Taxation Law

Taxation Law

Degrees offered: B.Com, B.Voc., Diploma, L.L.M, P.G.D

What is Taxation Law

Taxation Law is one of the major fields of the Indian legal industry. Taxation law is a set of regulations that governs the tax that the citizens are required to pay to the government.


The tax imposed by the Central and State government is submitted by the taxpayers from their income or property.


Due to the daily effect of this area on the people of a country, there is a huge growth in this sector, and the aspirants are increasing day-to-day.


Though the universities and law schools are yet to improve their teachings in this field and give importance to the learning basics in taxation law, it is still highly pursued by the students as an area of specialization.


There are various courses in the taxation law, including diploma, undergraduate and postgraduate levels. It provides students with various career options and high paid jobs.


It is a common myth that to pursue Taxation Law; one must have quantitative and mathematical skills but more than that it only requires an aspirant to have a reasonable level of intellectual capacity, knowledge of tax reforms and current trends in the field.


In addition to that, it is also expected that the aspirant must have expertise in detailing and a problem-solving attitude.

Eligibility Criteria (UG & PG) of Taxation Law

Mentioned below is the minimum eligibility criteria that taxation law aspirant need to meet to get admission to a college of their choice. 

For Undergraduate Taxation Law Course

  • Must have qualified 10+2 examination or an equivalent from a recognized board or university. 

  • The candidate must also score at least 50-60% aggregate in whichever qualifying exam he/she is appearing.

For Postgraduate Taxation Law Course

  • Completion of LLB or an equivalent degree from a recognized university in India is a must for a candidate to be eligible for a postgraduate program.

  • The candidate who has completed a 5-year integrated course in law is also eligible for PG Diploma course or LLM in taxation law. The aspirant must have secured at least 50-60% marks in the qualifying examination.

Taxation Law Entrance Exams

  • CLAT (Common Law Admission Test)- It is a national level entrance test in which all law aspirants must appear to get admitted to various law schools, private or government.

  • AIBE (All India Bar Exam)- This exam is an open book national-level examination conducted by the Bar Council that provides enrollment to fresh law graduates and tests if they are fit to practice law.

  • AILET (All India Law Entrance Test)- AILET is conducted to provide admissions to undergraduate courses in Law, LLM and PHD in three centres of National Law University, Delhi.

  • LSAT (Law School Admission Test) India- It is an admission test designed by the Law School admission Council for Indian Law Colleges. It is based on the World-model of LSAT conducted in America and Australia.

Scope of Taxation Law in India and Abroad

With the growing opportunities in Tax law, there are various options available for the candidates who are skilful and have good knowledge about their subject.


Law students have opportunities such as internships where they can apply their theoretical knowledge and as fresh graduates come out with some considerable experience.


It becomes easy for the candidates who have acquired some practical experience in this field to land on a job they dream of.


Government and private firms are always looking for graduates with highly competitive abilities and expertise. When it comes to salaries, the starting salary in tier 1 law firms is 10-12 lakhs, and in tier 2 firms it is 2-6 lakhs.


In addition to that, the scope also extends to International taxation where students can learn the reforms and trends of the tax system that functions in foreign countries which can help them to acquire skills and knowledge useful in applying for international firms and organizations.

Course Fees Taxation Law

Minimum Fees Maximum Fees
Private Government Private Government
UG
7.45 K
B.Com in Taxation Law at Sree Narayana Mangalam College, Maliankara
---
Data not available
15.30 Lakhs
B.B.A. L.L.B in Taxation Law at School of Law, University of Petroleum and Energy Studies, Dehradun
---
Data not available
PG
9.50 K
P.G.D in Taxation Law at MSS Law College, Jalna
12.00 K
P.G.D in Taxation Law at University College of Law, Osmania University, Hyderabad
4.00 Lakhs
L.L.M in Taxation Law at OP Jindal Global University, Sonipat
67.20 K
L.L.M in Taxation Law at The Tamilnadu Dr Ambedkar Law University, Chennai
DIPLOMA
5.21 K
Diploma in Taxation Law at KCE Societys SS Maniyar Law College, Jalgaon
12.26 K
P.G.D in Taxation Law at Maharaja Sayajirao University of Baroda, Vadodara
2.00 Lakhs
Diploma in Taxation Law at Balaji Law College, Pune
40.00 K
Diploma in Taxation Law at The Institute of Chartered Accountants of India, New Delhi

Course Subjects

  • Business Computing

  • Financial Accounting

  • Corporate laws

  • Business Laws

  • Micro Economics 

  • Cost Accounting

  • Indirect Tax

  • Goods and Services Tax

  • Computerized Accounting System

  • Organizational Behavior

Careers in Taxation Law

Taxation law as a career prospect has been an evergreen area and is emerging daily. There are innumerable opportunities and career choices in the field of taxation law.


In the last few years, there has been a growth in the number of candidates appearing for the specialization and postgraduate programs in this sector.


As a result of that, there are various government and private recruiters that are hiring tax law graduates and the number of job profiles has largely increased giving out handsome salaries to the candidates.


Therefore, if you are looking for a career in tax, you are choosing a secure job and great prospects. 

Job Profiles and Top Recruiters

Tax litigation and tax advisory jobs include working as a tax attorney for consulting firms, government sector, in- house member for-profit or non-profit organizations. Some of the job profiles are listed below: -

Job Profile

Description

Tax Attorney

A tax attorney works as an advisor to the companies and individuals regarding tax law areas and financial management.

They keep an eye on the legal aspects in the tax area and interact with clients regarding the changes to be made in their businesses and personal finance according to the legislation.

Tax Collector

A tax collector must collect money from individuals and businesses that are late in filing returns and owe to the government.

They mostly conduct auditing and keep a check on financial data, and keep records regarding the same. They are also responsible for conducting background checks of the people who are late payers and provide them with solutions. They work at central, state and local levels.

Tax Associate

The job of the tax associate varies according to the firm or company where he/she is posted. They are responsible for preparing tax returns of businesses and properties and any other area depending on the firm requirements. 

They verify bills in the tax area, tracking assessment, income tax compliance etc. 

Chief Financial Officer

 A chief Financial Officer manages the financial actions of corporations. The CFOs are responsible to track cash flow and to help in planning finances.

They also advise on strategies that can be adopted by companies concerning their strengths and weaknesses.

Tax Analyst

Tax Analysts are found in various industries such as transportations, manufacturing, banking, IT, or telecommunications.

They ensure that the company or organization pays their taxes after analyzing their finances and following the central and state tax obligations and laws.  

They make sure that the returns are filed timely.

Financial Advisors

A Financial Advisor is a professional who advises and consults the individuals and businesses about their financial strengths and weaknesses.

They are responsible for companies and individuals to reach their financial goals by providing them with easy solutions and strategies to acquire more wealth by taking advantage of credits and eliminating extra costs.

Lecturer

Teaching tax law in various government and private law schools.

 

Taxation Law Top Recruiters


Following are the top law recruiters in India who have been in the business for a long time and deal in various legal fields including taxation law: -

  • Amarchand & Mangaldas

  • DSK Legal

  • Anand & Anand

  • Phoenix Legal

  • AZB & Partners

  • Khaitan & CO

  • Luthra & Luthra Law Offices

  • Desai & Diwanji

  • Platinum Partners

Required Skillset for Taxation Law

It is a mandatory aspect that the candidate must acquire a particular set of skills regarding the career or job he/she is looking for. Every company or organization looks for candidates that are experts in their field and who can become an asset or the company. Some skills that are expected from a candidate pursuing taxation law are mentioned below: -


  • Excellent numerical and accounting skills.

  • Communication skills- oral and written

  • Analytical and critical thinking skills.

  • Eagerness to learn and improve upon the shortcomings.

  • Good listening skills

  • Client handling

  • Good knowledge of recent tax reforms and experience in drafting and briefing.

Course Curriculum for Taxation Law

The curriculum of taxation law results in providing students with stability in their career. As there is a high demand for tax lawyers and advisors and because it’s an evergreen area of practice; therefore, the job security in this field is higher than many of the other fields. Apart from that, there are rarely any poor tax officials.


Most jobs in this field are highly paid. There are also different kinds of specializations available in the field of taxation law, and hence there is a variety of job options available for the candidates to choose from.

Questions related to Taxation Law

Showing 4 out of 4 Questions
29 Views

after completion of BE-CIVIL ,I am taking admission in LLB .So particularly which course of LLB should i prefer. (for eg. should i prefer BA LLB /Diploma in labour law and welfare /LLB/diploma in taxation law etc.)

Shakti Swarupa Bhanja 26th Nov, 2020

Hello Yogesh!

You have already completed BE Civil Engineering, so go for LLB directly. LLB is a three year course and is more preferable other than the diploma courses, as you would grab more internship opportunities in law firms and get self employed easily. You do not need to go for BA LLB as it is an integrated course and is of five year duration.

I would suggest you to go for LLB in Construction Law. Because it would be the most suitable course according to your civil engineering background. I suggested this specialization because most of the construction companies and real estate firms have civil cases nowadays. They have many disputed lands issues and many other issues also.

Get a list of LLB colleges in India:-

https://law.careers360.com/colleges/list-of-law-colleges-in-india

Hope this helps!

10 Views

I want to do diploma in taxation law from distance which Institutions i should opt for future job refrence??

Manidipa Kundu Student Expert 30th Oct, 2020

hi,

see while you are concerned about job , it would be best to do the course from the Institute where there is excellent placement. however in case of distance learning university or Institute there is less of placement for students. the name of  diploma in taxation law distance education colleges is as follows,

The Institute of Professional Accountants

Symbiosis center for distance learning

Bharati Vidyapeeth School of distance education (Pune)

Annamalai University (Tamil Nadu)

19 Views

I AM B. COM FINAL YEAR GRADUATE .CAN I APPLY A DIPLOMA IN TAXATION LAW

Ameya Narendra Parkar 16th Dec, 2019
Dear Sneha,
I would like to explain you the eligibility criteria for diploma course in taxation law.
The duration of the course is 1 year
The common eligibility criterion for a Diploma in Taxation Law is 10+2 pass out.
Also some colleges might keep the entrance examination which you need to pass.
After satisfying such conditions you'll be eligible for diploma in taxation law.

I hope this information helps you

All the best
34 Views

After completing my LLB can I pursue a diploma in taxation law and labour law or any other diploma simultaneously.

Shivam bhardwaj Student Expert 12th Nov, 2019
Hello Prasad,
Hope you are doing well.
Diploma in Taxation Law (DTL) is a 1-year graduate degree program, the minimum eligibility is the 10+2 from a recognized school board or its equivalent exam.

Interested candidates can get admission in Diploma in Taxation Law (DTL) on the premise of candidates performance in a relevant entrance exam, and ensuing round of counseling.
Good luck
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