Afaq Saiyed

Primary Responsibilities:

• Work with team supervisors to investigate any issues and work towards acceptable resolutions.
• Provide management of Peer Review Supervisors and assist in day-to-day management and queries.
• Keep teams motivated and equip teams to take ownership of the responsibility assigned.
• Allocate resources daily and weekly to adjust team focus toward goal attainment and track their performance.
• Playing active role in developing team, recruiting, training, backup planning, and attrition management for the team.
• Work in close conjunction with the higher management by understanding the requirements and by meeting expectation levels.

Audit Work:

(Provided Sub-Contractor services to US CPA firm namely SIKICH CPA LLC - Nov 2021 to April 2023). Assisted Sikich’s Managers in Compliance Audit for Title IV discipline which includes the following work areas:

• Reviewing Student files.
• Administrative Requirements.
• Institutional Eligibility.
• Preparation of Gen-1 and Sample selection.
• G5 and Cash Management.
• Training & Mentoring Staff.

Other Accomplishments:

• Have participated in several training sessions and worked with sample clients regarding tax forms (1040, 1065) as well as Continuing Professional Education (CPE) trainings.
• Have also conducted audits for not-for-profit vertical on several projects and possess knowledge of Employee Benefit Plans and for-profit audits.
• Managed team of 35 staff members working (sub-contractor) with Sikich CPA LLC, which was later transitioned to Sikich India.

Main duties and accomplishments:

• Managing scrutiny assessment proceedings of companies, trusts, and individuals from beginning to end.
• Executed more than 500 scrutiny assessment cases on behalf of clients during my 8 years of employment. That includes preparation of written submissions, compilation of documents, and representation before the Assessing Officer.
• Represented clients before the Income Tax Tribunal in respect of tax appeals.
• Responsible for Transfer pricing and Search & seizure matters.
• Work with other managers, assisting in Audit and Finalization of Accounts.
• Handling other tax proceedings such as penalty, survey proceedings, tax recovery, appeal effects, refunds, and rectifications.
• Other statutory compliance, and reporting.
• Liaising with Government officials.

Other duties:

• Preparation and filing of various statutory forms & compliance on behalf of clients.
• Have successfully filed 300+ Income Tax Returns for Individuals and Partnership firms.
• Administrated audit team in government audits.
• Reviewing Tax Audit Reports prepared by interns.
• Tax calculation, working of capital gain tax arising on the sale of an asset, tax liability, etc.
• Drafting partnership deeds, contracts, indemnity bonds, other legal contracts, and lease & license agreements.
• Conducted timely training for interns on Auditing and Litigation.

Accomplishments:

• Appeared with Senior counsels before the Income Tax Appellate Tribunal [Ahmedabad Bench] in a significant decision, dismissing 628 tax appeals filed by the Revenue given revision of Monetary limits for departmental appeals vide CBDT Circular dated 08th August 2019. [Ref: ITA No. 1398/AHD/2004 in ITO Vs. Dinesh Patel]

• Drafting writ petitions, arbitration agreements, deeds of declaration, rejoinders, affidavits, MOUs.
• Drafting written submissions and representing clients before the Commissioner of Income Tax (Appeals), Income Tax Appellate Tribunal (ITAT), and Bombay High Court regarding tax appeals. Prepared approximately 100 of written submissions.
• Other legal and statutory compliance.
• Involved in consulting clients and stakeholders regarding complex tax issues and queries.
• Mentored junior associates, fostering professional growth and helping them reach their full potential.

Worked with Advocate late Mr. SNL Agarwal (IRS), Former Chief Commissioner of Income Tax, Gujarat Region, IN:

• Engaged in drafting written submissions, affidavits, agreements, and rejoinders
• Representing clients before CIT(Appeals), Tribunal, and Gujarat High Court regarding tax appeals
• Handling compliance and secretarial functions
• Engaged in the finalization of books of accounts of individuals
• Legal research and coordination with senior lawyers
• Computation of total income and filing of Income Tax Returns.