Devireddy Swapna
Joint Commissioner Of Income Tax
Tirupati
Summary
Dedicated taxation professional with an excellent knowledge of transfer pricing issues and corporate taxation issues. Skilled in working under pressure and adapting to new situations and challenges to best enhance the organizational brand. To seek and maintain full-time position that offers professional challenges utilizing interpersonal skills, excellent time management and problem-solving skills.
Overview
21
21
years of professional experience
5
5
years of post-secondary education
1
1
Language
Work History
Joint Commissioner of Income Tax
Income Tax Department
Tirupati
01.2020 - Current
- Developed team communications and information for meetings, issuing instructions and disseminating information to the team.
- Led projects and analyzed data to identify opportunities for improvement.
- Created plans and communicated deadlines to complete projects on time.
- Increased customer satisfaction by resolving issues.
- Guided the team in conducting the tax audits
- Used coordination and planning skills to achieve results according to schedule.
- Developed and implemented performance improvement strategies and plans to promote continuous improvement.
- Collaborated with team members to achieve target results.
- Developed and maintained courteous and effective working relationships.
- Participated in continuous improvement by generating suggestions, engaging in problem-solving activities to support teamwork.
- Actively listened to customers, handled concerns quickly and escalated major issues to supervisor.
- Identified issues, analyzed information and provided solutions to problems.
Deputy Director of Income Tax
Income Tax Department
Mumbai
01.2015 - 12.2020
- Had done tax audits of corporates, individuals, transfer pricing audit of various corporates, enforcement work such as conducting searches, participating in the searches and disposing off the tax evasion petitions, work related to head quarters wherein the administration part plays an important role
- Collaborated with team members to achieve target results.
- Handled the legal issues in the cases of various taxpayers such as filing of appeals, para wise comments for writ petitions, helping the department in arguing the cases in the Appellate Tribunal etc
- Handled the new scheme called Vivaad se Vishwas launched by the government regarding the settlement of legal disputed pertaining to both the department and the taxpayers
- Disposed the grievances such as CPGRAMS, e-Nivaran, right to Information requests etc
- In the case of information shared across the agencies such as Central Bureau of Investigation (‘CBI’), Enforcement Directorate (‘ED’), Investigation Wing of the Income Tax Department, Customs department, state tax authorities in the Regional Economic Intelligence Council which is an information sharing mechanism across the bureaucracy, investigation was done pertaining to any tax evasion in the respective cases and the escaped amount was brought to tax
- Dealt with the issues pertaining to bogus long term capital gain claimed by the taxpayers by transacting in the penny stocks in the stock exchange
- Dealt with the transfer pricing audit of various corporate groups famous in the fields of finance, power, software, pharmaceuticals, infrastructure etc
- Handled lot of transfer pricing issues such as over invoiced goods purchased from foreign countries, how the goods are routed for minimum profit to be shown in the country, royalty issues, software pricing issues, loan and interest issues, sale and purchase of goods which involved usage of various software such as Prowess, Capitaline, Royaltystat, Bloomberg, TIPS etc which help the transfer pricing officer to arrive at the comparable prices and profits
- In certain cases where the data was not available, letters for exchange of information was written to the authorities in the corresponding countries for arriving at the proper pricing
- Analysed and decided whether the taxpayer had adhered to the norms prescribed in the Advance Pricing agreement signed by the taxpayer with the department and flagged the cases to the Central Board of Direct Taxes where the taxpayer didn’t adhere to the previously decided norms
- Dealt with the legal issues arising out of the transfer pricing audits
- Ensuring the smooth functioning of Principal Director of Income Tax (Investigation)’s office
- Coordinating with the other enforcement agencies
- Coordinating with the foreign tax division for the receipt of information asked for by the field offices in the cases of undeclared accounts in HSBC pertaining to various tax payers
- Coordinating with SEBI in cases of bogus penny stocks which involved in routing the unaccounted money into bogus Long Term capital gains and giving the requisite material to Securities and Exchange Board of India (‘SEBI’) for action on the said companies
- Receiving the reports on the search cases and survey cases, briefing the higher ups on the same and facilitating giving approval/communicating certain changes in the said cases
- Facilitating the launch of prosecution against the errant taxpayers
- Facilitating the information to be sent to the field offices after preliminary investigation in case of Tax Evasion petitions
- During this tenure, demonetization was announced in India, hence, I was involved in setting up of a help line for receiving information pertaining to the monetization of black money by anybody, filtering the information received, facilitating any enforcement action against the defaulters and so on.
- Conducted research, gathered information from multiple sources and presented results.Conducted enforecement actions in the areas of real estate business and jewellery business on account of the discrepancies found in the taxpayers disclosures based on which parallel accounts maintained by the taxpayer were discovered thereby unearthing the tax evasion done by the taxpayer
- Attended and participated in a lot of enforcement actions pertaining to different sectors such as infrastructure, contractors, pharmaceutical companies, film personalities, builders and developers, traders, charitable trusts etcas a part of team and did substantial work in the said actions
- Was involved in 360 degree profiling of cases which involve the total details of a person, family tree, the companies in which the said person is involved and any other related activities
- Wrote foreign tax references to various countries through Foreign Tax and Tax Research division to find out the details of any suppressed economic activities of a person in other countries
- Investigated the Suspicious transaction reports and tax evasion petitions and took those to logical conclusion wherein the said reports were closed or passed on field offices for necessary inquiries
- Handled cases related to unaccounted foreign assets, penny stock cases, bogus purchases, wrong claim of any exemptions etc.
Assistant Commissioner of Income Tax
Income Tax Department
Mumbai
01.2010 - 12.2014
- Dealt with cases involving the search and survey actions and raised tax demands against the taxpayers
- Have dealt with the cases pertaining to pharmaceutical companies and the freebies given by them to doctors to influence the decision of the doctors and claiming the said expenditure in the books of accounts
- Dealt with cases of non-corporate tax payers
- Most of the cases pertained to the claiming of bogus expenditure by the taxpayers in the form of purchases
- Dealt with the legal issues pertaining to the charge in the cases of various taxpayers
- Had undergone training in National Academy of Direct Taxes regarding the Income Tax Act and Rules.
Regional transport officer
Government of Andhra Pradesh
Hyderabad
01.2007 - 09.2010
- Issued driving licenses to people, issuing permits to the vehicles, checking their fitness, seizing any vehicle which flouts the rules etc.
Software Engineer
Computer Sciences Corporation
Noida
08.2002 - 08.2006
- Worked on Mainframes on COBOL in the domain of Insurance
- Was involved in development and maintenance of the systems
- Reviewed project specifications and designed technology solutions that met or exceeded performance expectations.
- Worked with software development and testing team members to design and develop robust solutions to meet client requirements for functionality, scalability and performance.
Education
Masters in Taxation And Business Laws - Taxation And Business Laws
NALSAR
Hyderabad 07.2011 - 07.2013
Bachelor of Technology - Computer Science And Engineering
Jawahar Lal Nehru Technological University
Hyderabad 11.1998 - 04.2002
Skills
Income Tax Laws, Investigation, Enforcement, Transfer pricing, Advance Pricing Agreements, Finance, Tally, Mainframe, COBOL, C, C, VB, VC, Java, Software Development Cycle, Domain knowledge in Insurance
Understanding of taxes
Taxation proficiency
Staff Management
Strategic planning
Policies and procedures
Verbal and written communication
Improvement initiatives
Accomplishments
- Received Best Female Employee Award 2022 for International women's day
- Supervised team of 100 staff members.
Timeline
Joint Commissioner of Income Tax
Income Tax Department
01.2020 - Current
Deputy Director of Income Tax
Income Tax Department
01.2015 - 12.2020
Masters in Taxation And Business Laws - Taxation And Business Laws
NALSAR
07.2011 - 07.2013
Assistant Commissioner of Income Tax
Income Tax Department
01.2010 - 12.2014
Regional transport officer
Government of Andhra Pradesh
01.2007 - 09.2010
Software Engineer
Computer Sciences Corporation
08.2002 - 08.2006
Bachelor of Technology - Computer Science And Engineering
Jawahar Lal Nehru Technological University
11.1998 - 04.2002