Team Member- taxation

Designation: NA

Location: India Maharashtra R-Tech Park Goregaon

Organization: Financial Services

Job Description:

1) Job Purpose:

To support and provide advisory on aspects relating to direct Taxation to businesses, functions within Finance department, etc and to ensure compliance to statutory reporting requirements and adherence to the timelines mentioned in the statute.

2) Dimensions:

Business, Unit, Function and Department Workforce Number

As below

Other Quantitative and Important Parameters for the job: Budgets/ Volumes/No. of Products/Geography/ Markets/ Customers or any other parameter

As below

Dimension

Remarks

1.

Stakeholders

Business Heads, FP&A Head, F&A Head, CFO, CEO, Operations, Risk, IT, Credit, other function and team members

To regularly co-ordinate with various stakeholders on all deliverables

2.

Return Filing and compliances

Income Tax Returns, Quarterly TDS returns and monthly TDS payments, SFT returns, Tax audits and any other filings related to Direct Taxation

Ensure Timely & Accurate filing of returns

3.

Response to Notices issued by IT dept

Collating details, data, information from different sources and performing analysis before submitting the same to Income Tax dept.

Ensure timely & appropriate submission of responses.

4.

Project Execution

Timely Delivery, UAT Testing, Bug reporting

Implementations of Projects like Automation, New system implementation, etc.

5.

Adhoc requirements

Statutory Audit, Management requirements and other developments

Preparation of various adhoc requirements

6.

Process improvement & re-engineering

Identification, solution, implementation, UAT and delivery

To improve processes and bring in efficiency and productivity in current processes.

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3) Job Context & Major Challenges:

Organizational Context

Aditya Birla Finance Limited ("ABFL"), a lending subsidiary of Aditya Birla Capital Limited is among the leading well-diversified non-banking financial services company in India. ABFL offers customized solutions in areas of personal finance, mortgage finance, SME finance, corporate finance, wealth management, debt capital markets and loan syndication. ABFL is registered with RBI as a systemically important non-deposit accepting non-banking finance company (“NBFC”) and is amongst the top five largest private diversified NBFCs in India based on AUM

For the year ended 31st March 2023, ABFL has a lending book of Rs. 80,423 crores and a net worth of Rs. 11,530 crores. ABFL’s long-term credit rating of AAA (Stable) has been reaffirmed by ICRA in November 2019. ABFL also has long-term credit rating of AAA (Stable) by India Ratings, Perpetual debt credit rating of AA+ (Stable) by ICRA and AA+ (Stable) by India Ratings (Stable) and short-term credit rating of A1+ by ICRA & India Ratings.

Job Context

The Team Member – Finance & Accounts will be responsible for ensuring compliance to direct Tax laws and other related requirements

Statutory compliances

To provide support in Income Tax Assessments, Tax audit and Return filing.

Collating and data from multiple sources for assessments, analysis of the data, communicating gaps identified in analysis with relevant SPOCs

Assist in preparing appropriate responses for the notices or queries raised by IT dept.

Preparing data in uploadable for presentable format.

Analysing new tax updates and provisions and analysing the applicability of the same in the current business environment and discussing the same with senior

Carrying out research for resolving the queries relating to direct Tax and assist providing advisory to different stakeholders

Preparing, checking and analyzing monthly TDS payable workings and ensuing timely payment is done for domestic as well as foreign payments

Preparing, checking and analyzing quarterly TDS return and timely submission of the same

Ad-hoc Reporting & Projects

Drive automation of current processes to enhance efficiency, accuracy and control

Identify process improvements for increasing efficiency and effectiveness.

System Improvements

Improving current systems for better and timely output

Liaising with different teams to develop or improve current systems, increase automation and develop new reports in order to reduce manual intervention and errors in reporting in SAP and other systems

Stakeholder Management

Drive cross-functional meetings to resolve recurring issues.

Provide support and assistance in issue troubleshooting and resolution to all stakeholders.

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Challenges

Co-ordination across different teams and functions on various deliverables and compliances.

Ensuring compliances through disconnected systems and processes.

To ensure integrity and accuracy of data flowing in different reports through multiple LOSs and LMSs.

Tackling the everchanging regulatory environment which will keep interfering with the business dynamics.

Coordination within the team & with other functions to ensure delivery within timelines is critical for this role.

4) Key Result Areas: Write the key results expected from the job and the supporting actions for each of these key result areas (For a majority of jobs typically there could be 4-7 key result areas)

Key Result Areas

Supporting Actions

Statutory compliances

To provide support in Income Tax Assessments, Tax audit and Return filing.

Collating and data from multiple sources for assessments, analysis of the data, communicating gaps identified in analysis with relevant SPOCs

Assist in preparing appropriate responses for the notices or queries raised by IT dept.

Preparing data in uploadable for presentable format.

Analysing new tax updates and provisions and analysing the applicability of the same in the current business environment and discussing the same with senior

Carrying out research for resolving the queries relating to direct Tax and assist providing advisory to different stakeholders

Preparing, checking and analyzing monthly TDS payable workings and ensuing timely payment is done for domestic as well as foreign payments

Preparing, checking and analyzing quarterly TDS return and timely submission of the same

Process Re-engineering and improvements

Re-design existing processes and deliver efficiency and productivity saves on the same.

Simplify reporting through automation

Self-Development

Improving understanding of overall business for ABFL, better understanding of accounting principles, create better engagement with stakeholders internal as well as external