As a tax manager/advisor, you will organize and maintain records of tax payments and will create, enforce and oversee a tax plan for a business or on behalf of an individual client.
Tax Managers are responsible for preparing and filing central and state tax documents of the company. They find and tackle tax risks and offer professional help to clients and businesses on tax matters. They oversee the the company’s tax functioning and do research and develop tax accounting strategies.
Reviewing filed tax returns to find out if the claimed credits and deductions are legal
Verification of information regarding income tax returns through conduction of field audits and investigations
Updating any tax liabilities
Contacting taxpayers to inform about problems and to request the submission of required documents
Evaluating financial information in accordance with the changes to tax laws and regulations
Recording each actions taken, and the case details
Notifying about any overpayment or underpayment to the taxpayers
Candidates who have chosen any stream at the plus two level would be eligible for higher studies in this field, but opting for a commerce stream would be recommended as it will help build a stronger base in the fundamentals of the field.
B.Com/BA Economics/BSc Statistics/ BBA are 3 year graduation programs and LLB is a 5 year integrated degree course.
After completing a UG degree in any of the mentioned fields, you can either go for tax specific graduate programs like masters in taxation or various certificate courses for taxation. A tax law specialisation is available in LLM as well.
Requirements for admission into a PG course in one of the top institutions to help you get an overall picture
To see the entrance exams, scholarships and UG admission details,click here
A person working in the taxation field will have to explain complicated rules and regulations in a way that non-specialists can also understand. Good written and verbal communication skills are an absolute must.
Taxation professionals should possess good numerical skills in order to succeed in their field as it involves working with a lot of numerical data.
Taxation professionals must be able to prioritize tasks, meet deadlines and take personal responsibility for their work.
According to the changing laws and regulations and the requirement of situations, taxation professionals must be able to adapt and handle issues quickly.
An essential skill required in this field is to be able to analyse situations and reports and it is needed to provide solutions to complex problems.
In tax law, it necessary to understand and interpret the regulations exactly as it is, which means paying attention to every word is very important.
Being organized is an important skill to be possessed by a tax specialist as they have to evaluate personnel files, reports, budgets etc. on a daily basis.
Public Sector
Private Tax Consultancies
E-commerce
Consultancy
Financial Institutions
NGOs
Ernst & Young
PricewaterhouseCoopers (PwC)
KPMG
Deloitte
H&R Block
Jackson Hewitt
