Functional Role of a Tax Manager is to maintain books of different types of taxes of an organization. Duties of Taxation Manager include Management of Tax, Tax Compliance, Litigation, handle search and seizure, Tax Appellate Tribunal appeals, arguments handling etc.
Do you want to know in detail what a Taxation Manager does? What you should look for in a Tax Manager Resume? What are the points you should include in your Tax Manager CV? Please read below.
Responsibilities of Taxation Manager:
- Preparation of computation of total income of individual, firm, company, trust etc
- Preparing and filing of Income Tax, TDS, Goods and Service Tax (GST) return
- Tax Planning of individual, company etc
- Maintaining and monitoring of wealth of individual and company as per wealth tax rules.
- Follow up with Income Tax Department for collection of refund, rectification and appeal effect order etc.
- Handling of assessment for Income Tax, Search & Seizure, Goods and Service Tax (GST) etc.
- Attending hearing cases which are selected for scrutiny assessment before the Income Tax officer, TDS officer, GST officer as per schedule time to avoid ex-party & timely submission of documents to avoid penalty proceedings.
- Ensure to withhold tax under DTAA, certification with CA along with uploading of remittances details to Income Tax Department.
- Manage Legal MIS for Direct Tax on monthly basis.
- Computation of provisions for income tax & liability for Advance Tax and Deferred Tax.
- Preparation & finalization of Income Tax Return
- Represent before revenue authorities in relation to various tax proceedings viz. Assessments Proceedings, Re-Assessment Proceedings, Rectification Proceedings, Remand Proceedings, DRP Proceedings.
- Drafting grounds of appeals, written submission, executive summary, etc to be filed before CIT(Appeals) and making representation.
- Drafting appeals, arguments & synopsis etc, to be filed before Income Tax Appellate Tribunal and assisting in making representation.
- Undertake due diligence reviews including inter alia TDS compliance, Income tax review, eligibility of tax holidays u/s 80-IA, deduction u/s 80-IC on units located in specified areas, etc.
How to become a Taxation Manager:
Minimum Educational Qualification requirement to become a Taxation Manager is Graduate or Bachelor of Commerce (B.Com) in Accountancy along with Chartered Accountancy (CA) Intern or Qualified from Institute of Chartered Accountancy of India – ICAI. Experience required to become Taxation Manager is minimum 5 years of experience in general accountancy and taxation department as a Chartered Accountant.
Software skills Required for Taxation Manager:
MS-Word, MS-Excel, MS-Power Point
What is the Job Opportunity of Taxation Manager in the Industry?
Taxation Managers are required and hired in every industry, be it a manufacturing or service industry etc.
Salary of Taxation Manager (in India)
Salary of Taxation Manager in India ranges from 5 Lacs Rupees to 25 Lacs Rupees per annum depending upon the qualification, experience, Expertise, Company Size, Volume of Production. Generally Qualified Chartered Accountant (CA) from Institute of Chartered Accountancy of India – ICAI gets higher salary than the CA – inter background accountant.
Yes, he needs to work in taxation department in any organization or consultancy and be a chartered accountant (CA) Qualified or Intern.
There are moderate demands of Taxation Manager abroad especially in Middle east countries (Gulf), South Africa, Canada but the incumbent must know the respective tax acts and rules of that country.
Yes, he can if the person imbibes accountancy management skills while working on accountancy closely with superior Accounting Head.