/ 3 mines / 2 branches half the units of Hindalco]
Briefing to units to Income Computation and Disclosure Statement (ICDS) (Tax Standards) to units and checking of the information provided by units, disclosure of the same in Audit reports and impact in tax return.- Clarification on various sections of the Income Tax Act and Tax Audit report to units easing them to prepare the same.
- Year End provision, ensuring payment of TDS and subsequent adjustment in e-tds returns by units. Review of short payment of TDS or non-payment of TDS during Audit and instructing corrective measures.
- Checking of capital expenditure, disclosure and treatment of the same in tax laws.
- Checking of capitalization as of Tax Laws and application of rate of depreciation as per Income Tax Block and reconciliation with Financials.
- Unit-wise disclosure of GST Credit as per books.
- Stripping Cost Mining Amortisation / ARO Cost
- Quantitative details Raw materials / Finished Goods.
TDS default tracking for all units and co-ordination with units for removal of the same
Review and coordination with units. Identifying the reason for defaults and guidance to units for removing of defaults/demands.
Managing litigation track of various appeals
On Board Pro Vakil online software.- Updating of Appeal details along with issues and updating on regular basis.
- Track and updating of appeals hearing dates coordination.
Reporting of Specified Financial Transaction as required by Income Tax Act section 285A
Specified Transaction of the company needs to report in an online format the same is for cross-checking by the Government for the purpose of data mining and analysis.- Dividend
- Issue of Share /Right Issue
- Debenture
- etc.
Review and ensure Compliance u/s 194 / 195 (etc) for payment of Dividend to Resident and Non-resident shareholders
Review of Communication to be made to shareholders and update the applicability of tax rates applicable to shareholders based on their status- Shareholders Register on the record date (beneficial owner on record date) (3.82 lakh shareholders)
- Verification/validation of documents received from shareholders.
- Determining Applicable Tax Rate
- Dividend Payout and TDS thereon
- Obtaining Form 15CA & 15CB for foreign shareholders. (Non-resident 8587)
- TDS Return
- Issue of TDS Certificates (Use of Technology) (shareholder 21990)
- Significant Financial Transaction (SFT) Reporting (shareholder 381686)
Liasioning for order giving effect to Appellate order Filing of Rectification application u/s 154 No objection certificate u/s 281 for obtaining term loan from a bank Coordination for stay application getting stay order for outstanding demand for pending appeal as per the requirement of law.
Preparation of Impact on receipt of the appellate order- Filing of application with Assessing authority for granting of effect to the appellate order.
- Preparation of tax refund working and computation of interest receivable or payable as per the law.
- Liasoning with ta authority for getting the order giving effect done, 154 effects, 281 certificates, stay order, etc.
Preparation of Income Tax Appeal before the Commissioner of Income Tax (Appeals).
Completion of assessment, on aggrieved disallowances/adjustment, prepare the Income Tax Appeal to be filed before the Commissioner of Income Tax Appeals.- Payment of Challan fee.
The position is not yet evaluated. The Job Band mentioned for the position is a tentative JB and is to be considered for the purpose of hiring only. The tentative JB may change subject to actual evaluation.
Qualifications:
Bachelor Of Commerce,Master Of Commerce,ICWAI - Intermediate Exam,CA Inter
Minimum Experience Level:
1-5 Years
Report to:
Assistant Manager
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Job Detail
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Job IdJD3037784
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IndustryNot mentioned
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Total Positions1
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Job Type:Full Time
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Salary:Not mentioned
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Employment StatusPermanent
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Job LocationDadra, Dadra and Nagar Haveli, India
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EducationNot mentioned
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ExperienceYear