Top 5 Prominent Tax Accounting Courses Online

Do you have a core interest in accounting and would love to learn more? Are you a homemaker, a working professional, or a student or would love to teach at the university level (lectureship) and have no time to go to college? Then we have good news for you. Do you know that you can also earn your Tax accounting courses online without going to college? Will the layout work for you?”. Don’t worry, education has changed drastically due to the pandemic. With the rise of online classes, teaching is done remotely and on digital platforms. In this article, we will help you find the best tax accounting courses online. This course will not only help you with the skills that you require but will also promote your career growth. But before we jump into the tax accounting courses online, let’s go through some questions you may have in mind. 

What is Tax Accounting?

Tax accounting falls under a subcategory of accounting. It helps companies, people, and businesses prepare and file accurate tax returns that comply with all legal requirements. They also help clients increase their savings and avoid penalties. In short, it deals with:

·   Taxes

·   Tax Preparation

·   Tax Returns

·   Tax Payments

·   Public Policy

·   Revenue Management

They are often busy during the tax season which is from Jan. 1-April 15. This course is a wonderful choice for people who would like to work in the government or private sector.

There Are 3 Types of Tax Accounting

Individual Tax Accounting: This is for individuals that pay taxes. This includes the salary, investments, another source of income, losses, loans, deductions, etc. It’s anything that needs to be documented under the tax.  

Business Tax Accounting: This is for corporations such as businesses and companies, and it’s legally crucial as transparency outflows are tracked in a more complex manner. Due to the size of the company, tax accountants are hired to keep track of anything where funds are invested in the corporation. 

Tax-Exempt Organization: Regardless of whether or not a company or business is exempt from paying taxes, it is required to file annual returns. This includes incoming donations, funds invested, how funds are used, etc. This is to ensure that it complies with all tax-exempt organization laws and regulations. 

Salary Scope After-Tax Accounting Courses Online

It varies depending on location, work experience, and education. Let’s get a bit into details about this.

Location: Location is one of the factors that play an important role. In India, the salary ranges from Rs 1.2 Lakhs to Rs 12.0 Lakhs and sometimes beyond that. In Canada, it is $60,000 per year or $30.77 per hour. In the US it varies from $41,549 to $109,080. This too depends on the State they are working in. Metropolitan areas like Salinas, New York, Midland, San Jose, and San Francisco pay the highest salary.

Work Experience: Work experience is also one of the key factors depending on the employer that you are working for. Let’s consider this in two different sectors. government and private sectors.

Government: In India, the average salary is around 3.5 lakhs per year with other allowances. In the US, the average salary starts at $10,860 and goes up to $289,951 and averages around $48,609/year with experience. In the UK, an average salary starts at £20,000 to £35,000. Once you’re qualified, you can expect this to rise to between £35,000 and £50,000 and above.

Private Sector: The average salary of a beginner is anywhere between Rs 1.3 lakhs and Rs 7.0 lakhs with experience. In the UK, an annual salary is £26,000 to £36,000, rising to £55,000 with experience. In the US, the starting salary starts at $51,000 and goes beyond $64,000 as per experience.

Please note: Tax accountants have numerous opportunities for success in their careers, including promotions, career growth, management positions, and higher income. They also grow to become top executives and financial managers of corporations, it includes financial vice presidents, treasurers, controllers, and chief financial officers.

Education: 

A candidate must have a bachelor’s or master’s degree in accounting or a related subject. A certified public accountant (CPA) exam after graduation will help a candidate stand out from the crowd and expand job opportunities as a tax accountant, which can likely boost your annual income. You can also choose to get a diploma in taxation.  

Graduation:

If you want to hold a bachelor’s degree, then you must pass your 10+2 exams with a score of 50% or 60% in any stream managed by a recognized board or university. You can then pursue B.Com which specializes in taxation and is a 3-year course.

Post-Graduation:

You should be a graduate of B. Com with a minimum grade point average of-50–60%. After that, you can apply for the Post-Graduation in Tax Accounting Programme, which is a 2-year course. 

Diploma:

The candidate must be a graduate in commerce or law from a recognized institution/university. This is a one-year program that covers different theoretical and practical knowledge of taxes, financial accounting, income tax, auditing, and accounting management. The course is available in private or government universities. You can also check Tax accounting courses online. 

Entrance Exams:

Some universities/institutions provide direct admission based on merit, while others require candidates to take entrance examinations to evaluate their skills in several areas.

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Why Choose Taxation as a Career?

Every financial year, people around the world, from salaried people to businessmen, pay taxes. Taxes are unavoidable. This is where a tax accountant comes into the picture. They are experts who do all the calculations, and paperwork and file it simply before the deadline. These are a few reasons why you should choose tax accounting as a career. 

Career Growth: A career in tax accounting can be both demanding and rewarding. They offer a secure professional path, and your career will have plenty of opportunities to grow as you gain experience and acquire new skills. It can also set you up for promotions and senior roles.

Salaries are Outstanding: Who doesn’t want to work in a career that pays well? A job in taxation can draw big pay. Your pay may not be appealing when you start as a trainee, but with a few years of experience, you can undoubtedly earn a lot of money. 

Global Opportunities: Tax careers might lead to overseas travel opportunities. International placements are becoming more common in the tax profession. Many of the employees have got an opportunity through their firm/employers to work across the world, including the USA, UK, Dubai, Hong Kong, etc. Isn’t that the dream of every professional? 

It’s challenging: Taxation is one of the few professions that offer new difficulties every day because you will be working with new clients daily. It’s also difficult because it requires a thorough understanding of rules and regulations that keeps changing. Every day will be a new learning experience.

If you think that you are good at numbers, then this career will not only help you overcome challenges but will also encourage you to use logic and tax knowledge to tackle challenging problems.

Demand: Despite the rise of AI and automation, it is one of the fastest-growing occupations in the world. They are highly in demand because they offer the company’s future earnings. You can also get to work with some of the big companies in the world like Deloitte., PwC, EY (Ernst & Young), KPMG, etc, or with tax consultancy firms, government departments, financial institutions, etc.

Also, Check the Skills Required for an Accountant

Why Are Tax Accounting Services Important?

The main purpose of tax accounting is to monitor funds linked with individuals and corporations (both inbound and outbound) as the implication of their funds is required to be transparent, legal, and useful to the company. Listed below are some of the main reasons why this service is important.

Avoid being questioned: One of the major reasons you need tax accounting services is to prevent having the firm audited by the tax department. Most firms make errors while evaluating their returns, which results in auditing. This is where the tax accounting team helps to prevent further errors. They will help with the tax filings and also calculate the profits.  

Make the Most of Tax Deductions: All business owners wish to increase their profits while reducing their expenses and payments. You can achieve this by hiring a professional accountant. They can tell you where you can save money. Furthermore, they do this throughout the financial year so that you can quickly figure your overall tax deductions at the end of the year. This allows you to properly calculate your total payments, decreasing the amount of tax you must pay.

Common Job Titles

• An income tax accountant
• Income tax specialist
• Tax advisor
• Tax consultant 

If this sounds appealing to you and you want to pursue a career as a tax accountant, please check out the below Tax accounting courses online that can help you build your future. 

Top 5 Prominent Tax Accounting Courses Online

1. IIM Skills

IIM Skills is one of the leading institutes that provides Tax accounting courses online for people from various backgrounds to gather excellent work opportunities. Their business accounting and taxation course (BAT) is a great program that will teach you everything you need to know about BAT. The course will help students to understand the financial industry’s operations and activities, preparing them to tackle obstacles with confidence in challenging situations, no matter how difficult they may be.

Course Title: Business Accounting and Taxation Course

Eligibility: Bachelor’s degree in finance or any equivalent degree from a recognized university. Basic knowledge of computers as well as communication skills, both written and verbal.

Course Duration: 3 Months

Syllabus

• Accounting Fundamentals And Accounting In Tally
• Basics Of GST
• GST In Tally
• The Basics of Tax Deducted At Source (TDS)
• Computation of TDS
• Payroll With Tally
• Income Tax
• Advanced Excel and MIS Reporting

Why should you pick IIM Skills?

Lifetime Validity: While most institutes provide a limited term of course material validity, they also offer a lifetime course material validity and live online training. If there are any updates or changes, they update their curriculum, and it is valid for life, so you always have the most up-to-date material.

Professional Teachers: The learning technique is flawless, as it is led by knowledgeable finance professionals with years of experience developing their talents and establishing themselves as respected names in the field.

Recorded Session: They record the sessions so that if you miss a lecture, you may access the recordings any time from any location and on any device to stay up-to-date. It is compatible with Android, Windows, Mac, and IOS and may be viewed on a mobile, laptop, or iPad.

Job: Once you have completed the course, you will be able to apply for major job profiles in the finance and tax industries. The course successfully bridges the gap between the demand for taxation and accounting professionals.

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2. The Institute of Professional Accountants

The Institute of Professional Accountants (IPA) offers Tax accounting courses online where students can learn about income tax and GST applications. It is a government-approved institute with expert CA tax professors from the tax industry. IPA is dedicated to providing practical training with soft skills and a 100% placement guarantee with a recognized diploma certificate. They provide online classes with the help of the latest technology.

They Provide the Below Courses

1. Diploma in Accounting Finance Taxation

•   Mode: Online and Offline
•  Course Duration: 250+ hours of practical training (12 months) 

What You Get to Learn

• Basic Computer Course
• Manual of Financial Accounting
• Computerized accounting software.
• Income Tax
• Provident fund /labor laws
• Live Industrial Projects
• E-Commerce, Banking
• ROC “Registrar of Companies”
• Auditing
• Capital Market & share trading
• Office Management /(MIS)
• GST (Goods & Service Tax). 

2. Diploma in E-Accounting, Finance Taxation, Banking, and E- Taxation Payroll

• Mode: Online and Offline
• Course Duration: 300+ hours of practical training (15 months) 

What You Get to Learn

• Basic Computer Course
• Manual of Financial Accounting
• Computerized Accounting Software
• Income Tax
• Provident fund /labor laws
• Auditing
• Live Industrial Projects
• E-Commerce, Banking
• ROC “Registrar of Companies”
• Advance MS Excel 
• Capital Market & share trading
• SAP FICO
• GST (Goods & Service Tax) 

3. Diploma in E- Taxation

• Mode: Offline and Online
• Course Duration: 60+ hours of practical training (3 months)   

What You Get to Learn

• Income Tax
• Scope and Review of GST (Goods and Service Tax) 

4. Diploma in Accounting Finance Taxation and Banking

• Mode: Offline and Online                                                        
• Course Duration: 350+ hours of practical training (18 months)  

What You Get to Learn

• Basic Computer Course
• Computerized Accounting Software
• Income Tax
• Manual Financial Accounting Auditing
• Provident fund /labor laws
• Live Industrial Projects
• E-Commerce, Banking
• ROC “Registrar of Companies”
• Advance MS Excel
• Capital Market and share trading.
• Office Management /(MIS) 
• SAP FICO
• GST (Goods and Service Tax).
• Personality Development/ English Speaking 

Course Eligibility

• Any Graduates or Post Graduates or LLB
• 12th pass in any discipline
• Financial Advisors
• Working Professionals

Key Features

• Classroom and Live Training
• Flexible schedule
• 100% Practical Oriented
• Online Assessment
• Recognized Diploma Certification

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 3. NIFM (National Institute of Financial Markets)

NIFM is another institute that provides Tax accounting courses online. Due to its systematically organized educational program in accounting and business taxation, NIFM is one of the most well-known instructive organizations in India, with 15 centers.

They are a private vocational training institute that offers both long and short-term job-oriented professional courses, as well as both offline and online sessions. They specialize in courses like accounting, financial markets, & stock market segments.

They also offer short-term crash courses on the stock market, share market, derivatives market, commodities market, forex market, technical analysis, fundamental analysis, futures & options, options strategy, research analyst, Mutual funds, the insurance industry, the banking industry, and tax-saving tools, etc. from basic to advanced. 

Courses:

1. Advance Diploma in Financial Accounting & Business Taxation 

Get Working Experience on Software like 

• Tally ERP 9 with GST.
• Java Utility by Government Schema (Income Tax)
• Govt utility for TDS & TCS
• Govt utility for GST  

2. The Diploma in Financial Accounting & Business Taxation (DFABT) 

What Do You Get?

• From NIFM, the Diploma in Financial Accounting Certification is issued
• Practical Industrial Training
• Complete hands-on experience with Tally ERP9.
• Computerized Entry and Finalise Reports.
• E-filing of GST with Automation of Periodical Filling.
• E-filing of TDS / TCS
• Generate Challan 281,
• online filing 
• Personality development for interviews
• Get assistance when something new arrives in the market. 

Get Working Experience on Software:

• Tally ERP 9 with GST.
• Java Utility by Government Schema (Income Tax)
• Govt utility for TDS and TCS
• Govt utility for GST 

3. Diploma in Taxation 

What Do You Get?

• NIFM certification for Diploma in Taxation
• Practical Industrial Training
• Complete hands-on experience with government utilities for taxation
• E-filing of GST with Automation of Periodical Filling.
• E-filing of TDS / TCS 
• generating Challan 281
• online filing
• Personality development for interviews
• Future assistance when something new comes on the market
• Assistance in finding work as a freelancer
• Assistance in starting a business as an income tax professional 

4. Diploma in Taxation Covers Income Tax, TDS/TCS, and GST Complete Course with E-Filing of Return 

What Do You Get?

• NIFM GST Professional Certification
• Professional behavior and adherence to laws and regulations
• Practical Industrial Training
• Complete hands-on experience with GST
• Computerized Entry and Finalise Reports.
• E–Filling of GST with Automation of Periodical Filling.
• Personality development for interviews
• Get assistance in the future when something new comes out on the market.
• Get support in finding work as a freelancer.
• Get assistance in starting a business as an accounting & income tax professional with 100% Industry point of View Practical Training that will help you in a Corporate World

Get Working Experience on:

•  Government GST Portal
•  How to calculate GST,
• how to deposit GST,
• how to file GST return

5. Certified Accounts Professional (CAP) 

What Do You Get?

• NIFM Financial Accounting Certification
• compliance with laws and regulations
• Practical Industrial Training
• Complete hands-on experience with Tally ERP9.
• Computerized Entry and Finalise Reports.
• E – Filling of GST with tally.
• E- Filing of TDS /
• Get support in the future when something new comes out on the market 
• Get help finding work as a freelancer.
• Get help starting a business as an accounting and income tax professional 

Get Working Experience on Software:

• Tally ERP 9 with GST.
• Java Utility by Government Schema (Income Tax) 

Course Eligibility 

• Students
• Undergraduates
• Graduates
• Working Professionals 
• Entrepreneur
• Business Man
• Housewife
• Freelancers
• Professionals 

Why choose NIFM:  This is the perfect institute for you if you wish to work in broking houses, financial institutions, insurance companies, mutual fund houses, research businesses, or the banking sector as a broker or sub-broker, or as an investor or trader. They also provide placements in different companies.

4. Gurukul Mantra

 They have Tax accounting courses online and also provide 24/7 access to the student portal where they can get lifetime access to the training material. After completion of the course, an authentic certificate is issued by Gurukul Mantra and Himalayiya University. They also have some of their Branches which are in Thane, Pune, Delhi, Bangalore, and other major cities too.

Course Name: Certification Course for Accounting and Taxation

Course Duration: 90 days. 

Courses: Financial accounting: 10 lectures that include

• Account Concept
• Concepts of accounting standards
• Business Journal entries
• Bank Reconciliation
• Depreciation overview
• Books Finalization
• Understanding P/L, Balance Sheet & Audit Report
• Hands-on training on Tally & Quickbooks

Why choose this university: They have both online and offline batches (offline batches are available at Thane & Najafgarh, Delhi locations). If you have financial issues then they have a part payment as well as EMI. This is available for all courses. They have lifetime access to the student portal. It’s also an ISO 9001:2015 Certified Company, which adds authenticity to your certificates.

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 5. Udemy 

Udemy has a broad selection of courses. There are around 185,000 online video courses, with new additions published every month. There is a wide range of taxation courses to cater to the needs of aspiring accounting professionals. Below are the details of one of the Tax accounting courses online provided by Udemy.

Course Name: Direct Taxation in India

Course Duration: 25.5 hours of demand video

Course Eligibility: BCom/MCom/CA/CS/CMA.

Modules: Direct taxation, Total Income, 5 Heads on Income, Aggregation, Deductions, Computations, Advance Tax, TDS and Return Filing. 

Why choose Udemy: 

It has over 65,000 unique courses on its platform, of which one-third are free. Their courses cover a wide range of subjects, including programming, development, business, design, and so on. They have a reasonable price with discounts.

FAQs

1) Is tax accounting hard?

With new technology in place, getting a degree or a diploma has become much easier. Just like other subjects, you may face some difficulties at the beginning with the concepts and rules of accounting but will find it easier as you keep practicing.

2) Is taxation a good career?

A position in taxation will allow you to earn a good salary. The pay may not be decent when you first start your work as a trainee. This happens in every field. But once you have some years of experience, your package will be a lot more than you expected. There is also a chance for a hike in position.

3) What is the fee for tax accounting courses online in India?

Tax accounting courses online fees vary as per the course that you take (diploma/degree).

4) Is learning Tax accounting courses online equal to going to college?

Due to the pandemic issue, online classes have become a must for leering platforms. Hence, learning Tax accounting courses online is equal to attending any class physically.

Conclusion:

If you enjoy doing calculations and would love to learn more, taking home-based tax accounting courses online is the best way to enhance your skills. Learning will be difficult at first, but as you gain more experience, it will become easier to understand. Keep in mind that you will gain a lot of knowledge about taxes as well as a job in a reputable organization. This is one of those jobs where you can improve your focus every day while also progressing in your career as you gain experience.