What are taxation courses?

Taxation courses impart fundamental knowledge of the major conceptual, research and technical issues in the taxation arena. Skills in finance, accounting and economics with special emphasis given to taxation are gained through these courses offered at undergraduate and postgraduate levels.

A variety of areas like property tax, value added tax, service tax and income tax among others, are delved into during taxation courses. Students also get exposed to indirect taxes such as wealth tax, central excise tax, etc.

Knowledge of tax procedures and law can go a long way not only to help you navigate through your taxes with ease but also to help you be gainfully employed in a variety of fields. Upon completion of taxation courses, students become capable to perform well in banks, financial institutions, and accounting and marketing jobs, among others.

Job Prospects at UG Level

A person who has completed Bachelor’s level Taxation courses can opt for a career in fields, including Finance Management, Financial Accounting, Auditing, Banking, Investment Management, Public Relation, Business Administration, Inventory Control and Policy Planning.

Also, those who have completed their B Com in taxation are well-suited to be audit assistants, finance executives, accounts assistant and much more. One can apply for the post of tax assistant in both the private and government sectors. Also, various government departments such as Department of Excise and Taxation, and Income tax department of India, among others, remain in need of graduates from taxation courses.

Further, one can find employment in areas, such as marketing, working capital management, inventory control, banks, business consultancies, budget planning, investment banking, policy planning, treasury and Forex department, etc.

Moreover, pass outs of Bachelor’s level Taxation courses can serve as a cost estimator, tax assistant, actuary, chief financial officer, cost estimator, entrepreneurship, certified public accountant, budget analyst, financial analyst, investment analyst, business consultant, human resource manager, chartered management accountant, lecturer, personal financial advisor and marketing manager.

Job Prospects at PG Level

A postgraduate in taxation courses can be employed in various sectors, including rural management, banking, investment management, public relation, business administration, retail management, finance management, marketing management, taxation, etc.

After completing postgraduate taxation courses, one can apply for various posts, such as financial analyst, money manager, personal finance consultant, market analyst, investment analyst, senior accountant, operation manager, investment banker, marketing manager, securities analyst, etc.

Skill Sets Required

You need to either have the following attributes before enrolling into or be ready to acquire the same while pursuing undergraduate and postgraduate taxation courses:

Systems Analytical Skills: A basic understanding of systems analysis is required.

Mathematical Skills: Knowledge and aptitude for geometry, arithmetic, calculus, algebra and statistics.

Procedural Knowledge: A candidate aspiring to opt for a Taxation Course should possess knowledge of clerical and administrative procedures will help.

Strong Fundamentals: A candidate must have a strong economics and accounting base.

Creativity: Ability to think out of the box will help in this line.

Problem-solving skills: The capacity to figure out solutions to complex problems will make one more efficient while dealing with tax related matters.

Strong interpersonal skills: People planning to do Taxation Course should have great communication skills, which will help them to go a long way in meeting with clients and other key financial players are integral.

Good work ethics: This will give you an edge over when it comes to killing competition.

Analytical mindset: It is required to identify patterns, analyse data and draw conclusions.

 

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Taxation at UG Level: Eligibility, Admission Process, Course Fee and Entrance Exams

Eligibility Criteria:

  1. A candidate must have passed the qualifying examination (10+2) from any recognised board in India.
  2. A candidate must have studied and passed in at least one of the following subjects in the qualifying examination: Business Studies, Accountancy, Mathematics or Economics. A few reputable colleges offering taxation courses require a minimum of 50 percent marks in the qualifying examination.

 Admission Process:

Though admission process varies from college to college, however, many educational institutions offering taxation courses consider students in the grade 12 merit list. Also, some colleges offering these courses conduct entrance exams for enrolling students.

Delivery Type, Duration and Fee Structure: 

 

Course/Delivery Type

Fee Structure

Duration

B Com (Full-time)

INR 6,000-6 Lacs per annum

3 Years

B Com (Part-time)

INR 4,000-12,000 per annum

3 years

 

Taxation at PG Level: Eligibility, Admission Process, Course Fee and Entrance Exams

Eligibility Criteria:

A candidate is eligible for pursuing M Com in Taxation/ Finance and Taxation/ Accounting and Taxation, if s/he possesses a graduation degree in commerce. In addition, some of the reputable Indian universities and colleges offering taxation courses demand a minimum of 45-50 percent marks in graduation for securing admission into M Com courses.

Admission Process:

Most of the colleges offering taxation courses consider aggregate marks obtained by a candidate at the undergraduate level. However, few universities and colleges conduct entrance tests also. Moreover, the scores obtained in entrance exams are considered along with marks secured at the Bachelor’s level program.

Delivery Type, Duration and Fee Structure:

Course/Delivery Type

Fee Structure

Duration

M Com (Full-time)

INR 3,000-88,000 per annum

2 years

M Com (Part-time)

INR 7,000 per annum

2 years

 

Specialization at UG Level

Introduction to Finance and Accounting Course: Students planning to acquire a degree in Taxation Course can specialise in this course, as this course would give them basic knowledge about accounting practices to individuals and businesses. The course teaches business transaction tracking, financial statement analysis and revenue recognition. Moreover, issues such as business transaction tracking, financial statement analysis and revenue recognition are covered.

Principles of Taxation Course: The course aids students in preparing for the CPA exam as well as the enrolled agent (EA) certificate exam. However, before taking this course, students are suggested to master basic principles of accounting. Topics such as types of property transactions and partnership issues, incorporation and corporation liquidation are covered in this course.

Tax Preparation Software Course: Students who aspire to become tax specialists are encouraged to take up this Taxation Course, which will impart them with necessary skills to use commercial tax preparation software, such as TurboTax. The course teaches electronic tax return process, including current software patches and updates the aspiring tax specialists.

Business Income Tax Preparation Course: This Taxation Course makes students skilled in preparing needs of small businesses and large corporations. Students are taught about current tax changes and reforms. In addition, the course may offer specialized instructions in the effects of current taxation legislation on business payroll practices.

Individual Income Tax Preparation Course: People aspiring to become tax specialists are trained to prepare basic income tax for individual clients and work out on complicated taxation scenarios.

Tax Practice and Procedure Course:  This Taxation Course teaches students about the administrative details such as properly filing tax paperwork for both individuals and businesses. Topics like regulatory agencies, tax appeals, penalties and responsibilities, assessment and litigation are covered in this course.

Corporate Tax Course: This course imparts students with knowledge of incorporation, corporate operations, liquidation, proprietorships and S-corporations, financing and capital structuring, dividends and accumulated earnings taxes. 

Specialization at PG Level

Business tax: This area of specialisation offered under taxation courses includes the study of all tax issues businesspersons grapple with on a day-to-day basis.

Income tax: This involves the study of income tax and related issues faced by individuals and corporate houses among others.

Property tax: This area of specialisation offered under taxation courses imparts expertise in property tax rules and regulations to handle cases related to agricultural land, residential and commercial properties, etc.

Sales tax: This area of specialisation makes students proficient in dealing with VAT and sales tax related issues.

Some of the other areas of specialisation offered under postgraduate taxation courses include:

Revenue

Rules and Regulations

Property

Tracking and Filing Financial Reports

Types of forms
 

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