Taxation

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 Litigation
• Certificate in Advanced Corporate Taxation
• Diploma in Corporate Taxation and Tax Litigation
• Diploma in Taxation Laws
• PG Diploma in Taxation Laws
• Certificate in Accounting and Taxation Laws

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.

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.

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.

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.

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 understand

• Be comfortable with numbers

• Time management; punctuality

• Commercial awareness; dynamic with a situation

• Problem-solving

• Attention to details

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.