CA - Accounts Payable | Gurgaon | MNC Fashion Retail

Accounting Operations & Financial Reporting:

• Prepare monthly MIS and analyzing the data to identify trends, variances and improvement opportunities.
• Prepare financial statements, including balance sheet, income statements and cash flow statements and notes to accounts.
• Prepare inventory reconciliation, AP reconciliation and expense reconciliation.
• Prepare budget, forecast and financial projections.

Tax Compliance:

• Prepare GST tax returns (GSTR-1, GSTR-3B, GSTR-9 & 9C), ensuring compliance with tax laws and regulations.
• Prepare and deposit TDS data with the reconciliation of return.
• Prepare replies for tax matters related to GST and Income Tax and others.

TDS Monthly, Quarterly and Annual Compliance

Monthly Preparation of Data

• Extract TDS Ledger from Balance Sheet and Cross check TDS amount with expense report and calculating threshold under section 194 Q and under section 197 regarding the TDS Lower deduction certificates.
• Passing reversal entries regarding bills for which TDS was earlier deducted on Advance.
• Finalization of data with the help of consultant and deposit TDS on time.

TDS Return Filing (Quarterly)

• Prepare TDS sheet for filing of quarterly TDS Return with the requisite information like challan details, Vendor details, expense amount details.
• Club quarterly TDS data with challans
• Finalization of data for quarterly filing
• Download and circulate Form 16 A to the respective PIC.
• Reconciliation of books v/s TDS Return with consultant.

Section 194 R

• Use the data prepared by AR team (COGS to marketing) and preparing the data with the help of mails received during the month.
• Prepare data for Store pickup and track the goods send on return basis and approval from the respective department.
• Entry in the system regarding section 194 R TDS entries.

TDS Data for Statutory and Tax Audit Purpose

• Prepare TDS reconciliation books v/s return and balances coming in balance sheet.
• Prepare sheet for statutory dues payable as per the audit entries.
• Prepare data for section 34A, 34B, 34C as required to report in Tax Audit report.

TCS Monthly, Quarterly Compliance

• Get declaration from the customer for checking TCS applicability
• Prepare TCS applicability sheet as per the declarations received from the customers.
• Extract AR Ageing of preceding month and AR Register of current month.
• Extract payment transactions of current month for preparing the details of customer wise monthly payments.
• Preparing of final sheet for liability based on above data.
• Preparing of Quarterly Data for filing of TCS return and follow up with the consultant for finalization and filing of the same.

Audits: -

• Preparation of data for statutory audit like financials, notes to accounts and accounting policies notes.
• Preparation of tax audit clauses working like 34A and 44 etc.
• Preparation of income tax return of the company with complete tax computation.
• Tax Audit along with preparation and filing of tax audit report.
• Documentation for direct tax assessment and coordinating with consultants.
• Monthly closure of books of accounts with the variance analysis of cost and profits.
• Income Tax/ Transfer Pricing Assessments cases