Master Of Commerce (M.Com.) Taxation - Sha-Shib College of Science & Management (SSCSM), Bhopal
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2 Years
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Post Graduate
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Commerce
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2 Years
Post Graduate
Commerce
The Master of Commerce in Taxation program is designed to provide students with advanced leadership skills and the knowledge to serve in supervisory roles in the tax industry. This 2-year degree program combines core accounting and taxation courses, including income tax law and practice, indirect taxation, and systems analysis.
The Master of Commerce in Accounting and Taxation degree program is a full-time, postgraduate program that focuses on the practical application of theoretical knowledge. It is a comprehensive programme, spread over four semesters, and aims to develop students' critical thinking and application skills. It provides detailed knowledge of corporate law, international taxation, financial accounting, and derivatives, among other topics.
M.Com. students can specialize in any area of finance or accounting. They can work in the public or private sector. In some cases, the M.Com degree program allows those who have a B.Com. degree to enter a master's program. By gaining a master's degree, students can start their businesses or pursue further studies.
MCom taxation is an excellent option for BCom graduates. It offers a rich syllabus, excellent job opportunities, and highly desirable pay scales. Additionally, graduates are prepared for professional certifications. A Master's degree in taxation is a great way to build your business or career.
| Aspect | Details |
|---|---|
| Mode of Study | Full-time/part-time, Distance, or Online |
| Programmes Offered | Over 200 programs |
| Admission Status 2024 | January session: Registrations closed on March 31, 2024, June session: Registration is expected to begin in June |
| Fee Range Across Courses | UG courses: INR 7,900 - INR 60,000 PG courses: INR 6,300 - INR 62,000 |
| Level of Programmes Offered | UG, PG, Diploma & PhD |
| Popular Programmes | B.Ed, BA, BSc, MSc |
This M.Com in Taxation program is designed to give you the most up-to-date insights into the complexities of Federal as well as State and Local taxes for qualified students. The curriculum also is focused on empowering students with the knowledge to offer tax advice to both individuals and businesses that require it. In the end, the goal is to prepare students who are eligible to work in those of the Indian Revenue Service (IRS), State Departments of Revenue, and other similar organizations.
Taxation, as a majority of citizens are aware, acts as a mechanism used by the government to collect funds from tax-paying earnings to fund public services like libraries, roads, parks, and public transportation. There are two main types of tax, direct taxes that are directly paid by the taxpayers towards the state (e.g. corporation tax, income tax) as well as indirect taxes that are paid indirectly through the sale of goods or services (e.g. sales tax or tax on services).
Auditors play a vital part in ensuring compliance with tax laws by conducting an audit of individuals' or business's financial records to find inconsistencies or discrepancies. They also look for attempts to evade tax. This M.Com Taxation program is designed to train skilled auditors and professionals who can serve the public sector or private organizations.
The tax system is a major influencer of the social functions of society and is an essential element of revenue for the government. The M.Com Taxation program is designed to help students understand the ethical complexities of taxation, the interaction between national and global economies as well as taxation and the most important concepts in taxation, such as taxes on estates, planning financial reporting, property taxation sales tax, deferred compensation and so on.
The study of M.Com Taxation is a great option to B.Com graduates who are unsure about their next steps. The program has an interesting syllabus that is appealing to passionate students. Furthermore, it provides numerous job opportunities that offer attractive pay rates.
MCom Taxation equips students with professional skills in finance, taxation, and accounting, giving them an excellent foundation in these areas. The knowledge gained is not only able to fulfill the goals of eager B.Com graduates but also helps them prepare to assume leadership and managerial positions in the finance sector.
Selecting M.Com Taxation to be a graduate option will provide a comprehensive understanding of the most recent tax concepts practices, laws, and practices. Because of the analytical and communication requirements of accounting, finance as well as taxation, the course will help students acquire the necessary abilities, opening the door to a successful career.
The job prospects for M.Com Taxation graduates are abounding in both private and public sectors, which include Taxation Departments, Marketing Companies, Investment Banks, and the Banking Sector. Jobs like Investment Analyst, Financial Analyst, Marketing Manager, and many more are accessible. There are also opportunities in the academic world, with universities offering jobs for those looking to teach and the topics they cover.
The M.Com Taxation admission process:
The eligibility criteria for M.Com Taxation are summarized in 8 points:
With the Admittance to M.Com Taxation programs starting in 2024, a variety of schools across India have started the admission process. Most of these schools require applicants to score minimum marks of passing in their respective entrance examinations to be considered for admission.
Entrance-Based Admission
| College Name | Average Fees |
|---|---|
| Acharya Nagarjuna University, Andhra Pradesh | INR 11,500 |
| Annamalai University, Tamil Nadu | INR 7,000 |
| Assam University, Assam | INR 16,895 |
| Avinashilingam University for Women, Coimbatore | INR 4,400 |
| Bangalore University, Bengaluru | INR 7,000 |
| University Of Rajasthan, Jaipur | INR 20,000 |
For those who prefer the merit system, below are colleges that use the merit-based admission system and have no Entrance Exams for MCom. Taxation:
Merit-Based Admission
| Rabindranath Tagore University, Bhopal | INR 20,000 |
| DAV Velankar College of Commerce, Solapur | INR 4,365 |
| Chhatrapati Shivaji Maharaj University, Navi Mumbai | INR 56,100 |
| DR. C.V. Raman University, Khandwa | INR 15,000 |
| Bishop Chulaparambil Memorial College for Women, Kottayam | INR 7,740 |
| Sanjay Ghodawat University, Kolhapur | INR 1,00,000 |
Entrance examinations have become a mandatory step for undergraduate students aspiring to pursue postgraduate courses, particularly in top-rated colleges. This trend extends to M.Com Taxation programs as well. These examinations serve as a crucial filtering mechanism to identify potential candidates from a pool of applicants.
In India, various entrance examinations are prevalent for M.Com Taxation, such as DUET, OUCET, SKUCET, AUCET, among others. However, due to the ongoing pandemic, most of these examinations are conducted offline. Delhi University stands out as an exception, conducting its entrance examinations online.
Typically, these entrance examinations consist of multiple rounds. The initial round is a written examination, evaluating candidates' subject knowledge and their ability to manage time effectively within the given constraints. A cut-off mark is set for this round, and candidates who surpass it proceed to the subsequent round, which is the interview.
Qualifying candidates in the interview round are often assured Admission to the M.Com Taxation program in their respective colleges. This two-step process ensures that the selected candidates not only possess the requisite knowledge but also demonstrate aptitude and suitability for the course.
The M.Com Taxation Syllabus primarily focuses on various taxation concepts and the ethical considerations associated with them. It ensures that students gain a thorough understanding of how the taxation system operates. Additionally, the syllabus aims to foster the development of communication and leadership skills, which are essential for careers in this field.
MCom Taxation Subjects
| Semester I |
|---|
| Subjects |
| Law of Direct Taxes and Practices - Income Tax Paper I |
| Basic Concepts, Definitions, and Charge of Income Tax Act |
| Scope of total income and Residential Status |
| Income from Salaries and House Property |
| Tax payment liabilities in certain cases |
| Gross Total Income Computation |
| Rebates and Double Taxation Relief |
| Assessments, Registration, Returns Recovery of Tax Refund |
| Tax Authorities and Tribunal |
| Semester II |
|---|
| Subjects |
| Law of Direct Taxes and Practices - Income Tax Paper III |
| Advance Payment of Tax |
| Return of Income and Assessment |
| Customs Act, 1962, and Customs Tariff Act, 1975 |
| Special Features of Indirect Taxes |
| Wealth Tax Act |
| Rules and Central Excise Tariff Act, 1985 |
| Excise law, Excise Liability, and Excisable Goods |
| Valuation under the Central Excise Act |
| Service Tax, Payment of service tax, and registration |
| Central Sales Tax Act |
| Semester III |
|---|
| Subjects |
| Law of Direct Taxes and Practices - Income Tax Paper V |
| Tax deduction and collection at the source |
| Interest and refund of excess payment |
| Appeals and Revisions |
| Penalties and Prosecutions |
| Assessment, Demands, Recovery, and Refund |
| Adjudication, appellate, and Revision provisions |
| College Name | Fees |
|---|---|
| Assam University, Silchar | INR 16,895 |
| Rabindranath Tagore University (AISECT), Bhopal | INR 20,000 |
| D.A.V Velankar College of Commerce, Solapur | INR 4,365 |
| Chandigarh University, Chandigarh | INR 60,000 |
| Chitransh A.D.P.G College, Bhopal | INR 6,500 |
| Chhatrapati Shivaji Maharaj University, Navi Mumbai | INR 56,100 |
| ICFAI University, Shillong | INR 60,000 |
| DR. C.V. Raman University, Khandwa | INR 15,000 |
| Sha-Shib College of Science and Management, Bhopal | INR 10,000 |
| Sanjay Ghodawat University, Kolhapur | INR 1,00,000 |
| Sri Sathya Sai College for Women, Bhopal | INR 17,100 |
| Avinashilingam University for Women, Tamil Nadu | INR 4,400 |
| Bhaktavatsalam Memorial College for Women, Chennai | INR 7,740 |
| Sree Sankara College, Kalady | INR 6050 |
| Annamalai University, Tamil Nadu | INR 7,000 |
| Bangalore University, Bengaluru | INR 20,000 |
| IGNOU | INR 7,000 |
| University of Rajasthan, Jaipur | INR 20,000 |
| Shivaji University, Kolhapur | INR 10,000 |
| Smt. Champaben Balchand Shah Mahila Mahavidyalaya, Sangli | INR 20,000 |
Learning M.Com Taxation abroad can be an excellent possibility for students enthusiastic about the area. Several top universities in the world offer M.Com in Taxation. This is a list of the top colleges offering this program in foreign countries.
| College Name | Total Average Fees |
|---|---|
| Massachusetts Institute of Technology, Cambridge | INR 35,15,300 - INR 66,29,200 |
| University of Michigan, USA | INR 17,08,900 - INR 41,71,300 |
| University of Toronto, Canada | INR 11,71,600 - INR 34,46,800 |
| The University of Melbourne, Melbourne | INR 18,03,00 - INR 34,38,300 |
| The University of Sydney, Sydney | INR 15,66,400 - INR 24,47,500 |
| Western University, London | INR 3,53,300 - INR 60,72,500 |
| The University of Adelaide, Australia | INR 17,13,300 - INR 21,53,800 |
| University of Otago, New Zealand | INR 12,39,200 - INR 21,25,700 |
| RMIT University | INR 10,80,900 - INR 20,67,700 |
| Swinburne University of Technology, Melbourne | INR 3,35,400 - INR 18,40,600 |
An M.Com degree could be the start of a career in banking, insurance, and other related industries. The knowledge gained from this course will enable you to comprehend the workings of banks. It also provides you with an essential understanding of taxation and business law. After graduation, you will be able to be employed in the finance industry ranging from managers to executive level.
Students who have completed the M.Com with a focus on Taxation can expect to find employment in a range of industries that range from auditing to accounting. They can also apply for private or government jobs or pursue doctoral degrees. But, a thorough knowledge of accounting is needed to pass the tests.
When they have completed this Master of Commerce program, candidates can be considered to become a tax consultant or be employed as a tax lawyer or compliance specialist. In both instances, applicants need to have an undergraduate education in either accounting or business. The master's degree program will prepare students for a career in the corporate industry.
M.Com graduates who have excellent communication skills should think about taking the MCom in taxation. The curriculum will provide an in-depth understanding of taxes and finance. This program will allow for any field that involves taxes, whether personal or business.
A comprehensive list of the majority of the jobs a M.Com Taxation graduate can acquire together with job descriptions and the average salary scales for each of them.
| Job Profile | Job Description | Average Pay Scale (per annum) |
|---|---|---|
| Certified Public Accountant | Prepares tax returns for individuals. Help clients with various questions that concern income and taxes. | INR 4,00,000 to INR 9,00,000 |
| Financial Advisors | Analyzing the financial requirements and providing different suggestions about the needs. Helps plan the various goals for clients, such as the cost of business and investments, insurance policies and more. | INR 6,00,000 to INR 9,00,000 |
| Directors (Accounts) | Does not consider the overall growth and the growth of the accounts within their team. | INR 5,00,000 to INR 19,00,000 |
| Chief Financial Officer | Responsible for the financials of an organization or company. Responsible for reviewing risks to the financials and developing business plans. Responsible for maintaining the financial reports. | INR 10,00,000 to INR 20,00,000 |
| Tax Collector | The company provides a wide variety of tax-related services adhering to the law and rules within a specified deadline. Working with clients to prepare tax returns and analyze the tax return that is complicated to prepare. | INR 11,00,000 to INR 13,00,000 |
| Tax Examiner | The tax return is a form of tax that are filed by individuals as well as small-sized businesses at the state, municipal or federal levels. | INR 8,00,000 to INR 10,00,000 |
| Revenue Agent | In charge of ensuring local, state and federal government is paying taxes to businesses and individuals. | INR 6,00,000 to INR 8,00,000 |
| Audit Manager | The job entails organizing and supervising internal audits in accordance with an annual plan for audits. Assist in the management of auditors | INR 10,00,000 to INR 12,00,000 |
Many colleges that offer M.Com Taxation have top recruiters during the process of the year of placement. Here are some most reputable companies and organizations that recruit M.Com Taxation graduates.
B.Com graduates aiming to pursue an M.Com in Taxation should possess essential skills in taxation to excel in their studies and future careers. These skills include:
Q. What is an M.Com in Taxation?
Ans. M.Com in Taxation is a postgraduate program that focuses on the most advanced research in taxation. The program covers subjects like tax laws as well as regulations, compliance, and tax planning.
Q. What are the requirements to get the award of an M.Com for Taxation?
Ans. Typically, candidates must hold a bachelor's degree or higher in Commerce (B.Com) or an equivalent subject from an accredited university. Some institutions might require candidates to pass an entrance exam or satisfy specific GPA standards.
Q. What job opportunities can you expect after you have completed the M.Com on Taxation?
Ans. Graduates can pursue jobs as Tax Consultants, Tax Analysts Tax Managers Financial Analysts, Tax Auditors with a focus on taxation. You can also be employed by tax departments of government companies, accounting firms or consulting companies.
Q. Do I need to have work experience to be admitted to M.Com Taxation courses?
Ans. Although work experience isn't always required, certain institutions might prefer applicants who have relevant experience in the fields of taxation or related areas.
Q. What topics are included by M.Com Taxation?
Ans. The course usually covers topics such as Income Tax (also known as Goods and Services Tax (GST) as well as Taxation for corporations, Corporate Taxation, International Taxation, Tax Planning, Taxation Laws, and Accounting for Taxes.
Q. What is the length of the M.Com taxation program?
Ans. The typical duration is two to three years according to the university and the program's structure. Certain universities might provide part-time or distance learning with a variety of durations.
Q. Are there any special qualifications required to be a candidate for M.Com Taxation?
Ans. Students must possess excellent analytical skills, ability to calculate and attention to detail in addition to the capability to comprehend taxes and tax regulations efficiently.
Q. Can M.Com Taxation be a possibility to pursue through distance education?
Ans. Yes, numerous universities provide M.Com Taxation programs through distance education or online learning platforms that allow students to pursue their studies while managing other obligations.
Q. What are the possibilities of further studies following completion of the M.Com with a concentration in Taxation?
Ans. Graduates can pursue additional studies, such as a Ph.D. on Taxation. specializations in the field of taxation or related fields, or professional certificates such as Chartered Accountancy (CA), Certified Public Accountant (CPA) and Certified Management Accountant (CMA).
Q. How do I apply to M.Com taxation?
Ans. The most sought-after candidates can apply online via the official websites of the institutions or colleges that offer M.Com Taxation courses. Candidates must fill out an application form, upload the necessary documents, and might be required to sit for entrance exams or tests in the admissions process.
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