Secrets of Success - Knowledge, Training, Patience and Hard Work

To achieve professional success each student has to work very hard with ample patience and to wait for the right opportunity. He/She should judiciously blend their academic knowledge, gathered in the process of acquiring their academic degrees, with proper professional training. This professional training or practical knowledge is not imparted in an academic institution. It has to be acquired from any professional school like Bengal Tax Counsel who is geared up and competent enough to offer such professional training.

An accounts student who likes to take up his/her career as a successful Accountant has to go through the process of adopting the modes of changes from manual accounts to computerized accounts. He/she has to take proper practical training to convert his/her career orientation from a conventional Manual Accountant to an up-dated e-Accountant with thorough knowledge of accounting software.

Similarly, students who intend to shape their career as independent Tax Consultant must equip themselves with thorough professional training. In today’s world it will not help if Tax Consultants know only VAT or IT. Comprehensive knowledge of Service Tax, Profession Tax, CST, Central Excise, ESI, PF, SSI, Banking, ROC, eTDS, eFiling, Manual and Computerized Accounting process would also be necessary. Such comprehensive training is offered only at BTC.

Criteria for being a Tax Consultant

Any individual or professional having educational background of any of these five streams – Advocate, Chartered Accountant, Cost Accountant, Company Secretary and B.Com. ( holding Form 87 ), can practice as a Tax Consultant as per the VAT Law. A B.Com. graduate can practice independently as an Authorized I.T. Practitioner as per the Income Tax Act.

An Independent Profession

Tax Consultancy is an independent profession. Tax Consultant is like a Doctor, Lawyer or a Chartered Accountant, who practice independently to make their own career. A Tax Consultant virtually acts as a ‘Legal Doctor’ for an organization or an individual. His/her responsibility covers total planning and implementation of overall tax matters.

Tax Consultant and Accountant

Tax and Accounts are absolutely interdependent and complementary to each other. Though both these career streams are almost analogous, yet there are some differences. Any student who intends to be a successful Accountant essentially concentrates more on accounts related matters. But, to be a successful Tax Consultant one has to acquire in-depth knowledge on various modes of Taxation, beside having good accounts knowledge. The Tax Consultant has to act like a versatile and comprehensive ‘departmental store’ for the client.

Tax Consultant and Accountant – in high demand

Till 31st March,2005, as per old Sales Tax Law, only manufacturers and importers were liable to maintain Books and pay Taxes as First Point Tax. Subsequent introduction of VAT from 1st April 2005, all business houses with a turnover in excess of Rs 5 lakhs per annum are liable to pay tax and are required to maintain proper books of accounts. Recently, in service sector, Service Tax has been imposed on as many as 109 items instead of a meager three items. In another segment, that is Income Tax, number of tax payers has increased by leaps and bounds. Naturally, scope of employment and/or independent practice has also increased substantially in all sectors.

Women can succeed too

Tax Consultancy and Accountancy profession remains no more the monopoly of male professionals. With the introduction of eFiling for almost all tax returns and more conducive working environment there has been a significant surge in the number of female incumbents in this field. It is obvious that the chances of success for a female student is definitely as high as her male counterpart, provided proper training is obtained from any professional institute like BTC.

Home | About Us | Career | Course | Beneficiaries | Faculty | Knowledge Update | Ex-Students’ Corner | Download | Enquiry | Contact