Assistant Manager - NRI Direct Tax - CA

Experience: 2 to 4 years in Direct tax (Post Qualified CA)

WorkMode: Hybrid ( 4 days in office and remaining days' work from home)

WorkTiming: Monday to Friday 9 hours, and Saturday (alternate) 4.5 Hours

JOBRESPONSIBILITIES/JOBPROFILE:

We are looking for someone with Direct Taxation profile, an articulate, fast learner with good research and interpretation skills. The profile offers a great combination of advisory and compliance work.

It also gives a great opportunity to someone who is looking to advance his/her career in International Taxation. Adequate Training will be given to the CA in DTAA and FEMA laws.

[95% Individual Tax and 5% Corporate Tax work]

PRIMARY:

Advisory:

1. Advising NRI clients on Domestic Tax, DTAA, FEMA & Legal matters
2. Handling complex queries from Banks & NRI Clients Tax, DTAA, FEMA & related compliances
3. Residential Status and allied Tax Planning for NRI/RNOR clients
4. Advising NRI clients on purchase /sale of immovable property in India including TDS provisions, reinvestment benefits, legal processes, etc.
5. Estate Planning through WILL/ formation of Trusts
6. Returning Indian and Recent Immigrations Tax and FEMA advisory
7. Structuring in set up of entities in India/Dubai/Singapore/other countries considering Income tax laws, international tax laws, FEMA, and other applicable statutes
8. Assist GPK Dubai Office with queries on Tax & FEMA, if any
9. Advising on borrowing and lending in India and outside India, giving and receiving Gifts in India as per Income Tax Act and FEMA
10. Advisory on Foreign Investments like Investment under FDI, Investment through Proprietorship Concern.

Compliances:

1. Preparing and supervising Income Tax Returns prepared by Juniors
2. Tax Liability and Advance Tax computations prepared by juniors of HNI and other NRI/RNOR/ROR clients
3. Attending various Notices, Scrutiny Assessment, Reassessment cases
4. Repatriation / Remittances (Form 15CA/CB) and LRS requests from Banks/ NRI Clients
5. Tax Exemption Certificate (TEC) / Lower Deduction certificate (Sec. 197) applications
6. Attending to PAN/Aadhaar card issues of NRI clients
7. Application of condonation of delay to Income Tax Department and submitting Basis of Filing Tax Return as needed for HNI clients
8. Filing RBI applications as per the provisions of FEMA and Compounding applications in the case of non-compliances under FEMA

US Tax related work (if applicable, training to be given depending on interest area/ job profile):

1. Compiling Indian Income / Assets of US taxpayers
2. Preparation of Statement of Highest Balances for reporting in FATCA (Form 8938) and FBAR (FinCEN Form 114)
3. Foreign Tax Credit applicability - Calculation of Effective Tax rate to identify actual taxes paid in India and advisory to avoid double taxation
4. Advisory on Gifts, Estate & Inheritance: - Implications in India and US and Tax Rates in US
5. Advisory on US Residential Status to optimize tax implications/compliances
6. Planning to reorganize/restructure US LLC and Consultancy Income received by Indian Resident therein basis tax rules in India
7. Pre-Immigration Tax Planning to residents/worldwide clients who are looking to move to the US.

SECONDARY:

1. Leading a team and guiding/mentoring article clerks
2. Presentations to Banks for NRI services
3. Business Development
4. Co-ordination and communication with Lawyers/Associates for assisting clients in legal/regulatory matters
5. Preparing Standards on Tax, DTAA and FEMA
6. Development of content:

• NRI Tax Services Website
• Booklets/FAQs for Banks

LEARNINGS/KNOWLEDGE UPDATION : -

• Seminars on Tax & FEMA
• Any Certification Courses
• Reading Books: IT Act, Master Guide to IT Act, IT Rules, Commentary for typical cases, ITRs and ITDs for some cases, Companies Act, 1956 for some assignment.
• Journals: ICAIs monthly Journal for members.
• Browsing Any Work Related Websites: Institutes Official site, Income tax site, Taxmann.com, FEMAONLINE.com

REPORTING STRUCTURE (DAILY, WEEKLY OR MONTHLY BASIS):

• Reporting to Kirit sir on weekly basis
• Reporting to immediate Senior on daily basis

Required skills:

2-4 experience in Direct Tax which includes:

(i) Preparing and filing Income Tax Returns

(ii) Tax Liability and Advance Tax computations

(iii) Attending Notices from the Income Tax Department such as non-filing, 143(1), 201, etc.

(iv) Attending Scrutiny and Reassessment cases

(v) Computation of Capital Gains as per Income tax laws (for Shares, Mutual Funds, Immovable Property, etc).

(vi) TDS rates as per Income tax laws

(vii) Residential Status and Scope of Total Income provisions as per Income tax laws

(viii) Sale of immovable property in India - TDS applicability, lower deduction certificate, reinvestment benefits, etc.

Desired Skills:

1. Direct Tax experience in CA firm or Big Four
2. Good written and oral communication
3. Fast learner, good research and interpretation skill