Summary
Overview
Work History
Education
Skills
Languages
Projects
Accomplishments
Extracurricular Activities
Timeline
Generic

Prakash Vishwakarma

Goregaon(East)

Summary

Dynamic taxation professional with over 16 years of experience, including significant contributions at Marico Ltd. Expert in independent tax audit management and proficient in TDS provisions. Recognized for exceptional analytical thinking and effective communication skills, ensuring timely compliance and successful completion of complex tax assessments and audits.

Overview

26
26
years of professional experience

Work History

Executive Taxation

Marico Ltd
Mumbai
10.2008 - Current
  • Preparation of Income Tax Provision, Advance Tax and Income Tax Budget working. Preparation of computation of Income for filing ITR.
  • Guiding team in day to day activities of TDS and Foreign Remittance.
  • Liaisoning with Auditors in completion of Transfer Pricing Audit and closure of Transfer Pricing Study Report within timelines.
  • Filing Master File and CBCR
  • Experience of handling of Income tax Assessment, Transfer Pricing Assessment and TDS Assessment.
  • Preparation and filing of reply towards Income Tax and Transfer Pricing Assessment.
  • Independent handling of Tax Audit and liaisoning with Tax Auditors.
  • Independent handling of Cost Audit data –Para-10 (International Transactions)
  • Regular check on the margins earned in international transactions by subsidiaries.
  • Ensuring cross charge to all overseas subsidiaries periodically.
  • Monitoring the deposit of Tax Deducted at Source (TDS) at company level (for sections other than Salary).
  • Ensuring quarterly filing of ETDS/ETCS Return.
  • Monitoring the tax collection at source (TCS) and ensuring filing of ETCS Return (Form 27EQ) at company level.
  • Foreign Remittances towards import of services: - Monitoring the entire process up to payment .Ensuring the complete documents including 15CA and 15CB forms.
  • Scrutiny of expenses from TDS point of view.
  • Monitoring DBU Compliances and ensuring timely income tax compliances.

Senior Officer-Taxation

Asian Paints Ltd
Mumbai
02.2000 - 09.2008
  • Company Overview: India’s No.1 Paint Company
  • Preparation of Computation of Income and Form 3CD (Tax Audit ).
  • Ensuring and Monitoring the accounting of Service tax done by users and guiding them.
  • Ensuring and monitoring the central deposit of Service Tax at company level on :- Goods Transport Agency, Import and export of services, Ensuring timely recoveries of service tax from sister concerns
  • Ensuring the distribution of service tax credit to all the plants.
  • Monitoring the deposit of Tax Deducted at Source (TDS) at company level (for sections other than Salary).
  • Ensuring quarterly filing of ETDS Return form 26 and 27.
  • Assisting in Form 24 (ETDS return on salary)
  • Monitoring the tax collection at source (TCS) and ensuring filing of ETCS Return (Form 27EQ) at company level.
  • Foreign Remittances towards import of services: - Monitoring the entire process up to payment .
  • Quarterly deposit of Fringe benefit tax and filing of Annual Return.
  • Scrutiny of expenses from TDS, FBT and accounting point of view. Ensuring corrections of incorrect bookings.
  • Assisting in vendor related booking queries and Expense related booking queries.
  • Had the opportunity to assist in preparation of Consolidated Income Statement and Balance Sheet for last three years.
  • Keeping the health check up of all tax related Accounts.

Education

Diploma - Tax Management

Welingkar Institute
12.2006

Graduation - Commerce

University of Mumbai
04.1998

Skills

  • Independent handling of Tax Audit, Transfer Pricing and Income Tax Return
  • Proficiency in TDS provisions and recent developments
  • Due experience in Foreign Remittances for Services
  • Knowledge of Tax Provisions and Advance Tax workings
  • Good SAP working experience and Ms-office
  • More than 16 years of experience in varied areas of Accounts and Taxation
  • Teambuilding & Staff Supervision
  • Excellent administrative, organizational and communication skills
  • Tax compliance
  • Transfer pricing
  • Income tax assessment
  • Tax audit management
  • Regulatory knowledge
  • Analytical thinking
  • Time management
  • Attention to detail
  • Effective communication
  • Problem solving

Languages

Hindi, English, Marathi, Gujarati

Projects

In Asian Paints :, a) Centralization of TDS, b) Automation of calculation of Monthly Service Tax Credit through SAP., c) Automation of Monthly Service Tax Liability on GTA., d) Automation of calculation of Monthly Service Tax Liability., In Marico :, a) Structured the entire TDS deduction system through scrutiny of expenses., b) Responsible to bring harmony and educating all major departments regarding TDS deduction on monthly basis and on yearend provision., c) Automation of Foreign Remittance., d) Automation of Cross Charge Activity to bring discipline in the process and save on time., e) Centralization of TDS in all Regional Offices and Plants.

Accomplishments

  • Academic
  • 34th Rank in SSC in M.C.G.M ‘School.
  • Stood First in College in HSC (Sanskardham College).
  • Stood first in College in T.Y.B.Com (J.M.Patel College of Commerce)
  • Workwise
  • Received CFO Awards towards implementation of following :-
  • A) TDS on yearend provisions through SAP on open Pos.
  • B) TCS on sale of goods.
  • C) TDS on purchase of goods.
  • Prepared the automated portal as below :-
  • A) Foreign Remittance -process from end-to end.
  • B) Cross charge of time cost.
  • Getting highest increments in Accounts Dept including for 2006-07.
  • Received merit award for consecutive 3 years.
  • Super user Group member for SAP R/3 FICO.
  • Honors and Awards
  • Received highest grade in the category of increments .
  • Receiving Meritorious award for outstanding performance for last four consecutive year.
  • In the Super user category of company for SAP.

Extracurricular Activities

Reading of good motivational books. Spending time with family and friends. Visiting and exploring new places.

Timeline

Executive Taxation

Marico Ltd
10.2008 - Current

Senior Officer-Taxation

Asian Paints Ltd
02.2000 - 09.2008

Diploma - Tax Management

Welingkar Institute

Graduation - Commerce

University of Mumbai

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Prakash Vishwakarma