Manager Taxation
Celmore Technologies (Pvt) Ltd & Celmore Cable Industries (Pvt) Ltd
Total years of experience :32 years, 1 Months
• All related works as Manager Taxation which includes audit proceedings with FBR, ATIR (Appellate Tribunal Inland Revenue) & High Court.
• Finalized & Submit Annual Income Tax return of Celmore Technologies & Celmore Cable Industries (Pvt) Ltd --- Fibre Wires Manufacturing Unit.
• Submit monthly return of GST, PRA, KEPRA and preparation their working.
• Manage Tax provisions and Tax Compliance process.
• Preparing and maintaining Financial Statements (Statement of Trading Profit and Loss A/c, Statement of Income & Expenditure, Depreciation Schedule, Statement of Inventory Valuation)
• Preparing Withholding Tax Challan and Statements 165(1) of Withholding Tax deduction against of Payment of Good U/s 153(1)(a), Salary U/s 149, Rent U/s 155 and others. E-Filing simultaneously on Monthly basis on behalf of clients from different sectors.
• Preparing Sales Tax Challan and E-filing Sales Tax return on monthly basis on behalf of our clients.
• Preparing and maintaining Financial Statements (Statement of Trading Profit and Loss A/c, Statement of Income & Expenditure, Depreciation Schedule, Statement of Inventory Valuation) on behalf of our clients from different sectors such as Schools, Hospitals, Manufacturer, Money Exchange, Travel Agencies, Trusts, Hotels, Restaurants, Pharmacy, Garments Shop, Petroleum & CNG Stations, Pharmaceutical Firms, Doctors, Salaried Persons and Property Dealers etc.
• Computation of Income and Income Tax. Preparing Manual Income Tax Return and submission as well.
• Also Preparing Statement of Wealth and Wealth Return on behalf of customer.
• E-Filing declaration of Forms 114(1) (Return of Income Tax) and 116(2) (Wealth Return) of our clients.
• Checking all accounts of daily sales at Lobby Shop The Pearl Condominium and Restaurant (Dapur Panas).
• Ensure that all legal, regulatory and business processes are followed and conducted in accordance with agreed timeframes and deadlines, taking action to rectify matters when they are not according.
• Maintenance of Daily Sales Report, Stock available, wages, Salary, daily expenses as well as monthly profit and loss statement. .
• Co-ordination with banks for loan, advance and maintaining bank reconciliation for books of accounts.
• Maintenance of staff records i.e. personal files, leave, visas, medical etc.
• Ensure that all legal, regulatory and business processes are followed and conducted in accordance with agreed timeframes and deadlines, taking action to rectify matters when they are not according.
• Analyze financial and performance against business metrics, compare budgets, cost reports and financial forecasts and produce accurate results to assist managers in managing their resources and making informed operational and strategic decisions.
•Provide accurate financial input, analysis and guidance to managers on projects especially with regard to minimizing or managing the company’s financial exposure and risk.
•Monitor and interpret cash flow analyses and predict future trends.
•Analysis of monthly MIS and presentation to the CEO and quarterly presentations to the Board.
•Liaise with auditors to conduct the company’s annual audit, and facilitate access to information required.
•Ensure that covenants relating to bank facilities are fulfilled.
•Develop financial management mechanisms to minimize financial risk in the business.
•Support department heads in identifying cost reductions and operational improvements.
•Guide finance staff in conducting accounting functions in accordance with relevant financial policies and procedures.
•Develop positive working relationships with key external contacts especially auditors, the Company’s bankers, and regulatory authorities.
•Work on to arrange financing for different projects for the company.
•Implementing corporate decisions by the CEO and the Board related to the legal matters of the Company.
Worked in different branches in Karachi, as operation manager in Allied Bank Ltd, responsibilities are accounts opening, budgetary limits, advances, customer services, evaluations of staff, branch auditing as well as its compliance, deals with controlling office. Also worked as Branch Relationship manager and deals with corporate client like City District Government Karachi, Sui Southern Gas Company, Pakistan Cricket Board and The Aga Khan University Hospital.
• Settlements of inter-bank deals through generating SWIFT messages (MT202, MT199, MT300) and vouchers.
• Settlements of deals dealt by TMU Desk and reconciliation with branches.
• Settlements of deals with NR (Non-Residential) Exchange Companies.
• Settlements of Foreign Exchange Placements.
• Prepare N.O.P. and F.E.E.L
• Prepare FXCRS (SBP Blotter) and reconcile with Front office Position.
• Prepare Statement of Nostro Accounts as per our books and their statements respectively and funds management in Nostro accounts as per requirements.
• Revaluation of NOSTRO Balances, FBN/FBDs, Foreign Exchange Deposits, Outstanding Inter-Bank deals and Outstanding Placements on monthly basis.
Worked as Financial consultant in Textile Nexus (Part time) like supervision of All accounts work like General Ledgers, Expenditures, Cash and Flow, Inventory Control, Budgeting, Opening of L/C, Export procedure, Sales Tax, Income Tax, Wealth Tax. Depreciation, Receivable from Clients, Payables for Raw Material. Corresponding with Buyers, Creditor and Debtor as well.
- Maintenance of Books of Accounts of the group of companies as well as individuals.
- Preparation of Income Tax Return & all statutory returns for the submission to S.E.C.P
- Dealing with the EOBI, S.E.S.S, & Excise & Taxation Department & prepare their Statements
- Maintenance of staff records i.e. personal files, leave, visas, medical etc.
- Co-ordination with banks for loan, advance and maintaining bank reconciliation for books of accounts
- Making Fund flow, Cash flows & feasibility reports for new projects