Best 6 Tax Accounting Certificate Courses in India

Tax Accounting Certificate Courses are all professional programs available for career enhancement & development at the graduation and post-graduate level for university students throughout the world and in other locations. It offers the principles of accounting and taxation. It is an ideal career path since it balances the company’s growth and problems. Tax accounting certificate course’s range hasn’t only shared some characteristics on a professional standard or in terms of working; it also has personal significance. Accounting is a broad discipline that deals with overall corporate budgets and income statements.

The timeframe of a Tax Accounting Certificate Course might range from 6 to 24 months, depending on the institution. You must have a bachelor’s degree in any field from an accredited school with a minimum aggregate of 55% and above to be eligible for the course. If you’re searching for a career alternative or growth, this article will guide you through all the essentials of corporate accounting and taxation.

Tax Accounting certificate courses are a great way to get a foot in the door of a variety of jobs in a wide range of industries. Many top responsibilities in leading businesses are supported by people with an accounting background, indicating the industry’s reputation and potential.

What is Tax Accounting?

Tax accounting incorporates the policy and procedures that are being used to generate tax records and other revenue statements, as well as the principles and rules that are required to estimate taxable profits. Tax accounting is a group of accounting rules that concentrate on taxes rather than professional accountants reporting. The Tax Law manages tax accounting and specifies the criteria that firms and individuals must adhere to while completing their tax returns.

The Different Types of Tax Accounting are Given Below:

• Tax Accounting in a Business

More information must be analyzed as part of the funding financial accounting from a business standpoint. While the company’s profits, or incoming assets, must always be monitored in the same way that an individual must, any exiting monies targeted toward particular corporate duties adds a level of difficulty. This can include both funds targeted for particular organizational needs and monies targeted for investors. However, hiring a tax specialist to perform these procedures is not required.

• Accounting for Taxes and Conscience

Income tax is frequently deducted automatically from employees’ and retirees’ earnings and pensions. You must, however, submit an Income Tax return if you are self-employed, have earnings of more than $120,000, or fulfill certain other conditions. There are specified records that partnerships and business owners should preserve to complete their Tax Return, including documents of:

1. Expenses for Sales and Revenue

Sales revenue comes on the financial statement’s first line. For several reasons, this is crucial. For starters, it establishes the cornerstone for estimating net earnings. Gross margin is computed by deducting the price of items sold from revenue.

Second, sales revenue is a key line item in the top-down method of projecting the income statement since it is the first item on the income statement. Revenue trends are examined in the past, and revenue for future periods is anticipated. All costs below sales income are frequently measured as a percentage of total sales.

Here are Accounting Interview Questions Answers

2. Records of Taxes 

It’s usually a good idea to retain certain data, whether for individual income tax or business taxes, especially in case you’re inspected. It’s usually enough to keep track of your earnings and prior tax filings for your income taxes. Firms, on either hand, must keep greater detailed accounting statements.

Firms are more exposed to inspections than individuals, not just because the risks are greater. The kind of data you need to store for tax reasons will differ depending on the business, but in certain contexts, below is a list of the types of data you should maintain.

• Gross Revenue –

Gross revenue is the total amount of money you make from your firm first before expenses or expenditures are excluded. Maintaining relevant evidence that confirms the numbers and amounts of your total profits is a good strategy. The following are some examples of gross revenue records:

• Invoice
• Recordings from the service counter
• Withdrawal receipts from the banks
• Records of receipt
• Billing receipts from credit card payments

• Expenditures

Expenditures are the expenses you spend to run your firm. Any expenditure records you maintain should state clearly the total spending and whether it was a business expense. The following are examples of records that can be used to prove to spend:

• Involves checking that was rejected
• Records from the checkout counter
• Reports of revenue
• Transactions receipts for credit and debit cards
• Invoices
• Personal money receipts are being used for minor money transfers.
• Paychecks

• Seeking Legal Advice

Keeping records for tax purposes should be simple if you remain on top of it, and you shouldn’t need the help of a tax or legal professional. You may contact a business organization’s attorney in your region if you have any questions or concerns regarding the sorts of documents you should preserve, or if you have any other inquiries about beginning or running a small business.

• Purchases

Purchases are the products you purchase and then resell to buyers. This covers the cost of any goods from raw materials bought to making finished goods if you are a supplier or manufacturer. Ensure the records you maintain reveal the overall number spent and it is clear that the money has been spent on products.

The following are some examples of paperwork to keep on hand while making a purchase:

• Checks that have been canceled
• Tape receipts from the Cash counter
• Sales slip for credit and debit payment

Trying to Keep Track of Your Earnings and Deductions Will Assist You in the Following Ways:

• Prepare a valid tax return and pay the right amount of tax.
• Provide sufficient documents or documentation to back up all of the things on your
• When we evaluate your return, we’ll point out any things that aren’t quite right.

3. Payroll Records

Not only do their paycheck records include crucial data for you as well as the people, but they also contain information for governmental bodies. This paperwork will indicate the tax bills deducted from the personnel’s periodic checks, as well as the payroll tax to taxing authorities. As a reason, it is a mandatory duty that you maintain payroll information.

As the people pay their share through themselves, users are acting as a government officials, and organizations will be carefully monitoring you to guarantee guests are properly depositing and withholding central and state payments from the people. Companies might face an inspection if they don’t keep track of the payroll tax records.

Payroll records must be kept for business purposes as well. Payroll records are useful for keeping track of spending, giving proof to back up payroll estimates, and providing documentation of employee history for use in arranging increases. Payroll files are an important part of an employee’s file.

In addition to job problems, maintaining track of your payroll records can help you save money on taxes. In the event of a Government investigation, you’ll need payroll records to back up any statements you make on your taxation.

The following information must be included in the individual’s payroll records:

• First Name
• Last Name
• Address of your residence
• Occupation
• Date of birth
• Start date of employment
• Salary scale
• Salary earned in total
• Compensation is increased or deducted.
• Regarding paid sick leave, extra proof is expected.

Payroll Records Can Be Linked to the Following:

1. Refusing to submit forms
2. Taxes on wages
3. Deductions and Benefits
4. Working hours Vacation time
5. Wages on the whole
6. Payscale

There are a few different options for storing payroll documents. You may choose from  the following options, depending on your preferences:

• Paper copies should be kept
• If you must use paper copies, place them in a safe area, such as a secured file cabinet. Using folders and files, keep your records organized. Also, save backup records in case the original files are lost or damaged.

Tax accountants assist people and businesses in preparing and filing correct tax returns that adhere to all legal requirements. They also utilize their tax law knowledge to assist clients in increasing savings and avoiding fines. Some tax accountants work for firms permanently. Others work for accounting companies or payroll service providers.

Tax accountants are employed by government organizations, insurance corporations, and financial services firms. Another alternative is to work for yourself. During the tax season, which runs from January 1 to April 15, tax accountants, like most other professionals, are generally quite busy.

They may give tax management services to clients during the off-season. Auditing, providing investment and asset management advice, and building financial strategies are all examples of these services.

Accounting Methodologies for Taxes

Individual Tax Accounting

Consumers make’ income tax is entirely focused on things such as income, eligible credits, investments unrealized gains, and other transactions that determine their payroll tax. This limits the cost of the necessary information for people to handle a quarterly tax return, but since paying a tax adviser is a choice, it is not required. Likewise, financial reporting includes keeping a tally of all money coming into and out of a person’s control, regardless of their planned use, including personal expenses that are not tax-exempt.

Accounting for Taxes in a Business

Additional knowledge should be reviewed on the effect of tax financial accounting from a financial perspective. While the company’s gains, or arriving funds, must be documented in the same way that a person must, any exiting government money directed toward specific organizational duties adds a level of difficulty.

This can comprise both cash designated for specific business needs and funds intended for stakeholders. However businesses do not need to hire a tax preparer to undertake such activities, it is quite usual in bigger companies due to such intricacy of the data.

Here is a Guide to Cost Management Accounting

Accounting Vs. Taxation: What’s the Different Thing?

Taxation, on the other hand, entails establishing structures and procedures to assure accurate tax filing and returns. Individuals must also pay and file their taxes according to the financial year. Accounting analyses a firm’s overall management, especially in terms of financial considerations and profitability.

Advantages

• Income categorization to apply the relevant tax rate
• adherence to statutory compliance.
• Tax returns can be used to offset losses from current and past years in future periods.
• Facilitation of tax audits.
• On-time self-assessment and payment of taxes

Disadvantages

• For the job, more time and resources are required
• Organizations pay a lot of money to tax specialists.
• Almost every year, new tax policies are implemented.
• Important Considerations

Organizations/individuals must maintain themselves up to date if rules, tax rates, or other factors change, and accounting methods should be updated accordingly.

Other Names for Tax Accountants:

• Account Manager
• Audit Specialist
• Finance Analyst

Top 6 Tax Accounting Certificate Providing  Institutions in India

Rank# 1. Tax Accounting Certificate

1.      IIM Skills

IIM Skills is among the major institutes that offer online tax accounting certificate courses to students from all walks of life who want to improve their job prospects. Their business accounting and taxation course is a fantastic program that will teach you all you need to know about Accountancy. Students will gain an understanding of the financial industry’s programs and operations, and also will be prepared to face challenges with confidence, no matter how tough they may be.

Course Name: BAT Course

Eligibility:

A degree is required in finance or a graduate diploma from a recognized university is required for eligibility. Computer literacy is required, as well as written and vocal communication abilities.

Duration of the course: 4 months

Syllabus

• Accounting Fundamentals And Tally Accounting
• GST Fundamentals
• In Tally, enter GST.
• The Fundamentals of Tax Deduction at Source (TDS)
• Tally Income Tax Detailed Excel and Management Reporting for TDS Payroll Calculation

Why Should You Enroll in IIM Skills?

While most institutes only give a limited period of completion validity, they also provide lifetime course material. They refresh their curriculum if there are any upgrades or modifications, but it is valid for a lifetime, so you will have more up-to-date stuff.

Other Courses

• Digital Marketing Course
• Content Writing Course
• Technical Writing Course
• GST Certification Course
• SEO Course

Rank# 2. Tax Accounting Certificate

2. Tezpur University –

Candidates who attend the university will learn everything that is needed to know about revenue and taxation. This training is made even better by skilled guides and well-trained teachers. The pupils are taught a basic set of fundamentals.

Curriculum:

• Accountancy\ GST
• TDS/TCS
• Tally ERP 9
• Income Tax
• Auditing with GST

After each module, there is a one-week practical workshop.

Eligibility:

10+2 / Graduation is the minimum requirement.

Students, Working Executives and Professionals, Entrepreneurs, and Freelancers can join if they are familiar with computers, MS Office, and the Internet.

Duration: 6 Months

Training Fee: INR 75000 + GST

Why Should You Join:

• 100% aid with job placement
• On-demand support for freelancers
• On-demand assistance for starting a company as an accountant or tax preparer.
• Industry-expert faculties at NIFM have issued a certificate.
• Group days and timings are flexible.
• Theory and practical classes – A curriculum that is strong on the practical.
• When anything new comes on the market in the future, we’ll be there to help.

Recommended Read: Business Accounting and Taxation Courses in India

Rank# 3. Tax Accounting Certificate

3. NIFM –

Due to its meticulously organized educational curriculum in Accounting and Taxation, NIFM is one of India’s most famous educational institutions, with 15 centers distributed across the country. With real sessions for education, the learners get to study this wide area properly. Considering the course subject, they offer an excellent Tax Accounting Certificate program with Practical Based training with adequate preparation.

Curriculum:

• Basic Definitions and Concepts
• Income from Salaries, Residential Status, and Tax-Exempt Income
• Profits and Gains from Business/Profession Capital Gains Revenue
• Deductions from total income (gross)
• Income pooling, set-off, and loss carry-forward
• Statement of Earnings and Assessment Tax Tax cut at Source and Prior Payment of Tax
• Individuals’ Taxable Income Calculation
• Calculation of a Company’s Taxable Income
• Revisions and Appeals
• Planning for Taxes

Duration: 15-week

Why Should You Enroll in This Course?

• Self-paced learning is available for free.
• For UG/PG students, a certificate of completion is given, as well as 4-course credits.
• Sessions to dispel doubts and platforms for discussion
• Tests and assignments of self-evaluation
• Materials for reading and video lectures

Rank# 4. Tax Accounting Certificate

4. Indiana University, Delhi –

In their courses, you will learn from tutors at the Top School of Business, preparing and analyzing financial summaries and getting experience in budgetary attention to detail, having to learn about the essential aspects of financial detailing, including such income levels, expenses, profits/losses, net benefit, resources, liabilities, and proprietors’ value, making complicated business decisions by understanding the information, and so on are all advantages of joining this institute.

Curriculum:

• Applications for Business Computers
• Accounting in the Business World
• Tally Prime Business Communication GST Advanced Accounts Direct Tax

12+/Graduate Eligibility

12-month duration

Why should you go with Tax Accountancy?

• Job security is 100% guaranteed.
• Award-winning vocational training school with three certifications
• Workshops and training sessions are held on a regular basis.
• CA Faculty with Years of Experience
• The curriculum has been updated.
• Practical classes account for 80% of the time, while theoretical classes account for 20%.
• Practical instruction using the most up-to-date software
• Skills that aren’t hard to get by Mock Interview Sessions for Training
• Excellence in Education for More Than 22 Years

Rank# 5. Tax Accounting Certificate

5. Zonal Tech Solution –

The course is broken down into 12 sections. Learners will exhibit their ability to analyze financial data and respond accordingly. As a consequence, they’ll be likely to find better selections, which will lead to increased profitability. Accounting procedures might thus be given to each sort of inter-entity interaction in this way. They would provide hands-on instruction and a 100% placement guarantee during their Tax Accounting Certificate course.

Curriculum:

• Accounting in the Business World
• Basics of Business Accounting
• Theories of Accounting
• Computerized Accounts vs. Manual Accounts
• Tally ERP 9 Inventory Accounting Reconciliation Balance Sheet Reports and MIS Miscellaneous Tax Expert Tally ERP 9 Inventory Accounting Reconciliation Balance Sheet Reports and MIS Miscellaneous Tax Expert
• Prior to the GST, there were indirect taxes.
• GST (Goods and Services Tax)
• Taking Tax Deductions and Collecting Taxes at the Source
• Employee State Insurance (ESI) Employee Provident Fund (EPF) (ESI)

Time Limit: Self-paced

The Cost of the Course is INR 37500.

Why Should You Enroll in This Course?

• High-quality study resources and online video classes
• Approximately nine practice projects based on industry data
• Practice assignments, study materials, and certain online classes are all available for download.
• Evaluation of the student
• Support and discussion forum for students
• 100 percent practical training certificate of completion

Study Subjects –

Module I – Office Technologies

Module 2 – Excel Advanced

Module 3 – Accounting Fundamentals

Module 4 – Accounts Finalization

Module 5 -Tally with GST

Module 6 – Direct Taxes

Module 7: Cost Control and Auditing

Module 8 – Tally Payroll Compliance

Module 9 – MCA

Module 10 – IFRS

Module 11 – BFSI –

Module 12 – Quick Book

Module 13 – Personality Development

The Following Topics Will Be Addressed in the Curriculum:

• Financial Reporting with Tally ERP (Enterprising Resource Planning).
• Taxation that is levied directly
• Taxation that is levied in an indirect manner
• The significance of paycheck and its operations, as well as the accuracy and other details surrounding it.
• How to Use Accounting Software in a Business
• Statements of Financial Position
• Generally Accepted Accounting Principles (GAAP)
• Goods and Service Tax  Excel and Reporting (GST)

The course syllabus for the Tax Accounting  Certificate  program will be different for different universities and colleges

Recommended Read: Finance Accounting and Taxation Courses in India

Rank# 6. Tax Accounting Certificate

6. Henry Harvin Education –

The Tax Accounting Certificate course will provide you with fundamental accounting and taxation understanding. They provide you with both theoretical and practical experience to help you improve your abilities. Their add-on supplements, such as branding design and E-books can assist you in completing assignments quickly.

Curriculum:

• Accounting Fundamentals & Tally Accounting
• GST Fundamentals & Indirect taxes in Tally
• Basics of Income Tax and Revenue Tax in Tally
• The components of a payroll
• Spreadsheet for Accounting and Management Information Systems
• Financial Statements are completed.
• SAP

Eligibility:

With a background in commerce, have a bachelor’s degree (B. Com, BBI or BAF). Freshmen or those with fewer than two years of job experience will benefit from this.

Minimum Duration: 5 months

The Admissions Procedure:

Apply in person or online at the company’s official website

Why Should You Join?

• Experiential and practical learning
• Content for self-paced learning
• 4 certificates that are valid
• Curriculum that has been approved by the industry
• Case studies for real-world application
• Study resources are available 24 hours a day, 7 days a week.
• Free mock tests on a regular basis
• Training in soft skills
• 100% aid with job placement
• Professionals from the industry teach you.

Tax Accountants’ Must-Have Hard Skills:

• Understanding of Tax Law

 Tax accountants must have a thorough understanding of all tax rules and regulations that pertain to their customers. They must be knowledgeable about provincial, national, and state regulations.

• Best Accounting Practice

Based on raw data, tax experts must create forward courses. This procedure is based on well-established accounting best practices. Accounting management, financial analysis, audit, revenue, and payroll taxation are all key abilities.

• Assets Management skill

Individuals and businesses rely on tax specialists for guidance on how to lower their tax bills. As a result, mastering effective resource management is a crucial ability for tax professionals.

Tax Accountants’ Must-Have Soft Skills:

·       Organizing your time

During tax season, most tax accountants are quite busy. To prevent being overwhelmed, they must be masters of time management.

·       Teamwork and Collaboration

Tax accounting specialists communicate with their clients frequently to clarify financial information and offer advice. Professionals with a collaborative mindset can better manage the interpersonal aspects of their jobs.

Tax Accounting Certificate Requirements –

Some businesses will only recruit tax accountants with accounting degrees. Professional accountants certified auditors, and trained in financial analytics are just a few examples. Many businesses, even those with more lenient hiring rules, nevertheless tend to hire certified accountants. Obtaining some or all of these credentials might broaden your job prospects.

Typical Job Titles

• CPA stands for certified public accountant.
• Management accountant with a certificate
• Accountant forensic

Auditing –

Auditors work for both the public and private sectors. External auditors are often employed by accounting companies or government agencies. They look for proof of evading taxes or even other financial crimes in financial records.

Typical Job Titles:

• Tax auditor
• Internal auditor

Other Commerce Graduates-Approved Courses

• CPA (Chartered Public Accountant) (CPA)
• Advanced Bachelor in Accountancy and Taxation Certified Management Accountant Company Secretary
• TDS Professional Certification
• Certified Internal Auditor with ESI and PF Certifications
• Fraud Examiner Certification
• Management Consultant (CMC)
• Financial Analyst (CFA)

Frequently Asked Questions:

1. What is the role of a tax accountant?

Tax professionals are financial experts who specialize in creating tax records and providing tax advice to customers. They can help you manage your assets and schedule your financial activities to minimize your tax responsibilities

2. What makes a tax accountant different from a tax broker?

Tax brokers, sometimes known as tax professionals, specialize in the preparation and filing of tax returns and other associated papers. Tax accountants take a big picture approach and work with their clients and employers as long-term strategic partners.

3. Why should I be interested in this tax accounting certificate course?

In the banking industry, you can work in brokerage, financial institutions, industry streams, managed funds, and research firms. You can also work as a sub-broker, an investment agent, or a trading agent.

Conclusion:

Tax accounting is essential for any organization or individual because it offers a structure for declaring and paying the necessary revenue and taxes. In the event of uncertainty, a tax expert should indeed be engaged to avoid any errors in tax compliance, as tax defaulters are subject to fines and penalties. It may also be used to avoid paying taxes by determining which strategy is optimal for every type of company or individual.