Application Process: 10 Nov, 2020 - 04 Jun, 2021
Exam Date: 25 Mar, 2021
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.
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.
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.
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.
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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.
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.
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
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.
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.
Application Process: 01 Jan, 2021 - 10 Jun, 2021
Exam Date: 15 Feb, 2021 - 20 Jun, 2021
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.
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!
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)
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