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B-COM in Tax Procedure And Practice at University of Kerala
Thiruvananthapuram, Kerala
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About the Specialization
What is Tax Procedure and Practice at University of Kerala Thiruvananthapuram?
This Taxation program at University of Kerala focuses on equipping students with comprehensive knowledge and practical skills in direct and indirect taxation systems prevalent in India. It delves into the intricacies of income tax, Goods and Services Tax (GST), and provides insights into tax planning and international taxation. The program aims to meet the growing demand for skilled tax professionals in various sectors of the Indian economy, preparing graduates for diverse roles in financial advisory, corporate compliance, and governmental agencies.
Who Should Apply?
This program is ideal for fresh graduates seeking entry into the dynamic field of taxation and finance, offering a solid foundation for a career in tax compliance, advisory, or auditing. It also benefits working professionals, such as accountants or financial assistants, looking to upskill and gain specialized expertise in tax laws and procedures. Individuals with a strong analytical aptitude and an interest in financial regulations and legal frameworks would find this specialization particularly rewarding for career growth.
Why Choose This Course?
Graduates of this program can expect to pursue India-specific career paths as Tax Consultants, GST Practitioners, Income Tax Officers (after competitive exams), Auditors, Financial Analysts, or Tax Compliance Managers in corporations. Entry-level salaries typically range from INR 2.5 Lakhs to 5 Lakhs per annum, with experienced professionals earning significantly higher. The program aligns well with professional certifications like CA, CS, CMA, and prepares students for advanced studies in taxation and financial law.
Student Success Practices
Foundation Stage
Master Core Accounting Principles- (Semester 1-2)
Focus diligently on understanding fundamental accounting concepts, journal entries, ledger posting, and preparation of final accounts. These form the bedrock for all advanced financial and tax-related subjects, ensuring accuracy in future tax compliance roles.
Tools & Resources
T.S. Grewal, P.C. Tulsian textbooks, online accounting tutorials on YouTube, practice problems from previous year question papers
Career Connection
Strong accounting fundamentals are essential for any role in taxation, as tax calculations are based on accounting records. This builds accuracy for future tax compliance roles.
Develop Quantitative Aptitude- (Semester 1-2)
Actively participate in quantitative techniques classes, focusing on business mathematics, statistics, and basic economics. Practice problem-solving regularly to build analytical skills crucial for interpreting financial data and understanding economic policies.
Tools & Resources
R.S. Aggarwal for quantitative aptitude, Khan Academy for basic math and statistics, college library resources
Career Connection
Essential for interpreting financial data, understanding economic policies that influence tax, and excelling in competitive exams for government jobs in the revenue sector.
Enhance Business Communication Skills- (Semester 1-2)
Utilize language courses to hone written and oral communication. Practice drafting business letters, reports, and delivering presentations. Participate in group discussions to improve articulation and clarity in professional interactions.
Tools & Resources
Toastmasters International (if available), English language learning apps, mock interview sessions, peer review of written assignments
Career Connection
Effective communication is vital for tax professionals to explain complex tax laws to clients, write clear reports, and present findings persuasively.
Intermediate Stage
Dive Deep into Financial Regulations- (Semester 3-5)
Pay close attention to subjects like Business Regulatory Framework, Financial Management, and Auditing. Understand the legal and ethical implications of business decisions, which directly impact tax compliance and regulatory advisory.
Tools & Resources
Bare Acts of relevant laws (e.g., Indian Contract Act), professional body websites (ICAI for auditing standards), financial news portals
Career Connection
Crucial for understanding the legal context of tax laws, ensuring compliance, and advising businesses on regulatory matters, preparing for roles in legal and financial compliance.
Seek Early Industry Exposure- (Semester 4-5)
Actively look for internships or part-time opportunities with local accounting firms, tax consultants, or small businesses, even if unpaid initially. This provides practical exposure to real-world tax processes and documentation, building valuable experience.
Tools & Resources
College placement cell, LinkedIn, local professional networks, career fairs
Career Connection
Gaining hands-on experience early helps solidify theoretical knowledge, builds a professional network, and makes students more attractive to employers for final placements.
Participate in Financial Quizzes and Competitions- (Semester 3-5)
Engage in inter-collegiate quizzes, debate competitions, or case study challenges focused on finance, economics, or taxation. This enhances critical thinking and problem-solving skills under pressure, preparing for demanding professional roles.
Tools & Resources
College clubs, financial magazines, online business news
Career Connection
Develops quick analytical abilities and confidence, highly valued in demanding roles like tax consulting and financial advisory.
Advanced Stage
Master Specialization Electives for Practical Application- (Semester 6)
Focus intensely on Income Tax Law, GST, Tax Planning, and International Taxation. Practice calculating tax liabilities, filing returns, and understanding compliance procedures using real-world scenarios. Consider specialized software training for practical readiness.
Tools & Resources
Income Tax Act, GST Act, Tally ERP 9, official tax portals (e.g., Income Tax India portal, GSTN portal), tax reference books
Career Connection
Direct application of knowledge for roles as Tax Practitioners, Tax Analysts, or Consultants. Builds the core competencies required for the specialization.
Undertake a Comprehensive Tax-Related Project- (Semester 6)
Choose a project topic related to current tax issues, comparative tax systems, or the impact of recent tax reforms. Conduct thorough research, data collection, and analysis, culminating in a detailed report and presentation.
Tools & Resources
Academic databases, government reports, financial journals, expert interviews, university research guidance
Career Connection
Showcases research capabilities, analytical depth, and subject matter expertise, highly beneficial for higher studies or specialized roles in tax research and policy.
Prepare for Professional Certifications and Placements- (Semester 6)
Simultaneously prepare for relevant professional exams (like CA, CS, CMA foundation/inter levels) or competitive government exams (e.g., SSC CGL for Income Tax Inspector). Attend campus placement drives, refine your resume, and practice interview skills for a smooth career transition.
Tools & Resources
Coaching institutes, online mock tests, career counseling services, alumni network for mentorship, company-specific preparation materials
Career Connection
Directly leads to employment or higher professional qualifications, ensuring a smooth transition from academics to the professional world.
Program Structure and Curriculum
Eligibility:
- A pass in Higher Secondary Examination of the State or an Examination accepted by the University as equivalent thereto.
Duration: 6 semesters / 3 years
Credits: 120 Credits
Assessment: Internal: 20%, External: 80%
Semester-wise Curriculum Table
Semester 1
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| COM1A01 | Language Course I - English - Language Skills for Business | Language Course | 4 | Introduction to Business Communication, Reading Comprehension, Basic Grammar, Writing Skills (Letters, Memos), Oral Communication |
| COM1A02 | Language Course II - Additional Language / English - Professional Business English | Language Course | 4 | Advanced Grammar, Report Writing, Presentation Skills, Business Vocabulary, Interview Techniques |
| COM1B01 | Business Regulatory Framework | Core | 4 | Indian Contract Act 1872, Sale of Goods Act 1930, Consumer Protection Act 2019, Negotiable Instruments Act 1881, Company Law basics |
| COM1B02 | Financial Accounting | Core | 4 | Accounting Principles, Journal, Ledger, Trial Balance, Final Accounts (Sole Proprietorship), Depreciation Accounting, Bank Reconciliation |
| COM1C01 | Quantitative Techniques for Business - I | Complementary Elective (Example) | 3 | Basic Mathematics, Set Theory, Linear Equations, Matrices, Calculus fundamentals, Financial Mathematics |
Semester 2
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| COM2A03 | Language Course III - English - Business Communication & Etiquette | Language Course | 4 | Types of Business Communication, Report Writing, Presentation Skills, Etiquette, Cross-cultural Communication |
| COM2A04 | Language Course IV - Additional Language / English - Essential English for Commerce | Language Course | 4 | Advanced Business Correspondence, Group Discussions, Resume Writing, Interview Skills, Public Speaking |
| COM2B03 | Principles of Business Decisions | Core | 4 | Nature of Managerial Economics, Demand Analysis, Supply Analysis, Production Theory, Cost Analysis, Market Structures |
| COM2B04 | Advanced Financial Accounting | Core | 4 | Partnership Accounts (Admission, Retirement, Dissolution), Branch Accounts, Departmental Accounts, Hire Purchase, Installment Systems |
| COM2C02 | Quantitative Techniques for Business - II | Complementary Elective (Example) | 3 | Probability Theory, Probability Distributions, Sampling, Hypothesis Testing, Correlation, Regression |
Semester 3
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| COM3B05 | Financial Management | Core | 4 | Objectives of Financial Management, Capital Budgeting, Working Capital Management, Cost of Capital, Capital Structure Theories, Dividend Decisions |
| COM3B06 | Auditing | Core | 4 | Concepts of Auditing, Types of Audit, Internal Control, Audit Planning, Audit Evidence, Audit Report, Company Audit |
| COM3C03 | Human Resource Management | Complementary Elective (Example) | 3 | Nature of HRM, HR Planning, Recruitment, Selection, Training & Development, Performance Management, Compensation |
Semester 4
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| COM4B07 | Cost Accounting | Core | 4 | Nature of Cost Accounting, Cost Concepts, Material Costing, Labour Costing, Overhead Costing, Activity Based Costing, Marginal Costing, Budgetary Control |
| COM4B08 | Marketing Management | Core | 4 | Marketing Concepts, Marketing Environment, Consumer Behavior, Market Segmentation, Product Life Cycle, Pricing Strategies, Promotion Mix, Distribution Channels |
| COM4C04 | Entrepreneurship Development | Complementary Elective (Example) | 3 | Entrepreneurship Concepts, Entrepreneurial Process, Business Idea Generation, Business Plan, Sources of Finance, Government Support, Challenges |
Semester 5
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| COM5B09 | Management Accounting | Core | 4 | Nature of Management Accounting, Fund Flow Statement, Cash Flow Statement, Ratio Analysis, Variance Analysis, Budgetary Control, Standard Costing |
| COM5B10 | Business Ethics and Corporate Governance | Core | 4 | Concepts of Business Ethics, Ethical Theories, Corporate Social Responsibility, Corporate Governance Principles, Stakeholder Management, Whistleblowing |
| COM5B11 | Indian Financial System | Core | 4 | Structure of Indian Financial System, Money Market, Capital Market, Financial Instruments, SEBI, RBI, Commercial Banks, NBFCs |
| COM5D01 | E-Commerce | Open Course (Example) | 3 | Introduction to E-commerce, Business Models, Payment Systems, E-security, E-marketing, M-Commerce, Legal aspects |
| COM5B16.1 | Income Tax Law and Practice | Elective - Taxation Specialization | 4 | Basic Concepts of Income Tax, Residential Status, Heads of Income (Salaries, House Property, PGBP, Capital Gains, Other Sources), Deductions, Computation of Total Income |
Semester 6
| Subject Code | Subject Name | Subject Type | Credits | Key Topics |
|---|---|---|---|---|
| COM6B12 | International Business | Core | 4 | Introduction to International Business, Theories of International Trade, Modes of Entry, Foreign Exchange Market, Balance of Payments, WTO, Regional Economic Integration |
| COM6B13 | Research Methodology | Core | 4 | Research Process, Research Design, Data Collection Methods, Sampling, Data Analysis, Hypothesis Testing, Report Writing, Ethical Issues |
| COM6B14 | Computerised Accounting with GST (Practical) | Core | 4 | Introduction to Tally/Accounting Software, Company Creation, Ledgers, Vouchers, Inventory, Payroll, GST (Tax structure, Registration, Returns), Practical exercises |
| COM6B15 | Project and Viva Voce | Project | 3 | Project Formulation, Data Collection, Analysis, Interpretation, Report Preparation, Presentation, Viva Voce |
| COM6B16.2 | Goods and Service Tax (GST) | Elective - Taxation Specialization | 4 | Introduction to GST, GST Council, Supply (Taxable Event), Time of Supply, Value of Supply, Input Tax Credit, Registration, Returns, Payment of Tax, E-way Bill |
| COM6B16.3 | Tax Planning and Management | Elective - Taxation Specialization | 4 | Concepts of Tax Planning, Tax Avoidance vs. Tax Evasion, Tax Planning for Individuals, Corporate Tax Planning, Tax Incentives, Capital Gains Tax Planning, Customs Duty |
| COM6B16.4 | International Taxation | Elective - Taxation Specialization | 4 | Introduction to International Taxation, Double Taxation Avoidance Agreements (DTAA), Transfer Pricing, Base Erosion and Profit Shifting (BEPS), NRI Taxation, Foreign Tax Credit |
