We all dream of a stable and lucrative career. Likewise, we trace the direction based on our career choices and ambitions. Amongst many, a career in Taxation is one amongst the most sought after fields in India and abroad. Probably because it’s considered a perennial and stable career option. A career in taxation ranks as one of the booming career choices in India after medicine and engineering. So needless to explain that the study of taxation attracts immense job opportunities in various sectors both in private and the public.
So, the educated lot understands that there is always a growing demand for efficient professionals in the field of Taxation. Similarly, the majority are well conscious of the intricacies of tax structures. They are categorized in, either way, one is direct taxes, and the other is indirect taxes. The duo entails diverse sources. The direct tax is collected directly from the public include wealth tax, property tax, income tax, etc.
Contrarily, the indirect tax is the one included in your expenditure. For instance, whenever you buy certain services and goods your tax is calculated alongside the amount you pay. Indirect taxes may incorporate VAT (value-added tax) sales tax, excise duty, customs, and so on. Therefore, organizations often look for professionals who can help them analyze paying taxes, filing the tax returns, and discover strategies to legally save their tax fee. Therefore, obtaining a degree in taxation would be of greater advantage. As it helps anyone willing to give an early start to stable a career, either in a private or a public sector.
So, based on your interest, educational background, and as well your past work experience (this is optional) you can find jobs in different sectors. From the banking sector to financial organizations, corporate firms to colleges, entertainment to media, there’s no business in the world that disregards the expertise in taxation. Therefore, once you graduate, you can commence your pursuit in any relevant roles. Such as Tax Advisor, Tax Policy Analyst, Tax Specialist, Tax Recruiter, Tax Examiners, Tax Manager, Employment Tax Specialist, Revenue Agent, Collector, State-Local Tax Attorney Specialist, and more such.
Career in Taxation, A dynamic job sector of now and beyond – The taxation sector is one of the fastest-growing and rather dynamic career choices in the world. Irrespective of industry or a job position, every career sector checks for suitable academic background and work experience in a candidate. A prospect’s potential matters to a similar extent as it will indicate where you will be. Obvious to our awareness, the thriving industries, and trending entrepreneurship are paving ways to more taxation jobs in India and abroad.
Basically, the majority of tax jobs are listed under the status of administrative jobs, finance, accounts, consultancy, and engaging in legal issues. The popular conception about taxation career argues that tax professionals have a tedious career. However, the truth is otherwise. Anyone willing to build a career in taxation is expected to have excellent problem-solving skills, analytical ability, commercial skills, etc. To excel and thrive in the career, effective communication skills, logical perception, and problem-solving abilities are also mandatory.
In a generalized viewpoint, professionals working as tax lawyers, defense attorneys require to work in a dynamic, fast-paced, and aggressive atmosphere. Whilst, one’s working for individuals and corporations rather work in a laid-back environment. Nonetheless, the nature of the job in the field of taxation is easily predictable, it thus, enables you to plan a break quite earlier than the rest. Still, few careers for tax experts are uncertain and changeable. In a country like ours, tax regulations, laws, rules, change without any prior prediction? Remember the demonetization and the GST criteria that followed by? Apparently, in the taxation field, there would be newly regulated laws, court credits, orders that administer as protocols for those that fiddle in the matters of money. As a tax professional, you are continuously challenged. So, it becomes of utmost importance to handle your responsibility with a calm and healthy mindset. Building a career in taxation is not only bound to landing a job, but it’s also of continuous endeavor to learn and keep yourself updated by learning and tailoring new market strategies of today.
Also Read: Why You Should Study Taxation Course in 2020
Concerning the roles and responsibilities, tax professionals are employed at various levels. Such as mentioned before, the most prevailing career alternative in taxation includes Tax Analysts, Revenue Managers, Income Tax Officers, Tax Collectors, Property Tax Consultants, Tax Recruiters, Tax Examiners, Tax Advisors, Business Tax Consultants, etc. Likewise, additional career options in taxation involve Defense Attorneys, Tax Lawyers, Tax Counsels, who all work for clients dealing with tax-related problems. In India, the top taxation career in the Government sector and the relevant top administrative jobs can be attained through the UPSC examination, which is conducted once in every year. The minimum eligibility to compete in the exam is a bachelor’s degree in the relevant subject from a recognized educational institution. Also, there is a similar alternative to get into the public sector through SSC CGL Exams. No matter what sector you’d prefer to build your career in, the field of taxation is one that ensures a promising and stable future ahead!