Taxation

As a tax manager/advisor, you will organize and maintain records of tax payments and will create, enforce and oversee a tax plan for a business or on behalf of an individual client.

What do they do?

Tax Managers are responsible for preparing and filing central and state tax documents of the company. They find and tackle tax risks and offer professional help to clients and businesses on tax matters. They oversee the the company’s tax functioning and do research and develop tax accounting strategies.

What does a typical day at work involve?

  • Checked Reviewing filed tax returns to find out if the claimed credits and deductions are legal
  • Checked Verification of information regarding income tax returns through conduction of field audits and investigations
  • Checked Updating any tax liabilities
  • Checked Contacting taxpayers to inform about problems and to request the submission of required documents
  • Checked Evaluating financial information in accordance with the changes to tax laws and regulations
  • Checked Recording each actions taken, and the case details
  • Checked Notifying about any overpayment or underpayment to the taxpayers

How to become a professional in the taxation field?

Step 1
Take any stream in 10+ 2

Candidates who have chosen any stream at the plus two level would be eligible for higher studies in this field, but opting for a commerce stream would be recommended as it will help build a stronger base in the fundamentals of the field.

Step 2
Take B.Com/ BA Economics/BSc Statistics/ BBA/LLB at the UG level

B.Com/BA Economics/BSc Statistics/ BBA are 3 year graduation programs and LLB is a 5 year integrated degree course.

Step 3
Take M.Com taxation, Masters in taxation /LLM in tax law/Specialisation Certificates

After completing a UG degree in any of the mentioned fields, you can either go for tax specific graduate programs like masters in taxation or various certificate courses for taxation. A tax law specialisation is available in LLM as well.

Taxation Colleges

Name State District Type Website Course

Requirements for masters in taxation

Requirements for admission into a PG course in one of the top institutions to help you get an overall picture

India (For LLM (Tax Law) from Amity University, Noida)

  • LL. B or an equivalent degree with a minimum mark of 50%.
  • Based on the performance in a written test.

Foreign (For MSc in Taxation (Research Based) from University of Birmingham)

  • A bachelor’s degree related to the field or professional qualification.
  • Membership of a tax, legal or accounting professional body of equivalent status to organisations such as the Chartered Institute of Taxation, Law Society, ACCA, CIMA, CIPFA, ICAS, ICAI, ICAEW etc.
  • Practical post qualification experience (a minimum of 3 years would be normally expected).
  • English requirement - IELTS 7 with no less than 6.5 in any band or equivalent.
  • A personal statement.
  • One or two references.

To see the entrance exams, scholarships and UG admission details, click here

Skills Required

Communication

A person working in the taxation field will have to explain complicated rules and regulations in a way that non-specialists can also understand. Good written and verbal communication skills are an absolute must.

Numerical skills

Taxation professionals should possess good numerical skills in order to succeed in their field as it involves working with a lot of numerical data.

Time management

Taxation professionals must be able to prioritize tasks, meet deadlines and take personal responsibility for their work.

Adaptability to change

According to the changing laws and regulations and the requirement of situations, taxation professionals must be able to adapt and handle issues quickly.

Problem solving and analytical skills

An essential skill required in this field is to be able to analyse situations and reports and it is needed to provide solutions to complex problems.

Attention to detail

In tax law, it necessary to understand and interpret the regulations exactly as it is, which means paying attention to every word is very important.

Organization

Being organized is an important skill to be possessed by a tax specialist as they have to evaluate personnel files, reports, budgets etc. on a daily basis.

Industries

  • Checked Public Sector
  • Checked Private Tax Consultancies
  • Checked E-commerce
  • Checked Consultancy
  • Checked Financial Institutions
  • Checked NGOs

Top Companies

  • Checked Ernst & Young
  • Checked
  • Checked KPMG
  • Checked Deloitte
  • Checked H&R Block
  • Checked Jackson Hewitt