Top 10 Renowned Tax Accounting Classes Online

It is that moment when businesses start making year-end adjustments, completing bookkeeping, and planning income tax returns. To prepare and file accurate tax returns, businesses need tax accountants. So, if you’re planning to make your career in tax accounting, you have come to the right place. We have listed the best institutes that offer tax accounting classes online and offline and prepare you for the upcoming fiscal year. 

What is Tax Accounting?

Tax accounting is a structure of accounting methods that solely focuses on taxes. Its purpose is to figure out taxable income and prepare income tax return documents that follow the law.

What Are the Types of Tax Accounting?

• Tax Accounting for an Individual

When only an individual is concerned, tax accounting focuses on income, qualifying deductions, investments, profit or loss, and other transactions related to an individual’s tax burden.

• Tax Accounting for Businesses

For a business, a tax accountant requires more information apart from the company’s earnings and incoming funds; it also requires additional details of funds directed towards business expenses and shareholders.

• Tax Accounting for a Tax-exempt Organization

Tax accounting is essential even though an organization is legally tax-exempt because it must file annual returns. For this, they shall provide information regarding incoming funds like grants or donations and how those funds are used during the organization’s operation.

Importance of Tax in India

Tax is the most prominent income source for any government which finances all government activities, and it uses tax money in projects that uplift a country’s economy. So, where is tax money used?

• To build and maintain infrastructure like roads, railways, parks, government buildings, etc.
• To redistribute wealth among citizens of the country.
• To help the poor get better healthcare, education, and other benefits.

Scope of Tax Accounting Career

Most businesses rely on outsourced tax accounting because they are trained and focused. Moreover, as companies have other significant work on hand, they prefer to hire a professional tax accountant to avoid the documenting hassle.  So, when you are attending tax accounting classes online, your demand is already snowballing. After completing tax accounting classes online or offline, one can choose from the following career options:

• Tax Accountants

Tax accountants prepare strategies to minimize tax payments, arrange audits with authorities, calculate the tax owed and tax returns, and make sure that tax is paid on time by meeting the country’s tax laws.

• Tax Analyst

Tax analysts are mainly responsible for preparing, reviewing, and filing tax documents for a client, which is done primarily in an office, and they do not require to travel for work. They make sure that their client pays taxes on time, and they analyze all tax liabilities on the organization and take suitable actions. Moreover, they shall be,

• Knowledgeable in payroll tax matters
• Proficient in mathematics
• Detail-oriented
• Possess a degree in taxation and accounting

However, if you do not have a degree in taxation and accounting or it was not a part of your degree, you can take up tax accounting classes online or offline to gain maximum knowledge and skills.

• Tax Manager

Tax managers are highly experienced and hold master’s degrees along with CPA credentials. Their primary responsibilities include,

• File and manage taxes
• Supervise mergers and acquisitions
• Analyze and reduce tax risks
• Regularly interact with clients
• Maintain friendly business relations
• Manage and coordinate audits for clients

• Financial Advisor

A financial advisor is a job in demand, and a financial advisor needs to be abreast of the country’s tax laws to provide accurate advice to clients. They are mostly self-employed and help clients invest their capital to gain profit.

• Tax Attorney

Tax attorneys help clients with legal issues regarding their taxes and limit their exposure to tax liabilities. Therefore, they should have knowledge of laws and regulations related to accounting, business, and taxes.

Other Career Options Include:

• Auditor
• Accountant
• Revenue agents
• Tax policy analyst
• Tax planners
• Income tax officer
• Tax recruiter

Also Read: Accounting Interview Question Answers

Necessary Skills

Every industry requires a specific skill set that can be attained through practice. Let us discuss further which skills are needed for becoming a prominent tax accountant:

• Problem-solving skills are a must because problems are inevitable, and tax accountants will have to find a way to save clients’ money legally.
• It is essential to catch errors their clients make, and hence, a high level of attention to detail is required.
• When you work with clients, your deep knowledge will play the game because they rely upon you for their finances.
• When laws and regulations are ever-changing, it is necessary to possess adaptability skills and stay up-to-date.
• Time management and organization are valued everywhere, and it is an important skill to avoid misplacing and misfiling.
• Software proficiency is a celebrated skill in this digital age because modern technologies have replaced paper and print.
• Communication is a fundamental skill for every person on this earth, and here, it plays a crucial role in presenting tax reports, budget proposals, and conveying other information.

Eligibility Criteria for Tax Accounting Classes Online?

Tax accounting courses are certificate courses and can be attended by anyone with a bachelor’s degree in commerce education or any other relevant education stream with 50% or more passing marks. However, applicants who have passed 10+2 in commerce are also eligible for tax accounting courses.

List of Top Institutes Offering Taxation and Accounting Courses Online and Offline

1. IIM Skills

IIM Skills is a leading and renowned institution in India, offering various professional courses online. One of the tax accounting classes online is an excellent business accounting and taxation offered by IIM skills. Courses designed at IIM Skills are related to in-demand industrial skills and cover fundamental and advanced topics.

It has trained more than twenty-five thousand students and provided global placement assistance to them. Their job-oriented program is made for students, professionals, new job seekers, homemakers, and work-from-home professionals. Business accounting and taxation is an intensive curriculum to give you extensive knowledge and simplify the complex operations and activities of the financial industry. It is divided into six modules and covers essential topics.

Course Name: Business Accounting and Taxation Course

Duration: 3 Months

Course Curriculum

• Accounting and accounting fundamentals in tally
• Basics of GST and GST in tally
• Basics and computation of Tax Deducted at Source (TDS)
• Payroll with tally
• Advanced excel and MIS reporting

Tools Taught in Tax Accounting Classes Online

• Tally
• Advanced excel
• Quickbooks
• BUSY

IIM Skills ensures that the course offers time flexibility and provides free lifetime access to learning material, recorded classes, presentations, and other information. It has tie-ups with companies like IBM, HTC global services, Dell, Amazon, and other renowned market leaders. In addition, it has a placement cell that assists in getting your dream job.

Other Courses offered by IIM Skills

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

2. National Institute of Financial Market (NIFM)

NIFM conducts one of the best tax accounting classes online to develop your skills and strengthen your resumes. They offer both long-term and short-term courses and online as well as offline classes. They offer a variety of courses on the stock market, fundamental analysis, share market, forex market, etc. All of their courses are related to the financial sector.

Course Name: Diploma in Business Accounting and Taxation

Duration: 6 months

To attend the live tax accounting classes online, a person should have a 10+2 qualification or graduation in the relevant stream.

Course Curriculum

Module 1: Accountancy

• Accounting basics
• Bank reconciliation statements
• Depreciation
• Final accounts
• Sole proprietorship
• Partnership firm
• Goodwill and capital
• Debentures
• Forfeiture and reissue of shares
• Redemption of preference shares and others

Module 2: GST

• Overview of GST
• Accounts and audit
• Time place and value of supply
• Input tax credit
• Reverse charge mechanism
• GST registration
• Invoicing
• Penalties under GST
• Computation of GST
• Forms and annual returns, among others

Module 3: TDS and TCS

Module 4: Tally ERP 9 with GST

Module 5: Income tax

Module 6: Auditing

NIFM helps you understand the nooks and crannies of the financial market, whether you are a research analyst, marketing professional, or manager.

Recommended Read: Course in Finance Accounting and Taxation

3. National Institute of Management and Business Studies (NIMB)

The business accounting and taxation course offered by the national institute of management and business studies teach more about financial accounting and a company’s financial structure. In addition, it educates about the tax regime through tax accounting classes online as well as offline.

The Key Features of the Course Are:

• Live and classroom batch
• Industry recognized certificate
• Placement assistance
• Flexible schedule

Course Name: Business Accounting and Taxation

Duration: 2 months

The curriculum is formulated by industry experts having in-depth knowledge in business accounting and taxation. Course brochure is available on their website. They also offer a PG diploma in accounting and finance, a one-year certificate course requiring 10 + 2 exams, and math as one of their subjects. After completing this course, an individual can pursue a career as a tax accountant, assistant coach, account manager, and financial analyst.

4. EduPristine 

EduPristine is one of the best and oldest accounting and finance training providers and offers 24*7 online access to course material. With more than a decennium of experience, they have refined their training methods to create a well-planned career for their learners.

Features of Their Course

• Exam-oriented content
• Training by qualified professionals
• Mock test for pre-exam evaluation
• 24*7 dedicated discussion forums
• After course engagement (ACE)
• Soft skill training
• Customized career guidance
• Placement assistance
• Online learning solutions

Course Name: Postgraduate in Business Accounting and Taxation

Duration: minimum 5 months

Course Curriculum:

• Basics of accounting and accounting in tally
• Basics of GST
• Fundamentals of income tax and income tax in tally
• Payroll and its components
• Excel for accounting & MIS
• Finalization of financial statements
• BUSY practicals
• SAP
• Soft skills

Tax accounting classes online and other lectures are balanced between conceptual understanding and practical execution.

Tools You Will Learn

• SAP
• Tally
• BUSY software
• Advanced excel

Candidates with commerce as their study background are eligible for this course.

5. APG Learning

During the course, participants will have practical exposure to accounting and tax through tax accounting classes online. You will be updated with the latest knowledge of taxation, and get ready for a well-paid job.

Course Name: Certificate course in business accounting and taxation

Duration: 3 months (90 hours)

Course Curriculum

Module 1: Industrial Accounting

• History and introduction
• Principals and importance
• Basic concepts in accounting
• Types of accounts & double entry systems
• Account process – flow of transaction
• Finalization of accounts and various statements
• Chart of accounts
• List of accounting standards
• Examples & formats

Module 2: Tally 

• Introduction to tally and shortcuts
• Creation of company
• Creation of ledger and posting of vouchers
• Balance sheet and P/L A/c
• Example for practice

Module 3: Direct Taxation

• The income tax act, 1961
• Income heads
• ITR introduction and types
• TDS & Returns
• Demo example & formats

Module 4: Goods and Service Tax (GST)

• GST concept, meaning & types
• Registration for GST
• Types of GST returns
• Input tax credit mechanism
• Reverse charge mechanism
• Examples and formats to maintain GST

Module 5: Payroll & its Components

• Basic concepts of payroll
• Demo example and formats

Module 6: Excel and MIS

• Introduction to excel & shortcuts
• MIS concept
•  MIS reporting using excel
• Demo example and format

Module 7: Business Computer Application

• Hardware/software
• Pivot table/pivot chart
• Header and footer
• Main merge/MS-office
• Lookup, drafting & formatting

Also Read: Skills Required for an Accountant

6. Structured Learning Assistance (SLA) Consultant India

SLA consultant India is a decade-old IT and Non-IT training institute and offers one of the best business accounting and taxation courses. Their courses are designed according to corporate requirements and formulated by industry experts. The institute consists of a team of more than 50 certified trainers and offers 100% placement assistance.

Key Features of Attending Their Live Tax Accounting Classes Online

• Expert trainers
• Certification
• Job assistance
• Lab facility
• Workshop and live project
• After training support

Course Name: Advanced E-accounting and Taxation Course

Course Curriculum:

Module 1: Advanced goods & service tax practitioner course – by CA – (indirect tax)

Module 2 (Part- A): Advanced income tax practitioner certificate

Module 2 (Part- B): Advanced TDS

Module 3 (Part- A): Finalization of balance

Module 3 (Part- B): Banking & Finance

Module 4: Customs/Import and export procedure

Module 5 (Part- A): Advanced tally ERP 9 & Prime

Module 5 (Part- B): Tally prime & ERP 9 with GST compliance

Module 6: Financial reporting – Advanced excel & MIS for accounts & finance

Module 7: Advanced SAP FICO certification

The accounting and taxation certification is provided after assessing your skills, and the certificate is industry-recognized, which helps freshers and experienced professionals. In addition, they offer a variety of workshops for the implementation of your skills in real-time projects.

7. Udemy

Udemy offers a plethora of courses in various disciplines and is one of the renowned ed-tech sectors. For example, the tax accounting classes online are easy to understand and taught by an award-winning professor. In addition, the course comes with lifetime access to course materials and class recordings, five downloadable resources, and a certificate of completion.

Course Name: Tax Accounting

Duration: 2 hours

Course Curriculum

• Tax formula, exemptions, filing status
• Introduction to tax law
• the procedure of the tax law
• Gross income
• Deductions
• Business, investment, and passive activity losses
• Itemized deductions
• Gains and losses (Capital assets)

The course is accessible on different devices like mobiles, laptops, and TV. In addition, the completion certificate will enhance your resume and portfolio.

Recommended Read: Business Accounting and Taxation Course Colleges

8. Keerti institute 

Keerti Institute is an initiative of keerti knowledge and skills ltd., and conducts training programs formulated by industry experts according to modern global industry. They offer one of the best business accounting and taxation courses designed to bestow finance and tax sectors knowledge.

Key Features:

• Experienced faculties
• Unique methodology
• Recognized certificate
• Outstanding placements

Course Name: Financial Accounting and Taxation

Duration: 6 months

Course Curriculum

• MS Office tools
• Advanced excel
• Banking
• Financial services
• Business accounting
• Insurance
• Investment
• Direct tax
• Income tax
• Quick books
• MCA & IND AS
• Costing and auditing
• TDS
• Soft skills and personality development
• Indirect tax – GST
• Tally prime basics
• Tally prime with advanced accounting
• Tally prime with advanced inventory
• Tally prime with banking
• Tally prime with GST
• Tally prime with tax deducted at source
• Tally prime with job costing
• Tally prime with job works
• Tally prime with MIS report
• Tally prime with payroll

Keerti Institute offers intensive business accounting and taxation courses to help you make a career as a senior finance executive, financial analyst, tax executive, senior accounts executive, assistant manager- account and finance, and commercial manager.

9. City Commerce Academy

The academy was established in 1999 and has become one of India’s most reliable business accounting and taxation courses. You can learn from a renowned and the most reputed trainer. One can select from a variety of short courses or all courses that cover business accounting and taxation as a whole. You can become an accounting and taxation expert with or without commerce as your education background.

Course 1: Business accounting

It covers the following topics:

• Basic concepts
• Accounting theories
• Journal entries
• Role of work structure
• Use of double entry system
• journal entries

Course 2: Accounts Expert

It covers the following topics:

• Manual accounts
• Computerized account
• Tally ERP 9
• Inventory accounting
• Reconciliation
• Balance sheet
• Reports and MIS
• Debit note and credit note
• Imprest accounting

Course 3: Taxation Expert

It covers the following topics:

• Indirect tax before GST
• Goods and service tax (GST)
• Income tax: concepts and returns
• Tax deduction and collection at source
• Employees provident fund
• Employee state insurance
• Payrolls

Course 4: Accounts and Tax Expert (All in one)

It covers the following topics:

• Business accounting
• Accounts expert
• Taxation expert
• Other short courses include GST, Income tax, TDS, Payrolls

The course is specially designed to enhance the knowledge of freshers and individuals with B. Com, M. Com, MBA, CA, ICWA, CS, Businessperson, and accounts professionals.

Here is  Guide to Cost Management Accounting

10. Henry Harvin

Henry Harvin offers a ‘9 in 1’ program with a training course, hallmark certificate, 10+ projects, internship, personalized job support, hackathons, boot camps, e-learning access, and gold membership. It ranks among the top 500 Global Edtech companies with 300,000+ alumni and 200+ courses.

Course Name: Business Accounting and Taxation

Duration: 172 hours

The tax accounting classes online and offline conducted by Henry Harvin are earmarked for professionals building a thriving career in tax accounting. After completing the course, you will get the completion certificate (CATP) which will boost your resume.

Course Curriculum

• GST practitioner course
• Income tax course
• Financial statement analysis
• Advanced tally ERP 9
• Advanced Excel
• HR payroll management
• Soft skill development
• Resume writing

Learning Benefits

• Learn basics of accounting and taxation
• Training on GST and indirect taxation
• Understand TDS & TCS
• Learn income tax and business income
• Develop financial strategies
• Learn the concepts of litigation management

FAQs

1.      Why should you become a tax accountant?

A tax career has a plethora of opportunities for individuals and it is a challenge where you can use qualitative and quantitative skills. Every business and individual needs to file taxes and that too correctly amid all their other works. They need people like you to complete their tax filing with minimum hassle.

2.   What are the eligibility criteria to enroll in a tax accounting course?

Individuals with commerce as their background are preferable, however, there are some institutes that offer courses regardless of your study background.

3.      What is the difference between financial accounting and tax accounting?

Financial accounting focuses on accounting analysis, summary, and reporting of the financial transaction of a business. Whereas, tax accounting focuses on tax and tax returns and their accounting.