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Tax consultants refer to skilled professionals with specialized knowledge and expertise in tax-related laws. They also offer professional guidance and counseling to clients on all financial matters. They play a critical role in India’s financial landscape, enabling clients to plan strategically and make informed financial decisions. This explains the growing tax consultant scope in India, particularly in the wake of complex tax regulations. They are also demanded by businesses and individuals alike for the professional tax advice they offer.
We touched upon the need for a Tax Consultant in India. Let us now elaborate on who they are and how they help individuals and businesses in carrying out their operations smoothly.
Some of the primary responsibilities of tax consultants include:
We learned who a tax consultant is in the earlier section. Let us now detail some of the key responsibilities of tax consultants in India. These include, among many others:
If you feel inclined toward this highly responsible and reputed profession, here’s a step-by-step guide on what it takes to become a tax consultant in India:
Possessing the required professional skills is essential for the desired career growth in tax consultancy domains. Some of the core skills that can help you progress on your career trajectory are:
If you’re aspiring for career growth in tax consultancy, it is essential to specialize in a specific area of the domain. This would help you gain the necessary expertise and advanced knowledge base to succeed. Some of the areas where you can specialize as a Tax Consultant include:
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Continuing with the discussion on the Tax Consultant’s scope in India, let us now highlight the key job roles that they are eligible for:
To summarize, after graduating with a BCom or MCom course, you can start your career in public accounting work. You can then slowly work your way up to national or international clients, with higher work experience and upskilling. You have the potential to work as a senior tax advisor or start your independent consultancy practice.
The average annual salary of a Tax Consultant in India is approximately INR 6,67,500 per annum. This is only for indicative purposes and is subject to variation based on various factors.
We learned that Tax Consultants play a crucial role in the working of any individual or organizational business entity. This is why they enjoy a high demand in the industry and also attractive pay packages. If you’re keen on pursuing this career path, start by deepening your knowledge in the areas of finance and accounting.
Manipal University Jaipur (MUJ) offers online BCom/MCom degree programs to lay the perfect foundation for a career in Tax Consultancy. The online B.Com degree by MUJ is designed to offer competency in the field of commerce. Students learn the fundamentals of accounting, economic policies, and other areas affecting business and trade. After completing this course, you can move on to pursuing an online MCom from MUJ. The two-year postgraduate degree develops a thorough understanding of corporate tax laws and planning, enabling you to pursue related job roles. These include the domains of personal finance advisory, auditing and risk management, and taxation.
Tax Consultants serve an important role in helping individuals and businesses navigate through the complexities of the Indian tax system. If you’re interested in finance and taxation, consider this rewarding career path. Start with signing up for an online BCom or MCom degree from Manipal University Jaipur. The university offers these undergraduate and postgraduate programs on the Online Manpal platform. It enjoys NAAC accreditation and the UGC entitles all its online courses. Take the first step to a lucrative career in Tax Consultancy with Online Manipal.
Information related to companies and external organizations is based on secondary research or the opinion of individual authors and must not be interpreted as the official information shared by the concerned organization.
Additionally, information like fee, eligibility, scholarships, finance options etc. on offerings and programs listed on Online Manipal may change as per the discretion of respective universities so please refer to the respective program page for latest information. Any information provided in blogs is not binding and cannot be taken as final.
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