Finance Officer

Job Description

Finance Officer (Taxation and Accounts Payable.)Qualification: Bachelors degree in Commerce and/or Accounting or intermediate Chartered Accountant. Specialization in direct and Indirect taxes.Experience in US Taxation preferred.Experience: 5-6 years experience in tax and related compliances including computing employee tax liabilities;Effective from: ImmediateWork hours and Days: 8 hours per day; 5 days/week (flexible, based on needs)Other Requirements: Extremely proficient in Spreadsheet and ERP based accounting systems. High degree of accuracy/attention to detail. Knowledge of Indian tax lawsGross Monthly Salary Range:Rs.85,000/- to Rs.97,000/- per month including benefits (Provident Fund, Bonus, Medical Allowance, Health Insurance, etc., based on experience, skills, and qualification) PositionResponsibilities Reporting to the Financial Controller, this position is responsible for day to day administration of employee and vendor transactions and determination of applicable taxes such as collection of tax-related information, deposit of monthly taxes, quarterly filing of tax returns, withholding of taxes from payroll and all vendor payments, as applicable, and for advising the management on changes to tax laws and their impact. This is for both direct and indirect taxes.Employee taxation:

1. The all payroll components to be assessed to determine tax eligibility based on defined salaries and benefits, including designing more tax efficient payroll. Ensuring the payroll software is updated with the tax laws from time to time.
2. Prepare tax computation sheets based on the investment declaration form (Form 12BB), validate completeness of data as per Sec. 80 of the Income Tax Act. Ensure accuracy of tax computed by the Payroll module and share with employees. Enable monthly tax deductions through payroll software, including filling up tax deposit challans within the statutory time-frame.
3. The incumbent should also possess requisite expertise on taxation pertaining to International workers- DTAA eligibility and the related Indian tax compliances.
4. Facilitate quarterly and annual filing of tax returns.
5. Complete accounting and posting Journal entries for all tax related transactions on a monthly basis.
6. Ensure completion of documentation for annual tax assessment, as per Income tax assessment Notice u/s 143 (1) / 143 (2),by applicable employees.
7. Prepare reconciliation data for annual statutory audit.

Vendor tax withholding

1. Determine and validate tax status of vendors.
2. Categorize vendors in SAP to ensure correct tax deduction per Section 194.
3. Ensure monthly tax deposit based on SAP data and file challans.
4. Filing of quarterly and annual tax returns, including e-filings.
5. Provide TDS certificates (Form 16A) to vendors, as needed.
6. Ensure GST compliance, as applicable, for vendor payments, which includes determining appropriate GST rates that might have been charged in the invoices, and check HSN numbers where needed.
7. Obtain Tax Residency certificate (TRC) or Tax Declaration from international vendors, as applicable.
8. Should possess knowledge of other direct and indirect tax applicability on various transactions.

Accounts Payable

1. Invoice process-Contractual , Rent & Service invoices.
2. AP Month End report for the TDS payment
3. Review & Validate provision for year-end close .
4. Review and check invoices for the tds rate applicable as per the act

Payroll & General LedgerMonthly Payroll Run Prepare and validate the Salary registers for payment for all categories of employees including contract/ external substitutes). Ensuring company policies and procedures are followed. Thereby subsequent GL posting of salary.

Keyskills :
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