Career In Auditing & Taxation

Find Auditing & Taxation very interesting and fascinating and wish to make your career in it… then this article will guide you about how to get started in this field.

Auditing & Taxation are two different terms here, let us explain you about these first.

What is Auditing?

Auditing is an official verification and examination of accounts and records, like financial accounts of a company or organization.

Professional who performs audits in various companies and other places are termed as “Auditors”.

The word “Audit” has been derived from a Latin word “audire” it means “to hear”. In medieval times (In Britain), auditors used to hear the accounts and check them that the company or organizations were not careless or deceitful.

What is Taxation?

Taxation is a process of government for collecting money from its citizens to pay for public services (for example – public parks & libraries, etc.

Types of Taxes:

Direct Tax: Those taxes, which are directly paid to the government through the taxpayer. For example – corporation tax, income tax, etc.

Indirect Tax: Those taxes, which are paid to the government by an intermediary. These types of taxes are applied on sale of goods & services. For example – service tax, sales tax, etc.

Auditing & Taxation

Courses & Eligibility

You may also check – Courses after 12th Commerce

There are plenty of courses are available in the field of Auditing & Taxation. In India, a large number of universities offer courses in these fields from diploma to masters level. Some most sought courses in the field of Auditing & Taxation are mentioned below:

Diploma Courses (One Year Duration):

  • Diploma in Accounting & Auditing
  • Post Graduate Diploma in Accounting
  • Diploma in Taxation
  • Diploma in Tax & Company Law
  • Advance Diploma in Financial Accounting & Taxation
  • Advance Diploma in Taxation
  • Post Graduate Program in Tax Management

Bachelor Courses (Three Year Duration):

  • Bachelor of Commerce (B.Com) in Fundamental of Auditing
  • Bachelor of Commerce (B.Com) in Taxation
  • Bachelor of Business Administration (BBA) in Accounting & Finance
  • Bachelor of Commerce (B.Com) in Accounting & Taxation
  • Bachelor of Commerce (B.Com – Hons) in Direct & Indirect Taxation
  • Bachelor of Commerce (B.Com) in Tax Procedure & Practice

Master Courses (Two Year Duration):

  • Master of Commerce (M.Com) in Accounting and Auditing
  • Master of Commerce (M.Com) in Taxation
  • Master of Business Administration (MBA) in Banking & Taxation
  • Master of Commerce (M.Com) in Accounting & Taxation
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Eligibility Requirements: For admission in bachelor programmes, students must have passed 12th with commerce subjects like Mathematics, Economics & Accounts. For postgraduate courses, the candidates must hold a bachelor’s degree in the related field.

You may also check: Top Management Courses

Admission

How you will get admission in these courses?

Some universities and colleges offer admissions in bachelor or diploma courses on the basis of merit list prepared on the basis of marks obtained in 12th standard, while other universities select students for admissions on the basis of entrance exam followed by group discussion and personal interviews.

For admission in MBA in Banking & Taxation, you can opt CAT 2019, it is a national level examination conducted for selecting appropriate candidates for admissions in management courses.

Some entrance exams for MBA are listed here:

  • CAT (Common Admission Test)
  • MAT 2019 (Management Aptitude Test)
  • CMAT 2019 (Common Management Admission Test)
  • GMAT 2019 (Graduate Management Admission Test)
  • SNAP 2019 (Symbiosis National Aptitude Test)

There are many universities in India which offer courses in this field which are mentioned below:

  • Symbiosis Law School Pune, Maharashtra
  • Osmania University, Hyderabad
  • University of Pune, Pune
  • Xavier’s College Kolkata, West Bengal
  • Budge Budge College, Kolkata
  • Symbiosis College of Arts and Commerce, Pune

Career Scope

Is there a bright future for you in Auditing and Taxation? Definitely, the answer is YES!

There are immense job opportunities are available in these fields. After holding a degree in this field you can take up for a job in both private and government sectors. Professionally you can also opt teaching jobs in colleges and universities.

You can find jobs according to your educational background and working experience. You can work in different fields such as different government and private organizations, business banking sector, colleges, universities, economic companies, etc.

What Job Title Might I Have?….. Here we have listed some job titles of these fields:

  • Accountant
  • Tax Policy Analyst
  • Financial Analyst
  • Internal Auditors
  • External Auditors
  • Employment Tax Specialist
  • Personal Finance Consultant

Role of a Tax Accountant:

  • Preparing and submitting accounts and tax returns.
  • Advising about business plans, investment opportunities, etc.
  • Assisting clients with financial and income tax statements.
  • To develop or plan strategy to minimize the income tax.

Role of an Auditor:

  • To give the true view of the profit or loss of the company.
  • Test documentation and supporting account balance.
  • To ask about the management and others to develop an understanding of the company.
  • Prepare audit reports and shows result to the authorities.

Salary

“Earnings in these sectors are beyond the limit with a good experience and degree.”

In India, the average salary of an auditor is between Rs. 3 to 4 lacs per year while in abroad, you can earn an average salary of more than $52 k per year.

As an Accountant, you can get a salary package between Rs. 2 to 3.5 lacs annually and as a Senior Accountant, you can earn the salary package of above Rs. 3 lacs per annum.

Experience counts in these fields, more you will get experienced in these fields’ better salaries you will get.

Books & Study materials

After analyzing the books available on the market for Auditing & Taxation, here we have listed some books which will help you throughout your studies:

Systematic Approach to Income Tax, ST and VAT by CA. Girish Ahuja and Dr. Ravi Gupta

Students Guide to Income Tax by Dr. Vinod K Singhania and Dr. Monica Singhania

Students Handbook on Income Tax, VAT and ST by T.N. Manoharan and G R Hari

Principles of Auditing & Other Assurance Services by Ray Whittington

IT Auditing Using Controls to Protect Information Assets by Chris Davis

Accounting Quality, Auditing, and Corporate Governance by Imhoff, Eugene A., Jr

A Guide to Tax Audit and Other Certifications under Income Tax Act, 1961 by CA Amit Ashok Purohit

A Practical Guide to Taxation of Capital Gains and Gifts by N.S.Srinivasan

For any other queries regarding Career In Auditing & Taxation, feel free to leave your queries below.

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Displaying 39 Comments
  1. Prerana says:

    I’m in 12th commerce which course I do plzz give me advice

  2. Kadam Saiprasad Balajirao says:

    Sir I have b.com gradute student and I very interested work in the field of accountancy, audit and taxation so I confused so please give me proper suggetion which diploma to me very well

  3. GAZHAFAR ADIL says:

    sir..i am b.com student.
    my accountancy is not good nevertheless i am doing work in CA firm
    for gaining exprience.
    so after almost one year in CA firm , can i get a good job with handsome salary …

  4. Geeta sharma says:

    Hi
    I have done mcom. I want to do msc in taxation online.which will be the best course for me
    for one year duration

  5. rasika khade says:

    I’m going to complete my graduation now ,from costing subject then I will choose which career I can safely save , please suggest me.

  6. Anila says:

    Sir… iam a degree student… studying in b.com finace and taxation..any scope in banking feild.? Then what will i do .. plz.help

  7. Ammu B says:

    Sir I am a bcom taxation graduate and also have tally certificate. Now I looking for a job in accounting field.how I get it

  8. Prince arya says:

    I completed 12th what course ldo for one year l want job early

    • Hanif Khan says:

      you should do any course from your subject in 12th like computer (web designing), commerce (taxation or accounts) (tally).

  9. TUSHAR says:

    I HAVE RECENTLY DONE GRADUATION AND AFTER A FEW DAYS I GOTTED JOB ACCOUNT ASSISTANT BUT SIR WHICH TYPE OF COURSE I DO IN ACCOUNT RELATED WHICH IS IMPROVE KNOWLEDGE, SKILL.
    SO PLEASE SIR SUGGEST ME AS SOON AS POSSIBLE BCOZ I SEARCHING IN INTERNET ACCOUNT RELATED COURSE BUT CANNOT GET PROPER INFORMATION.

  10. saurabh jindal says:

    I am a law graduate and i have a experience of gst, income tax and accounts so what can i do for my career.

  11. vishal kundal says:

    Sir i am a commerce graduate (b.com )
    So what is the best course for me ???
    Related to accounting or taxation ???

  12. Nutan says:

    Any course after HSC COMMERCE in TAXATION in pune

  13. srishti robertson says:

    i m bcom taxation student n i need a good job after bcom taxation in good place or city with a good salary.
    so can i get the job after this or not???
    plzz tell me

  14. FAKRUZ ZAMAN CHOUDHURY says:

    I am a law graduate and graduate in science. Now i want to know about any course for legal taxation. Please inform me about the details.

  15. PRAMOD SONWANE says:

    hi i’m pramod sonwane Please help me in finding an institute only for Tax and GST related course with best faculty and with hands on practise facility… and i have completed M.COM

  16. PRAMOD SONWANE says:

    Please help me in finding an institute only for Tax and GST related course with best faculty and with hands on practise facility… and i have completed M.COM

  17. Kuldip Chettri says:

    Please help me in finding an institute only for Tax and GST related course with best faculty and with hands on practise facility…

  18. sufiyan says:

    I am in second year bcom which course i can do along with bcom in auditing ??.. How to become a auditor after graduation which course i have to do ?

  19. sheriz boga says:

    sir, i m sheriz boga please guide me for the following.i had dne b.com n mba (finance) frm pune univ, n i m married and nw i wnt to start my own my business related to law in taxation wht course should i do n it should be dne nt at regular basis as i hd small kid please guide me
    waiting fr positive reply

  20. Roshni says:

    I am passing dtl in a. Y 10_11 at time how can do?

  21. hamiss Tsuma says:

    Am doing B.com.which career should I take for good salary and which mater most in the availability of the marketing

  22. neeraj awasthi says:

    My Accountancy is good
    which type course i choose
    i completed my 12th this year

    • Nadim Shaikh says:

      i have completed b.com & i have 5 years exp in accountant
      Please help me in finding an Tax and GST related course list in pune

  23. ranu jadhav says:

    i have completed baf from mumbai university. I wanted to do someting in accounts and taxation. there is any course regarding this

  24. ajay soni says:

    I am about to finish my M.com. I am very much interested in audit. Please help me out for the best career options.

  25. Utkarsh Srivastava says:

    Sir I have one question regarding auditing filed ..suppose I got degree in auditing ..then after how can I obtain job in government or private sector please answer.

    ThAnK u sir

  26. Utkarsh Srivastava says:

    Sir I have a doubt related to job opportunity after taking degree in auditing ..how can we get job .after taking degree ?

  27. Chinoy francis says:

    Sir/madam,
    I have completed mcom from tax. I want to do more further courses. Please suggest me.

    Thank you.

  28. rajesh kujur says:

    What will be better carrier after b.com for auditing and taxation.

  29. Paresh Kamalakar Meher says:

    I have done my graduation in B.com nd currently doing work with a company as a designation of Account executive but i want a career in Accounts so what should i do anything??

  30. ankit kumar says:

    dear sir i was completed my b.com with taxation last year and now i’m preparing govt. exam but what i can do for money to work part time
    please help me about it

  31. pooja gupta says:

    I am b.com student so I want to know about this field . I am very confused in which line should I go

  32. rajeswari ramesh says:

    It is very helpful information .in future if I need anything about studies I will go with this . thank you

    • gaurav thakkar says:

      Sir i am a commerce graduate serving in finance industry for last 5 years. is there any course for me in taxation & audit industry. Please help

  33. simranjeet kaur says:

    Hii, im +2 student
    My economics is good which cource should i opt. In future so that i can get good salary

  34. DiNesH KuMar says:

    I am in B.com 2nd year
    My Accountancy is GoOd
    So what I do ?

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