Sourav Jain
Delhi
Summary
Experienced tax and accounts professional with more than 14 years of expertise in tax codes, regulations, tax structuring, and cross-border transactions.
Skilled in effectively managing compliance and planning strategies to minimize tax liabilities. Strong communication skills and ability to provide strategic guidance for business objectives.
Overview
17
17
years of professional experience
Work History
Head - Taxation
Fortum India Private Limited
Gurugram
10.2018 - Current
- Managed Direct and Indirect tax compliances of Fortum group, including transfer pricing
- Contributed to management's decision-making process, policy formulation, and planning by offering tax expertise.
- Managed cash flows through budgeting and building comprehensive MIS reporting
- Calculated and analyzed deferred taxes to optimize financial reporting.
- Coordinated with internal departments, finance team, and foreign colleagues to optimize tax planning and minimize tax burdens.
- Provided tax planning, structuring, and support for diverse special projects such as divestment, merger, and capital reduction, ensuring their due diligence.
- Evaluated the impact of cross-border transactions on taxes by analyzing relevant domestic tax legislation and DTAA provisions.
- Completed statutory audits including Tax audits, TP audit, and GST audit
- Provided support for diverse audits pertaining to the Companies Act.
- Reviewed agreements/contracts from a tax perspective.
- Handled assessments, appeals, and tax department audits for group, including foreign entities.
- Provided consultation on funding alternatives while taking into account tax and regulatory considerations.
- Ensured compliance of Fortum's overseas subsidiaries in India with relevant tax laws
- Secured lower withholding tax certificates and NOCs from tax authorities.
- Minimized tax leakage while ensuring timely compliance for direct and indirect transfer of Indian SPV by foreign entity, including acquiring necessary valuation reports.
- Identified and resolved potential tax issues proactively while keeping management informed of any changes in tax laws.
- Ensured compliance with International Finance Corporation (IFC) standards by implementing effective tax controls.
- Proficiently handled computation of TDS, advance tax and GST.
- Managed complete documentation for processing international payments including Form 15CA-CB, TRC, and Form 10F.
- Managed both account receivables and treasury efficiently.
Manager – International Tax and Regulatory
KPMG
Gurugram
08.2013 - 10.2018
- Assisted clients in resolving various tax issues related to outbound and inbound investments, funding options, etc.
- Managed assessment and appeal of taxes for multiple corporate entities.
- Oversaw direct tax compliances for multiple corporate clients.
- Evaluated cross-border transactions, taking into account domestic tax law and DTAA.
- Ensured compliance with regulatory requirements for payment to non-residents via diligent adherence to form 15CB documentation protocol.
- Delivered expert insights on PE-related issues, evaluating risks and exposure associated with different transactions after conducting extensive research on tax treaties.
- Delivered proficient evaluation on optimal approaches to create a business presence in India.
- Offered expert advice on maximizing financial gains and minimizing regulatory risk in relation to Indian SPV.
- Ensured compliance of advance tax, TDS, and GST across multiple corporate clients.
- Assisted in due diligence and developed international tax planning strategies.
- Provided guidance to junior staff in addressing clients' queries.
- Conducting business analysis and creating effective tax reduction plans.
- Provided guidance on the impact of different regulations.
- Assessing and implementing new tax regulations.
Tax Executive
T R Chadha & Co
New Delhi
12.2010 - 07.2013
- Managed and resolved income tax assessments and appeals for diverse clients
- Examined contracts from a tax standpoint
- Finalized accounts to ensure accuracy and completeness of financial records
- Managed computation of monthly service tax, TDS liability, and ensured accurate filing of quarterly returns
- Finalization of tax audit, statutory audits.
- ROC compliances, like filing of annual return.
- Preparing and filing service tax returns.
- Negotiating with tax authorities to ensure the best possible outcome.
- Liaising with clients and preparing monthly reports.
- Maintaining up-to-date knowledge of taxation law changes.
Article Assistant
Sanjay Saraswati & Co
New Delhi
08.2007 - 11.2010
- Income Tax Returns and compliances.
- Calculation of monthly TDS and service tax liability.
- Preparation and filing TDS and Service Tax return.
- Preparing responses against the show-cause notice issued by the department and assisting in preparing appeal submission.
Education
Chartered Accountant -
Institute of Chartered Accountants of India (ICAI)
New Delhi11-2009
B. Com -
Delhi University
New Delhi01.2007
Skills
- Teamwork and Collaboration
- Calm Under Pressure
- Decision-Making
- Analytical and Critical Thinking
Languages
Hindi
First Language
English
Proficient (C2)
C2
Accomplishments
· Lead from tax side Project Arya (divestment of 500 MW solar projects).
· Lead Project Lakeside – Internal restructuring, amalgamation, and capital reduction.
· Lead from tax side Project Chlorophyll (Divestment of 185 MW solar projects)
· Lead from tax side Project Sunrise (Sale of Chempolis Segment of Fortum Oyj)
· Analyzed benefits of new tax regime (section 115BAA of IT Act) for Fortum group of companies
· Analyzed allowbility of brought forward interest as per Section 94B of the IT Act (Limited Interest Deduction)
· Obtained FVCI registration, opened custodian accounts and ensuring completion of FVCI compliances
· Concluded Vendor DD with minimum tax exposure
· Analysed tax implication in India with respect to Fortum foreign entities demerger outside India
Timeline
Head - Taxation
Fortum India Private Limited
10.2018 - Current
Manager – International Tax and Regulatory
KPMG
08.2013 - 10.2018
Tax Executive
T R Chadha & Co
12.2010 - 07.2013
Article Assistant
Sanjay Saraswati & Co
08.2007 - 11.2010
Chartered Accountant -
Institute of Chartered Accountants of India (ICAI)
B. Com -
Delhi University
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