Sh Taxation

**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.
- 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 company’s 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.
- 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.
- 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 appe