Taxation
Taxation is a process of tax imposing on citizens who earn taxable income. Tax is the sum of money which an individual also known as taxpayer has to pay to a state or any authorized body. This process involves dealing with direct taxes, assessment of taxes, filing return and providing advice on indirect taxes. Direct tax is the tax which is directly collected from the people e.g. property tax, wealth tax, income tax etc. whereas indirect tax comprises of taxes which are collected from the customers on the purchased goods or the services provided e.g. sales tax, VAT, customs duty, excise duty etc. Taxation is the government’s main source of revenue which is paid by the citizens and is used in financing projects for development projects in various sectors.
Performance and growth of industry in India
Taxation is very lucrative and fast growing career for those candidates who have interest in this field. Today every organisation requires people having expertise in this field such as public sector undertakings and corporate houses etc.
Options and Opportunities
The aspirants having sound knowledge of taxation are appointed as tax accountant, revenue managers, tax analyst, tax recruiter, tax advisor, tax examiners, property tax consultants, business tax consultant, income tax consultant, tax manager and collectors. There are many other job opportunities such as lawyers, tax counsels and defence attorneys. Tax people in Indian Revenue Service hold the top positions. They are aggressive professionals in their field as they have immense responsibilities on them.
Courses Available
- BCom. Taxation
- MCom.Taxation
- Post Graduate Diploma in Taxation
- Diploma in Taxation
- Diploma in Taxation Laws
- Certificate Course in International Taxation
- Certificate Course in International Taxation
Some Good Institution
- Xavier's College Kolkata, West Bengal
- Symbiosis Law School Pune, Maharashtra
- India Law Society Law College Pune, Maharashtra
- A.V. Centenary College Faridabad, Haryana
- Indira Gandhi Government College Kurukshetra, Haryana
- Oxford College of Business Management Bangalore, Karnataka
- Peter's College Ernakulam, Kerala
- Institute of Chartered Accountants of India, Bhawan New Delhi, Delhi
- Sanlok Institute of Management & Information Technology Gurgaon, Haryana
Job Roles –
- Prepare tax returns, payments, necessary paperwork, and reports.
- Assess and research difficult tax issues to identify solutions.
- Manage and maintain the company’s tax database.
- Determine tax savings and recommend strategies to improve profits.
- Ensure you comply with regulations by forwarding required information to federal, state, and local authorities.
- Offer support and guidance during audits.
- Evaluate tax regulations and suggest policies that diminish tax burden.
- Keep track of industry trends and changes related to taxes.
- Prepare accurate quarterly and annual tax reports.