Degrees offered: B.Com, B.Com(Hons), Diploma, L.L.M, M.A., 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.
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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.
Popular Online Law Courses and Certifications
Course Fees Taxation Law
|Minimum Fees||Maximum Fees|
Goods and Services Tax
Computerized Accounting System
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.
This is not an unknown fact anymore that almost in every professional field there has been a gradual shift in the trends of work due to the introduction of new technologies. That being said, taxation law is also not untouched by that. The following are the trends that it looks forward to:-
Accounting systems for digital handling of invoices
Online portals for tax returns
Efficient movement of data and processes
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: -
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.
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.
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 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.
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.
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
Anand & Anand
AZB & Partners
Khaitan & CO
Luthra & Luthra Law Offices
Desai & Diwanji
Different sectors, organizations and firms provide different packages of salary to a candidate. It’s important to know the market standards before applying to a job. A basic idea of the salaries of some of the job profiles is listed below: -
Rs. 10-15 lakhs p.a. (Approx.)
Rs. 6-8 lakhs p.a. (Approx.)
Rs. 3-6 lakhs p.a. (Approx.)
Chief Financial Officer
Rs. 15-20 lakhs p.a. (Approx.)
Rs. 3- 5 lakhs p.a. (Approx.)
Rs. 4-6 lakhs p.a. (Approx.)
Rs. 5-7 lakhs p.a. (Approx.)
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
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.
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Popular Taxation Law Entrance Exams in India
Exam Date: 03 Dec, 2023
Exam Date: 03 Dec, 2023
Exam Date: 08 Jun, 2023 - 11 Jun, 2023
Exam Date: 04 Jun, 2023
Application Process: 08 Jun, 2023
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Frequently Asked Questions (FAQs)
Question: What kind of soft and technical skills are required in the field of taxation law?
Various skills are expected from a candidate who is applying for a job in the field of taxation law.
As the competition is pretty tough and the people working in this field are experts in their areas, some of the skills that are required from a fresher include representing clients in criminal, civil litigation and other legal proceedings, draft legal documents, manage and advise clients on legal transactions, numerical skills, awareness regarding tax reforms, good communication, English proficiency, teamwork, organized behaviour and problem-solving attitude.
Question: What kind of firms hires a tax Associate?
A tax Associate has more than one option when it comes to firms and organizations. Accounting firms, government sectors, in house attorneys and tax advisory firms are some of the examples that hire a Tax Associate.
Question: What are some of the highest paying careers or job profiles in the field of taxation law?
There are various job profiles in the field of taxation law which provide job security and a handsome salary. Some of them include Tax Attorney, Income Tax Consultants, Tax Accountants, Property Tax Consultants, Tax recruiters, Tax Advisors, Business tax Consultants, and Chief Financial Officers. All of these jobs are high paying and there is a large scope if you are consistent with building your experience in any one of them.
Question: Is there a diploma course in taxation law? What are the subjects of the course?
In taxation law, Diploma course is for a term of one year. It includes Accounting and commerce specialization which focuses on imparting both theoretical and practical knowledge in auditing, financial accounting, direct and indirect taxes.
This course is suitable for people who want to have their career in Advisory and Consultancy firms, and who want to work as Chartered Accountants and Company Secretaries. It is also beneficial for people who want to pursue their career in teaching or as a lecturer in different law schools or a teacher in accounting and commerce subjects.
It is a career-oriented program and is available as a full-time course as well as correspondence. The subjects taught in this course include Managerial Accounting, Direct Tax (Application and Procedure), Goods and Services Tax I, Goods and Services Tax II, Income Tax Act, 1961, Financial Accounting & Analysis, Organization & Management, Assignments and Dissertations.
Question: What are the key roles and responsibilities of a tax consultant?
The key roles and responsibilities of a Tax Consultant include making good financial decisions about tax issues. They work with clients to help them manage their tax liability by collecting information on their financial strategies and situations.
They make sure that the clients must follow the legal and tax-related obligations by providing them with easy solutions about their finance.
Because tax consultants work personally with the public and clients, hence they need to have strong communication skills, good negotiation and persuasion skills, excellent interpersonal abilities, problem-solving attitude and patience.
They must be good listeners too so that they can provide the best solutions to their clients and can easily understand their financial issues and consult them for the best kind of strategy.
Questions related to Taxation Law
I have completed my MBA in finance but now i want to do taxation law so what should i now
For Postgraduate Taxation Law Course
Fulfillment of LLB or a comparable degree from a perceived college in India is an unquestionable necessity for a contender to be qualified for a postgraduate program.
The competitor who has finished a 5-year coordinated course in regulation is likewise qualified for PG Diploma course or LLM in tax collection regulation.
i am b.com graduate . and i want to do llb in taxation law it is poosible now if yes so what is procedure for doing it
It is possible to do LLB after graduation. To do so you have to give LLB entrance exam for 3 year LLB course. The premier college for 3 year law is Campus Law Center of Delhi University. Alongside you can do diploma in taxation laws as well. However, you will be taught commercial and taxation laws in your curriculum.
I am 34 year old. I have done M. Come; Diploma in Taxation law; Govt. Diploma in co-operative Accountancy. Can I get Govt. job
Different government jobs have different age limits ranging from 18 to 40 years for general category, however reserved castes (SC, ST) and ex-servicemen can avail additional 5 years age relaxation while OBC candidates can avail 3 years.
Now, coming back to your question... Yes, you can get a few government jobs after 34 years of age.
Some of the opportunities you may try out are:
- Rajasthan Subordinate and Ministerial Services Selection Board (RSMSSB) Rajasthan Lab Technician/Radiographer
- UKSSSC JE Recruitment
- IBPS Associate Professor Recruitment
- UPRVUNL TG2 Recruitment
- RUHS Medical Officer
Hope this was helpful.
Diploma in taxation law course
Diploma in Taxation Law is a professional course with finance and accounting topics. It is a 1-year diploma level course. Diploma in Taxation is a one-year program in accounting and commerce which includes both the theoretical and practical knowledge of direct and indirect taxes financial accounting and auditing. And there are institutes in India that provide taxation law course in India. For more information, please go through the link given below-
Hope, this answer helps you.
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.)
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:-
Hope this helps!