Career Options in Tax

Taxation is a process of enforcing financial charge (tax) on the citizens who earn ‘taxable’ income. Tax is levied upon the tax payers by the State Government, Central Government, or any authority of a state, such as the Local Council or the Municipality. Tax collection is a significant role of the government, because the tax paid by the people forms its vital source of income. Funds collected through tax in financing projects for developing the infrastructure and other development projects of the nation. All the tax collection in India is backed by laws formed by the legislature. In India tax regulation and collection is handled by the Ministry of Finance under the Government of India.

The Profession Career Option in Tax

The 'tax profession' includes all the qualified individuals who offer advice to a client on tax compulsions.This tax advice can shape up into legal analysis and formal advice. It needs to be further performed or assisted with compliance obligations or designing and reviewing the system used by the client to accomplish tax risk. The tax profession has been majorly comprised of lawyers and accountants functioning in the tax field. But, in the present times the Government has set up the Tax Agent Services Regime under which Tax Practitioners can be known as a 'tax agent'. This certification is backed by standards of entry and a code of conduct. It has seized the professional distinctiveness of tax advisors. This identity is based on respect and understanding of the exceptional and dedicated work executed by tax professionals and the vital role tax practitioners play in the trades and individuals whose tax affairs they advise on. Tax experts enjoy intricate problem solving and technical calculations, tackling strategic planning issues, developing information management systems, applying changing legislation and leading teams to develop creative ways to solve the problems of a client.

Course Details Career Option in Tax

Many universities and colleges in India conduct courses in the field of taxation. These courses are conducted both at diploma as well as certificate levels. To start with a graduate has to have a 10+2 certificate or should have passed the Higher Secondary Certificate Examination to begin with the bachelor’s course in taxation. After one has completed the bachelor’s degree in a relevant stream one can go for the master’s degree in taxation. There are many colleges which provide education in the field of taxation. Some of them are Nagpur College of Taxation, Annamalai University, Institute of Chartered Accountants of India andIndian Institute of Taxation. Apart from this taxation is a prominent subject in many commerce colleges.

Career Prospects Career Option in Tax

Public sector undertakings are always in demand of well-organized professionals who can provide good performance in the field of taxation. The aspirants can become a part of any related organization such as Employment Tax Specialists, Tax Accountant, State Local Tax Attorney specialists, Tax Recruiter,tax advisor, Tax Policy Analyst, Tax Examiners, Tax Manager, Collectors, Revenue Agents etc.

Remuneration Career Option in Tax

Remuneration in the field of taxation varies from organization to organization.Beginners can earn a salary of Rs 200000-Rs500000 per annum. This increases with depth of knowledge and experience.

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