Aspirants are required to meet the minimum eligibility criteria of the selected college in order to take admission in tax law. If the student fails in meeting the eligibility criteria of the college, his/her application would be rejected. Provided below are the eligibility criteria of Tax Law that candidates need to meet in order to be held eligible for the same:
To be eligible for a diploma programme in Tax Law, candidates must have passed 10+2 or equivalent with not less than 50%-60% marks in aggregate.
To be eligible for an undergraduate programme in Tax Law, the candidate must have passed or qualified the 10+2 examination or an equivalent examination from a recognised board or university. In addition, the candidate is required to score at least 50%-60% aggregate marks in the qualifying exam.
To be eligible for a postgraduate programme in Tax Law, an aspirant is required to have completed an LLB or its equivalent degree. Candidates who have completed a 5-year long integrated law course shall also be considered eligible for admission to the PG Diploma or LL.M course in Tax Law. The candidate is required to score a minimum of 50% to 60% marks in the qualifying examination.
Tax lawyers handle a variety of tax-related issues for individuals and corporations.
They may help clients navigate complex tax regulations, so that clients pay the appropriate tax on items such as income, profits, and property.
For example, tax lawyers may advise a corporation on how much tax it needs to pay from profits made in different states in order to comply with Internal Revenue Service (IRS) rules.
What will you do daily
Keeping confidential records and tax information for clients
Understanding finance and accounting principles
Communicating and negotiating with federal, state and local government
Evaluating and assessing complicated tax issues
Researching and analysing federal and state laws.
They monitor legislative developments and advise clients with respect to the potential impact of pending legislation on their businesses and their personal finances.
Excellent oral and written communication skills
Analytical reasoning skills
Attention to detail
In-depth understanding of the relevant legal codes
In-depth understanding of all relevant government regulations
Where will you work
Tax attorneys work in a formal, professional office environment. Expect to wear professional clothing, especially if you deal directly with clients.
Tax lawyers will often work long hours, 40-60 hours per week particularly if they’re working on a major case.
Because of the workload, and the intense pressure to get every detail correct, this is a high-stress position.
Few of the job positions that tax graduate can get to:
Income Tax Consultants
In terms of salary that a taxation lawyer can expect, tier 1 law firms usually offer an average salary of Rs 10-12 lakh to freshers and the starting salary in a tier 2 firm is around 6 lakhs.
The range, however, depends on factors such as job profile, company, academic background, location of the job and henceforth.
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You should have a Basic Knowledge about Excel Formulas & Should have a Laptop with Internet Connection to perform all the tasks.