MCom Taxation is a 2-year postgraduate study of topics related to the field of Taxation as well as Finance. The main structure of this course includes solving taxation problems, researching in tax literature and complete analytical reviews of tax returns. In MCom Taxation studies, students are made to explore the ethical and legal obligations that must be followed in the system of taxation.
The minimum eligibility criteria for candidates to get admission in MCom Taxation is to be a holder of a BCom Degree with a minimum of 50% marks from a recognized university. Entrance Exams accepted for MCom Taxation Courses admissions are CUCET, DUET, BHU PET, AUCET etc. Some universities also conduct Personal Interview (PI round) of shortlisted candidates based on their entrance scores.
To acquire admission in Top MCom Taxation Colleges in India that offer the course such as LNCT Bhopal, CSMU Navi Mumbai, SGU Kolhapur, MRU Hyderabad, Meredian College Mangalore etc., you must have a good academic profile along with a good performance certificate in relevant entrance exams and interviews. The average course fee structure for MCom Taxation courses ranges between INR 12,000 and INR 4,00,000.
Post-completing MCom Taxation course, there are a lot of job opportunities for candidates such as Chief Financial Officer, Audit Manager, Revenue Agent, Tax Collector etc. in top recruiting companies such as Genpact, Tata Consultancy Services Limited, WNS Global Services, Wipro Technologies, etc. The average salary offered to these professionals ranges from INR 4,00,000 to INR 20,00,000 per annum.
2.1 Eligibility
2.2 Admission 2023
2.4 Important Dates
3.1 Subjects
- MCom Taxation Distance Education
- Top MCom Taxation Colleges in India
- Top MCom Taxation Colleges in Abroad
- MCom Taxation Scope
- MCom Taxation Jobs and Salary
9.1 Top Recruiters
9.2 Top Job Profiles
All About MCom Taxation
The course M. Com in Taxation is designed to provide advanced learning in concepts and processes of Federal, State and Local taxes for eligible students.
The course also deals in imparting knowledge to the students in the provision of tax advice for individuals and organizations which need it.
The course, thus, in a nutshell, aims to prepare eligible students to serve and contribute to the Indian Revenue Service (IRS), State Departments of Revenue and such.
- As may be known by most earning citizens of any nation, taxation is a government system mechanism or system that exists to collect money from citizens that earn taxable income to pay for various public services like public parks, roads, libraries, public transport, etc.
- There are mainly two types of taxes, direct taxes and indirect taxes. Income tax, corporation tax, etc. are paid directly by the taxpayers to the government and so is termed as a direct tax. Indirect taxes are those that are intermediately paid to the government. They are applicable on several goods and services which go by names like sales tax, service tax, etc.
- Some auditors perform audits for different individuals or organizations to check if there are any inconsistencies or discrepancies or if there is any financial deceit and any moves to avoid paying taxes. The course MCom Taxation thus exists to shape good auditors and similar professionals that can work for government institutions or else for several organizations.
The taxation system plays a very important part in the functioning of society and forms a very important part of the government coffers. The MCom Taxation course mainly aims in familiarizing the candidates with:
- Several ethical problems surround the taxation system.
- How the system of taxation works with national and global economies.
- Different concepts related to taxes and the system of taxation like estate taxation and planning, financial reporting, property taxation, sales tax and deferred compensation.
- Several details regarding accounting methods, corporation taxations, foreign transactions, cost management, etc.
Some of the important fields that come under the subject include Management Accounting, Budget Analysis, Public Accounting, Real Estate Finance, etc. A student who chose MCom Taxation as their main subject for post-graduation is taught to develop measurement and communication of information skills.
Read More About: Taxation Courses
Why Study MCom Taxation?
- If you are a BCom graduate who is unsure of which subject to take for MCom, Master of Commerce in taxation is a very good choice. Taking MCom taxation as your course for post-graduation offers a great syllabus which would seem very interesting for any passionate student.
- Moreover, the job opportunities for a graduate in MCom Taxation is huge and offers desirable pay scales. This Master of Commerce postgraduate course is the best to prepare students to acquire professional qualifications in taxation, finance and accounting.
- The course is the best to give the students a solid base in the field of taxation, accounting and finance, the dream of any passionate BCom graduate. A good base and knowledge in these fields also help students acquire the qualities of leadership and managerial roles in the financial sector.
- A student who took MCom Taxation as their main subject for post-graduation can get a thorough knowledge about the latest tax concepts, practices and laws. The field of finance, accounting and taxation are something that demands analytical and communicational skills and this post-graduation course helps the students develop these skills well, thus preparing them for a promising future.
- As mentioned earlier, the job opportunities for a post-graduate in MCom Taxation are amazing. There are jobs available in both public and private sectors including business offices, Taxation Department, Public Relation Office, Marketing Companies, Investment Companies, Banking Sector, etc.
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The most relevant posts in which MCom Taxation postgraduates are hired includes Investment Analyst, marketing manager, Market Analyst, Investment Banker, Operation Manage, Personal Finance Consultant, Securities Analyst, Money Manager, Senior Accountant, Financial Analyst, etc. The colleges offering this course also hire teachers, which will be a budding opportunity for those who are passionate about teaching and the subject.
Know All About: Certificate in Taxation Courses
MCom Taxation Admission
- Most colleges that offer the course, MCom in Taxation, select the students through an admission process that involves entrance examination.
- The entrance examination in most cases is followed by rounds of group discussions and interviews.
- The assessment of each candidate will be based on how they performed in each round and the best candidates will be calculated and given admission to the respective colleges.
- Some colleges do not follow the system of entrance examination. Such colleges give admission based on the merits of the applications.
-
Top scorers with good merit in under graduation stand the highest chance in such a situation.
Eligibility
- The most important criteria to apply for MCom Taxation in Indian institutes and colleges is that the applicant should be a BCom graduate.
- Most colleges demand that the applicant must have completed graduation in BCom degree with a minimum of 50% marks in aggregate.
- The BCom Graduates must also have good knowledge in subjects like Economics, Maths, Accounts, etc. as their main subjects of study.
- Candidates under the reserved category are entitled to marks relaxation of up to 5%.
-
There marks relaxation provided to students by State Universities who are native to the state.
In recent years, most institutions and colleges have started using the system of entrance examinations in their admission procedure for post-graduation. So, preparing and cracking the entrance exam with the highest score possible is the next eligibility criteria for most colleges now for a student.
Check Out: BCom Taxation Courses
Admission 2023
- A lot of colleges across India offer MCom Taxation and have started their admissions now for the academic year 2023.
- Most of them demand the applicants to have the minimum passing marks set by them in their respective entrance examinations to be eligible for admission in their colleges.
- Among the many colleges, here is a list of some colleges that follow an entrance-based admission system.
| 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 | |
If you prefer merit-based admission for the course MCom Taxation, here is a list of some colleges that follow the system of merit-based admissions with no entrance examinations for this course.
| College Name | Average Fees |
|---|---|
| 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 |
The eligibility requirement may vary from college to college. The merit aggregate required by students to get admission to the course MCom Taxation in these colleges differs for each college and it can also vary according to the reserved seats.
Entrance Examinations
- Most colleges recently made it compulsory for undergraduate students to pass relevant entrance examinations to get admission for postgraduate courses. The case is not different to getting admission for the course, MCom Taxation in top-rated colleges.
- The entrance examination is a filtering system that helps in finding the potential candidates among many applicants.
- The most common and popular entrance examinations for MCom Taxation in India include DUET, OUCET, SKUCET, AUCET, etc. Most of these entrance examinations are not conducted in an online mood due to the current persisting situation of the pandemic.
- However, some universities like Delhi University still do the entrance examinations in online mode.The entrance examinations usually have at least two rounds. The first one is the written round that helps in analysing the candidates’ knowledge in the subject and how well they will attend the examination within the allotted time.
- A cut-off mark will be set for the written round and the candidates who scored above the cut-off marks are called for the next round, which is the interview. Most candidates who made it to this round are guaranteed admission to the course of MCom Taxation in the respective colleges.
Find More About: BCom Taxation Colleges
Entrance Exam Dates
Some of the important entrance examinations and their dates for the application period and exam dates are :
| Exam Name | Last Date to Apply | Exam Date |
|---|---|---|
| CUET |
February 9, 2023 – 4th week of March 2023 |
May 21 – 31, 2023 Reserved date: June 1 –7, 2023 |
| IPU CET | March 2023 – April 2023 | April 2023 |
| NPAT | December 01, 2022 – May 21, 2023 | January 04, 2023 – May 31, 2023 |
| AIMA UGAT | January 31, 2023 – March 31, 2023 | May 6, 2023 |
Entrance Exam Preparation Tips
- The most important tip for preparing for any MCom Taxation Entrance Examination is to start preparing at least months before the exam.
- Starting to prepare 10 days or a week before the examination can do no good as you won’t be able to cover all the important topics needed to successfully pass the entrance exams.
- Plan and prepare a timetable to study and cover the important topics. A book you can refer to while preparing for MCom Taxation Entrance Examination is R. Gupta’s Delhi University MCom Entrance Test Book which study’s portions from class 12 and B. Com.
- The subjects dealt with in the book will be enough to cover the scope of the syllabus of MCom Taxation entrance examination. MCom Taxation exams are said to be relatively easier than other competitive exams.
- The main idea behind MCom Taxation Entrance examinations for admissions is to know how much each candidate knows about Commerce and its related subject. So, any passionate BCom graduates who know the subjects well can do well in the entrance examinations.
Read More About: BCom Taxation and Finance
MCom Taxation Syllabus
MCom Taxation syllabus mainly deals with the several concepts of taxation and tax and the ethical issues that surround it. The syllabus makes sure that the students are completely aware of how the system works and also helps in developing communication and leadership skills which are key to all the jobs related to this field.
MCom Taxation Subjects
A detailed and semester-wise breakdown of the syllabus and subjects that are followed in most colleges is given below.
| Semester I |
|---|
| Law of Direct Taxes and Practices - Income Tax Paper I and Paper II |
| Basic Concepts, Definitions and Charge of Income Tax Act (Section 1 to 4) |
| Scope of total income and Residential Status (Section 5 to 9) |
| Income from Salaries and House Property (Section 15 to 27) |
| 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 |
| Law of Direct Taxes and Practices - Income Tax Paper III and IV |
| Advance Payment of Tax (Section 207 to 219) |
| Return of Income and Assessment (Section 139 to 158) |
| 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 Central Excise Act |
| Service Tax, Payment of service tax and registration (Section 68 & 69) |
| Central Sales Tax Act |
| Semester III |
| Law of Direct Taxes and Practices - Income Tax Paper V |
| Tax deduction and collection at source (Section 192 to 206C) |
| Interest and refund of excess payment |
| Appeals and Revisions (Section 246 to 264) |
| Penalties and Prosecutions (Section 270 to 280) |
| Assessment, Demands, Recovery and Refund |
| Adjudication, appellate and Revision provisions |
MCom Taxation Distance Education
Students who are unable to attend regular classes can do distance classes in MCom Taxation. However, before applying and taking admission to the Distance MCom Taxation course, one has to make sure that the course is accredited by the Distance Education Board (DEB) and UGC.
- The admissions to top institutes offering distance education in MCom Taxation is merit-based.
- The applicants who have a minimum aggregate of 50% in BCom are eligible to get admission.
- The applications are mostly provided online and all the following admission procedures will also be done in the same way.
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Here are some of the top colleges that offer Distance Education in MCom Taxation.
| College Name | Average Fees |
|---|---|
| IGNOU | INR 11,000 |
| Annamalai University | INR 7,000 |
| Acharya Nagarjuna University | INR 11,500 |
Top MCom Taxation Colleges in India
Some very good colleges across India offer the course, MCom Taxation. Here is a list of the top 20 colleges in India that offer MCom in Taxation.
| Ranking | College Name | Fees |
|---|---|---|
| NIRF Ranking: 101-150 band | Assam University, Silchar | INR 16,895 |
| NIRF Ranking: #115 out of 200 Outlook Ranking: #25 out of 50 | Rabindranath Tagore University (AISECT), Bhopal | INR 20,000 |
| NIL | D.A.V Velankar College of Commerce, Solapur | INR 4,365 |
| NIRF Ranking: #51 out of 100 Outlook Ranking: #13 out of 50 | Chandigarh University, Chandigarh | INR 60,000 |
| NIL | Chitransh A.D.P.G College, Bhopal | INR 6,500 |
| NIL | Chhatrapati Shivaji Maharaj University, Navi Mumbai | INR 56,100 |
| India Today Ranking: #101 out of 120 Outlook Ranking: #113 out of 124 | ICFAI University, Shillong | INR 60,000 |
| NIL | DR. C.V. Raman University, Khandwa | INR 15,000 |
| NIL | Sha-Shib College of Science and Management, Bhopal | INR 10,000 |
| NIL | Sanjay Ghodawat University, Kolhapur | INR 1,00,000 |
| NIL | Sri Sathya Sai College for Women, Bhopal | INR 17,100 |
| NIRF Ranking: 151-200 band | Avinashilingam University for Women, Tamil Nadu | INR 4,400 |
| India Today Ranking: #106 out of 120 Outlook Ranking: #118 out of 124 | Bhaktavatsalam Memorial College for Women, Chennai | INR 7,740 |
| NIL | Sree Sankara College, Kalady | INR 6050 |
| NIRF Ranking:101-150 band | Annamalai University, Tamil Nadu | INR 7,000 |
| NIRF Ranking: #100 out of 200 | Bangalore University, Bengaluru | INR 20,000 |
| 17th among the top 100 universities of the Indian Subcontinent | IGNOU | INR 7,000 |
| The Week Ranking: #28 out of 76 The Times of India Ranking: #45 out of 50 | University of Rajasthan, Jaipur | INR 20,000 |
| NIL | Shivaji University, Kolhapur | INR 10,000 |
| NIL | Smt. Champaben Balchand Shah Mahila Mahavidyalaya, Sangli | INR 20,000 |
Top MCom Taxation Colleges in Abroad
Studying MCom Taxation abroad is an amazing opportunity for students who are passionate about this field. There are a few top colleges abroad that offer MCom in Taxation. Here is a list of the best colleges that offer this course abroad.
| QS Ranking | College Name | Total Average Fees |
|---|---|---|
| #1 | Massachusetts Institute of Technology, Cambridge | INR 35,15,300 – INR 66,29,200 |
| #21 | University of Michigan, USA | INR 17,08,900 – INR 41,71,300 |
| #29 | University of Toronto, Canada | INR 11,71,600 – INR 34,46,800 |
| #38 | The University of Melbourne, Melbourne | INR 18,03,00 - INR 34,38,300 |
| #42 | The University of Sydney, Sydney | INR 15,66,400 – INR 24,47,500 |
| #75 | Western University, London | INR 3,53,300 – INR 60,72,500 |
| #106 | The University of Adelaide, Australia | INR 17,13,300 – INR 21,53,800 |
| #176 | University of Otago, New Zealand | INR 12,39,200 – INR 21,25,700 |
| #238 | RMIT University | INR 10,80,900 – INR 20,67,700 |
| #383 | Swinburne University of Technology, Melbourne | INR 3,35,400 – INR 18,40,600 |
MCom Taxation Scope
There are immense job opportunities for an MCom Taxation graduate. There are budding opportunities and job openings for a graduate in MCom in Taxation in both the private and public sectors.
- Opting for the teaching profession is also possible in colleges and universities that offer the course, MCom in Taxation.
- Some of the positions a person who graduated in MCom Taxation can get includes Accountant, Auditor, Tax Policy analyst, Employment Tax Specialist, Personal Finance Consultant, etc.
- Most business organizations and institutions hire taxation experts to help run their business ethically and well.
- Institutions that come under the government sector also employ MCom Taxation Graduates in Government Audits and similar institutions. MCom Taxation graduates also can make great IRS officials.
MCom Taxation Jobs and Salary
As mentioned above, the scope of MCom Taxation is huge as there are jobs available for taxation graduates in both the private and government sectors. Some jobs that an MCom Taxation can acquire include:
- Accountant
- Auditor
- Financial Analyst
- Marketing Manager
- Personal Financial Consultant
- Tax policy Analyst
- Employment Tax Specialist
- Tax Attorney Specialist
Not only are there such amazing job opportunities, the salary that an MCom Taxation graduate gets when he acquires a job is amazing. The average starting salary for students who completed the course is seen to be between INR 5,00,000 to INR 20,00,000 per annum.
Top Recruiters
Most colleges that offer MCom Taxation are approached by top recruiters at the time of placement every year. Here are some of the top companies and organizations that hire MCom Taxation graduates.
- Genpact
- Tata Consultancy Services Limited
- WNS Global Services
- Wipro Technologies Ltd.
- Tata Motors, Bharat Sanchar Nigam Limited (BSNL)
- National Small Industries Corporation Limited (NSIC)
- Heavy Engineering Corporation Limited (HEC Ltd)
Top Job Profiles
A detailed list of most of the jobs that an MCom Taxation graduate can acquire along with the respective job descriptions and average pay scale for each of them.
| Job Profile | Job Description | Average Pay Scale (per annum) |
|---|---|---|
| Certified Public Accountant | Prepares individuals’ taxes. Advise clients on different issues related to taxes and income. | INR 4,00,000 to INR 9,00,000 |
| Financial Advisors | Assessing client’s or employer’s financial needs and giving different advice regarding them. Helps to plan different goals of the clients like expenditure, business matters, investments, insurance policies, etc. | INR 6,00,000 to INR 9,00,000 |
| Directors (Accounts) | Overlooks the overall growth and the development of the accounts in their team. | INR 5,00,000 to INR 19,00,000 |
| Chief Financial Officer | Responsible for the finances of a corporation or organization. Responsible for reviewing financial risks and creating business plans. Responsible for keeping financial records. | INR 10,00,000 to INR 20,00,000 |
| Tax Collector | Delivering a full range of tax services by following laws and regulations within a set time limit. Works together with the clients to plan taxes and review complex income tax returns. | INR 11,00,000 to INR 13,00,000 |
| Tax Examiner | Deals with tax returns that are filed by individuals and small businesses, at the municipal, state or federal levels. | INR 8,00,000 to INR 10,00,000 |
| Revenue Agent | Responsible for ensuring that the federal, state and local governments are collecting taxes from businesses and individuals. | INR 6,00,000 to INR 8,00,000 |
| Audit Manager | Functions to organize and oversee internal audits according to the annual audit plan. Manage a team of auditors | INR 10,00,000 to INR 12,00,000 |
Skills Required in MCom Taxation Courses
BCom Graduates who are aspiring to pursue their higher studies in MCom Taxation must have relevant taxation skills to enhance the skills further to grow in the field. Here are some taxation skills that the aspirants must possess to flourish in the field of taxation.
| Skill to explain complex concepts and regulations in the taxation system | Problem-solving Skills | Basic Mathematical Skills |
| Time Management | General Commercial Awareness and Knowledge of the Latest Updates that happen in the field | Punctuality |
MCom Taxation FAQs
1) Is there an age limit to apply for MCom Taxation in any college that offers the course?
Ans. There is no such age limit to apply for MCom Taxation in any colleges that offer the course. However, the aspiring candidates must be a BCom graduate. with an aggregate of at least 50% marks to apply for the course in any college across the country.
2) Is it mandatory to be an MCom Taxation graduate, to get a job in taxation?
Ans. It is not mandatory to have a degree in MCom Taxation to get a taxation job. However, one should at least have a BCom degree in taxation to get a taxation job and to widen the career prospect, having the post-graduation degree will come in handy.
3) How much salary does an income tax officer get on average?
Ans. An Income-tax Officer on average makes up to Rs 45,000 a month. An income tax officer further gets opportunities to develop their skills which will aid in getting promotions to further grow their career.
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