Taxation
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3 months ago
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Pragati Singh
Contributor-Level 10
There are various organizations that offer good packages to Tax law graduates, and it also depends on the skills of a candidate. The starting salary package for Tax law graduates can be anywhere between INR 4 Lakh to INR 7.5 Lakh.The starting compensation package for taxation law in India varies according to a variety of criteria, including the candidate's experience, qualifications, and work location. The typical beginning income for a taxation lawyer in India, according to PayScale, is roughly 7.0 lakhs per year.
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3 months ago
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Pragati Singh
Contributor-Level 10
There are some short-term courses in law that candidates can pursue alongside their graduation in taxation law or regular law degree. These are: Diploma in Advanced Corporate Taxation and Tax LitigationCertificate in Advanced Corporate TaxationDiploma in Corporate Taxation and Tax LitigationDiploma in Taxation LawsPG Diploma in Taxation LawsCertificate in Accounting and Taxation Laws
New answer posted
3 months ago
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Pragati Singh
Contributor-Level 10
To become a Taxation Lawyer, one has to complete graduation or postgraduation in Tax Law specialization. After this, they need to clear AIBE, the qualifying profession exam for lawyers' Certificate of Practice. After gaining some experience, you can begin looking for taxation law positions.Taxation law positions can be found in a variety of settings, including legal firms, corporations, and government bodies. Taxation law jobs can also be found on job boards and through your network.
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3 months ago
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Pragati Singh
Contributor-Level 10
A Taxation Lawyer provides legal guidance to the government or individuals. They also study, draft and amend the taxation laws in India. Many times, they also defend taxpayers for tax evasion or fraud in a court of law. Taxation lawyers assist their clients in developing tax solutions to reduce their tax liability.This could include counseling customers on how to structure their company transactions, how to select the appropriate tax entity, and how to maximize tax deductions and credits.
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3 months ago
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Parul Thapa
Contributor-Level 10
The acronym TDS represents Tax Deducted at Source. It is a system whereby the payer deducts tax at the time that certain payments, like rent, interest, commission, and salary, are made. On behalf of the payment's recipient, the withheld tax is subsequently deposited with the government. TDS assists with tax collection all year long and guarantees a consistent stream of income for the government.
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3 months ago
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Parul Thapa
Contributor-Level 10
An income tax officer's duties include:Ensuring that people and corporations abide by tax laws and regulations is known as tax compliance.Tax assessment: Examining tax returns to ascertain whether income claims and taxes paid are accurate.Investigations: Looking for signs of fraud or tax evasion through audits and investigations.Enforcement: Taking legal action and imposing fines on those who escape paying taxes.Taxpayer help is the provision of support and direction to taxpayers regarding matters about taxes.
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3 months ago
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Parul Thapa
Contributor-Level 10
The main subjects in Income Tax courses are:Basic of Income Tax, Major Head of Income, Tax Forms, New & Old Tax SchemeConcept of Business Income, Calculation of Income from Business & ProfessionDepreciation under the Income Tax, Important Rate & Calculation of DepreciationCalculation of Allowed Expenses under the IT Act, Import Section of the ActBooks of Account &, Documents & Maintenance of Books of AccountsAudit of Books of Account under the IT act & Exemption from the AuditBenefit & Disadvantage of Presumptive Taxation under the Income TaxTax Deducted at Source (TDS) Basic, TDS Rate and TDS ProvisionsTax Deducted at Source (TDS) Due
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Parul Thapa
Contributor-Level 10
Candidates aspiring to pursue the course must possess the desired taxation skills to enhance further skills desirable for career growth. Check the list of taxation skills that a candidate must have before enrolling for the course:Ability to explain complex regulations in a way a common man can understandBe comfortable with numbersTime management; punctualityCommercial awareness; dynamic with a situationProblem-solvingAttention to details
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4 months ago
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Parul Thapa
Contributor-Level 10
Yes, a BCom student can become an Income Tax Officer. After completing their BCom degree, students are eligible to appear for the Staff Selection Commission Combined Graduate Level (SSC CGL) exam, which is the primary route to becoming an Income Tax Officer in India. The exam consists of multiple tiers, including objective tests, descriptive papers, and sometimes skill tests, all designed to assess a candidate's knowledge, reasoning, and aptitude. With dedicated preparation, especially in areas like general knowledge, quantitative aptitude, and English, a BCom graduate can successfully clear the SSC CGL exam and embark on a career
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Parul Thapa
Contributor-Level 10
A Diploma in Taxation is a specialised course designed to provide students with a comprehensive understanding of tax laws, regulations, and procedures. A Diploma in Taxation typically covers various aspects of taxation, including income tax, goods and services tax (GST), corporate tax, and tax planning. Diploma in Taxation is aimed at equipping students with practical knowledge and skills required to manage tax-related matters for individuals and businesses.This Diploma is suitable for graduates, professionals, or anyone interested in gaining expertise in taxation.
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