Taxation Law

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.

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.