Direct Tax Profile
1. Direct Taxation
• Handling Tax Audits and Assessments
• Calculation, estimation, and timely payment of Advance Tax, and Self-Assessment Tax and preparation of Tax Provisions and related Accounting Entries.
• Computation of Income and Filing of Corporate Income Tax Return.
• Effective TDS Administration appropriate deductions and timely deposit of the deduced tax with the government and timely filing of TDS Returns.
• Filing online reply and comments on online IT notices/orders with CPC
• Review of Tax Assessment and Appeal Orders and Preparation and Filing of Appeals.
• Compilation & preparation of workings/data/details, collating documents, and preparation of submissions for tax assessments/appeals/ dispute resolution panel (DRP) matters.
• Independently appear and represent the company before IT authority in Assessments and Appeals at the CIT/ DRP/ ITAT levels and timely submit and complete assessments/appeal hearings.
• Draft preliminary written submissions and preparation of synopsis and exhibits for filing of appeal before ITAT/HC.
• Briefing the matter under appeal to counsel who is going to argue before ITAT and HC
• Drafting cases for legal opinion on tax matters and advance rulings
• Compounding application, where needed.
• Research complex Tax theory/literature/tax laws, and provisions, and apply them to specific needs.
• Determine all Information required to ensure complete & accurate Tax Assessments and Tax Compliance procedures, formulate a plan to gather and communicate information and ensure necessary actions.
• Efficiently and effectively liaison with the concerned Tax Departments and Tax Authorities for timely completion of assessments, appeals, and pursue Refund Orders.
• Employees Taxation, including taxation of expatriates.
2. Tax Accounting Related Matters
• Tax accounting, income tax provisions, deferred tax provisions, tax schedules and other statutory compliance relating to tax accounting matters.,
• Income Computation and Disclosure Standards (ICDS), Analysis of ICDS and repercussions for the company from tax perspective and compliance with the notified standards including computations and disclosure norms.
• Timely reporting of various orders from ICFR angle and taking positions on contingent liabilities on direct tax issues
• Forecast of effective corporate tax rate, tax cash flow, etc.
3. Transfer Pricing International & Domestic
• Compliance of all TP regulations for the company and its foreign affiliates
• Completing Transfer Pricing Audits, Study Reports, and supporting Documentation, including Transfer Pricing Agreements, and filing the reports in time.
• Reply to assessment notices/TP notice
• Preparation of working/ details, Collating documents, and preparation of submission – for Transfer Pricing Assessments/Appeals/DRP matters.
• Appear before IT Transfer Pricing assessment authority/ appellate authority/ DRP for assessment/appeals/ DRP matters and timely submit and complete assessments/appeal/dispute resolution hearings.
• Handling proceedings w.r.t. TP Audit preparing TP study based on India perspective
• Standardising formats for reporting benchmarks analysis for selecting an appropriate method
4. DTAAs, Withholding Tax & Foreign Tax Credits
• Examining Double Tax Avoidance Treaties of different countries and determine the availability of credit for foreign taxes paid in a scenario where tax treaty exists/does not exist and deal with the DTAA tax credits/foreign tax credits (FTC) including WT compliance
• Examining withholding tax (WT) implication and compliance under 15CA and 15CB, w.r.t. various foreign payments/remittances.
• Monitoring FTC of foreign branches/affiliates.
• Calculation of beneficial tax exemption for foreign sourced income.
• Dual Income Tax (DIT) relief calculation
5. General
• Ensure overall, efficient Tax Administration and timely delivery of all tax work and provide timely and high-quality Internal Advisory Services relating to all Direct Taxes and Transfer Pricing matters.
• Preparation of Tax Status update, with all MIS relating to Direct Taxation and Transfer Pricing.
• Analysis of the annual Union budget, and its impact on the company and share with different departments.
Required Candidate profile
• To be tailor-fit for the above skillsets
• Significant experience in handling advisory and litigation related to Direct tax
• Self-Starter, independently sets goals, objectives, and priorities
• Strong interpersonal skills in addition to strong oral and written communication skills including legal drafting /technical drafting
• Leadership and presentation skills
• People management and mentoring skills
• Keep up to date with local and national business and economic issues
• Should bring ideas on Tax Saving, Tax Leakages and Effective Tax Planning
Few important Job specifications for this position
• Should be of Manufacturing Industry
• SAP
• Must have handled 20-30 registrations and SEZ units
• Must have operated in environment of 2-3 subsidiary companies