Are you someone who is inspired by Officer Amay Patnaik, from 2018 Bollywood drama movie “Raid”, starring Ajay Devgan? It goes without saying that not all heroes wear uniforms or capes. The field of taxation has been consistently fighting a rather rotten stereotype of being a bit of an uninteresting career path. However, in reality, the modern tax industry is emerging with intellectually exciting career opportunities. Becoming an Income Tax Inspector is the foundation stone to begin your professional career in the Income Tax Department from where you get to explore compelling prospects. If you are aspiring to explore the field of Taxation, here is a detailed blog on the career opportunities in Income Tax along with the varied range of taxation courses you can choose from to discover the immense number of prospects in this field.
Who is an Income Tax Inspector?
Income Tax Inspectors are an essential component of the Income Tax Department which deals with matters related to levy and collection of direct taxes. They are involved to enforce various tax and economic laws. A career as an Income Tax Inspector opens up the opportunity to work in the government revenue generation setup. This helps individuals in building a stable career along with directly contributing to the nation’s development.
Job Profile of an Income Tax Inspector
Income Tax Inspectors are allotted roles and responsibilities in the following two departments:
Assessment Section (Desk Job-Related Activities)
- Responsible for keeping a record of taxes that individuals, company or partnership enterprises are liable to pay.
- Handling refund claims, tax evasion complaints and TDS (Tax Deduction at Source) queries.
Non-Assessment Section (Field Work Activities)
- Organise and lead a rapid response team that conducts raids.
- Efficiently filing official paperwork, safeguarding important documents and other clerical duties.
Also Read: How to Become an Income Tax Officer
Benefits of Being an Income Tax Inspector
As a rewarding and lucrative career, following are the major perks you will get to enjoy as an Income Tax Inspector:
- Retiring at a higher position in the Income Tax Department brings the possibility of being appointed as the Chairman of various appellate bodies and tribunals.
- Income Tax Inspectors receive quite handsome salary along with incentives.
- Additional paid leaves are available for inspectors to complete any professional examination that is crucial for their growth and promotion.
- Other allowances include mobile bills, petrol and house rent (if housing quarters are not provided)
Income Tax Courses
There are a plethora of short-term and degree courses available for students interested in the fields of Tax Consulting, Accounting or Law. Some of the most common courses include programs in Income Tax, Taxation and Accounting, Corporate Tax Consulting and Tax Procedures. Below mentioned are the varied degree, diploma and certificate programs in Income Tax and allied fields:
|BCom in Income Tax|
|BCom in Tax Procedure|
|MSc in Taxation|
|MSc in Accounting and Taxation|
|MCom in Taxation|
|MCom in Accounting and Taxation|
|MCom in Finance and Taxation|
|MBA in Banking & Taxation|
|LLM in Taxation|
|Diploma in Income Tax and Company Law|
|Diploma in Taxation|
|Advance Diploma in Tax Consultancy Management|
|Graduate Diploma in Taxation|
|Post Graduate Diploma in Taxation|
Top Taxation Universities Across the Globe
Taxes are regarded as one of the biggest expenses for individuals and companies all over the world. This complicated mess of money, data, laws and the tax department is dizzying. Other than this, tax codes change each year. Therefore, it becomes quite obvious for Income Tax professionals to help individuals and companies with their taxes and ease of payment. Various universities and colleges offer courses in Taxation, Accounting, Laws, etc for students to become financial tax advisors, officers and accountants.
Here’s a list of renowned universities offering wide-ranging courses in the field of Taxation:
- University of Oxford
- The University of New South Wales
- The University of Western Australia
- The University of Sydney
- University of Hartford
- Pace University
- Colorado State University
- Southern Utah University
Individuals joining the Income Tax Department at a young age have a fair chance of being quickly promoted to various levels within the Tax Department. Many people opt for SSC CGL examination to become an Income Tax Inspector while others go for UPSC (Union Public Service Commission) examination under the IRS (Indian Revenue Services) for a time-bound promotion. Here is a list of major profiles in the Income Tax Department:
- Income Tax Inspector (Group B Post) – Assistant Section Officer
- Income Tax Officer – Section Officer
- Assistant Commissioner of Income Tax (Group A Post) – Assistant Secretary
- Deputy Commissioner of Income Tax – Under Secretary
- Joint Commissioner of Income Tax – Deputy Secretary
- Additional Commissioner of Income Tax – Director
- Commissioner of Income Tax – Joint Secretary
- Principal Commissioner of Income Tax – Additional Secretary
- Chief Commissioner of Income Tax – Additional Secretary
- Principal Chief Commissioner of Income Tax – Special Secretary
Thus, the career field of Taxation has a great variety of professional qualifications and you can start from an Income Tax Officer and aim higher for promotions and more senior roles. You can always get in touch with our experts at Leverage Edu to know more about the immense number of exciting opportunities in the field of revenue and taxation.