Naresh Palakodeti

Financial Reporting and Compliance:

• Trial balance and GL review on a regular basis.
• Prepared monthly financial statements for management review and compliance purposes.
• Coordinated external audits, ensuring timely completion and accurate documentation.
• Lead and represent internal and external audits.
• Managed general ledger entries, maintaining accurate records of financial transactions.
• Oversee cash flows, future cash flows, and dynamic liquidity for every quarter ending, to present before ALM, and preparing data with respect to MFIN and Sa-Dhan.

Budgeting and Forecasting:

• Lead the preparation of annual budgets and rolling forecasts.
• Conduct variance analysis, and provide insights to senior management.
• Monitor and report on financial performance against budgets.
• Collaborate with functional heads to drive profitability and cost optimization.

Accounting, Tax, and Financial Operations:

• Manage all aspects of accounting, including payables, receivables, and bank reconciliations.
• Ensure timely and accurate closing of books on a monthly, quarterly, and annual basis.
• Oversee inter-branch transactions, and ensure accuracy in financial records.
• Manage tax processes, recordkeeping, and filings; ensure compliance with all governmental reporting and registration requirements.

Strategic Financial Management:

• Provide financial analysis and guidance on strategic decisions.
• Implement process improvements and system-based controls to enhance efficiency.
• Leadership and team management.
• Ensure the continuous professional development of the team members.

• Monitoring and preparation of monthly GST returns, including ISD returns, within statutory timelines, and preparation for payment of IT-TDS payments, and filing of Form 15CA for foreign remittances.
• Calculation of tax liability, MAT liability, advance tax, deferred tax calculations, and accounting thereof.
• Finalization and review of tax schedules before submission to the Tax Auditors and Statutory Audit.
• Responding to notices, show cause notices issued by the department with respect to. Service tax, VAT, and attending personal hearing.
• Prepare monthly and quarterly management accounts for the organization, including reports to the Finance Committee, and manage month-end and year-end closure procedures.
• Assistance in attending to tax litigation and other departmental/appellate matters, including corporate tax assessments, disposition of nil/lower tax withholding certificates (application under Section 197), rectification applications, tax refunds, transfer pricing matters, etc.
• Close coordination with the outsource partner in handling direct tax litigation cases before the AO, TPO, CIT(A), DRP, ITAT, and HC levels; discussing the written submission prior to filing, and preparing backup documents.
• Coordinating with the external auditors for the tax audit, transfer pricing audit, and assistance in passing tax adjustment entries in Oracle Financials.

• Filing of Service Tax Returns, VAT Returns, and IT TDS Returns.
• Giving tax inputs for the bidding team.
• Follow-up on SAD refund claims from the Customs Authority.
• Liaisoning with tax authorities with respect to. Reduction of contingent liability and for refund claims from VAT and Service Tax authorities.
• Attending to all tax notices, partnering with tax consultants, and filing appeals with various tax authorities.
• Advising businesses on various tax issues and formulating strategies to address various changes in tax laws impacting businesses.
• Advisory on Withholding Tax for non-resident payments and cross-border transactions.
• Tax compliance for expatriates includes withholding tax issues, annual tax compliance, and an Income Tax Clearance Certificate.

• Handling of audit work in respect to all the business activities.