M.Com Taxation is a two-year postgraduate course on tax and finance topics. The main components of this course include solving tax problems, researching tax literature, and conducting a complete analytical review of tax returns. In M.Com's tax course, students examine the ethical and legal obligations that must be complied with in the tax system. The minimum eligibility criteria for a candidate for admission to MCom Taxation is that he has completed a B.Com degree with at least 50% marks from a recognized university. Entrance exams like CUCET, DUET, BHU PET, AUCET are accepted for admission to MCom Control courses. Some universities also conduct personal interviews (PI rounds) with final candidates based on their admission results. To get admission in her MCom Tax College which is the best in India offering courses like . For example, LNCT Bhopal, CSMU Navi Mumbai, SGU Kolhapur, MRU Hyderabad, Meredian College Mangalore etc. require a good academic background and transcripts from relevant entrance exams and interviews. The average course fee structure for MCom Tax courses ranges from INR 12,000 to INR 4,00,000.
Course | M.COM FINANCE & TAXATION |
Duration | 2 Years |
Eligibility | Graduation |
Mode | Year |
Stream | Commerce |
Type | Degree |
The most important tip in preparing for the M.Com Taxation entrance exam is to start preparing at least a few months before the exam. Even if you start preparing 10 days or a week before the exam, it may not be effective as you will not be able to cover all the important topics needed to pass the entrance exam. Plan and prepare a schedule to study and cover important topics. One of the books that you can refer to while preparing for the M.Com Tax Entrance Exam is 'Delhi University MCom Entrance Test Book' by R. Gupta. This covers Class 12 and B.Com portions. The topics covered in this book are sufficient to cover the scope of the MCom Tax Entrance Exam syllabus. The MCom tax exam is considered to be relatively easy compared to other competitive exams. The main idea behind the M Com Tax Entrance Exam is to find out how much each candidate knows about Commerce and related subjects. So, if you are a dedicated BCom graduate and are well-versed in the subject, you can do well in the entrance exam.
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.
The most important criterion for applying for M.Com taxation in Indian educational institutions and universities is that the applicant has a BCom degree. Most universities require applicants to have completed their BCom degree with a minimum aggregate score of 50%. BCom graduates should also have good knowledge of subjects such as Economics, Mathematics and Accounting as their main subjects of study. Candidates in reserved category can receive up to 5% mark deduction. Relief is being provided to students at public universities in the state.
Candidates can apply for the M.Com Finance and Taxation program through the official website of the respective university or college. The application form can be filled online, and candidates have to submit the required documents along with the application fee.
Semester I | |
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 | |
Law of Direct Taxes and Practices - Income Tax Paper I and Paper II |
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 |
After completing the M.Com Finance and Taxation program, candidates can work as accountants, financial analysts, tax consultants, auditors, investment bankers, and financial advisors. The average salary for M.Com Finance and Taxation graduates is around INR 3,50,000 to INR 6,00,000 per annum.
Graduates of the M.Com Finance and Taxation program can work in various industries such as banking, financial services, insurance, accounting, auditing, and taxation. They can also pursue higher studies like a Ph.D. in Finance or Taxation for academic and research-oriented careers.
Master of Commerce in Finance and Taxation (MCom F and T) is planned and created in a joint effort with The Board of Studies, The Institute of Chartered Accountants of India, solely, for the Chartered Accountancy Final Stage understudies. Tax collection is the administration set system for gathering cash from the residents to pay for open administrations, for instance, open parks, libraries, and so forth. Reviewers are experts who perform reviews for associations and people, to check for disparities, irregularities, potential instances of budgetary duplicity, and such.
Direct Taxes are the expenses which are straightforwardly paid to the legislature by the citizen, for example, partnership charge, personal charge, and so on. Aberrant Taxes, nonetheless, are those paid to the administration by a mediator, and are relevant on the closeout of products and enterprises, for example, administration charge, deals charge, and so on.
Qualification:
NOTE:- Students who are admitted must bring all the original documents to with them to the Institute Campus. Students failing to present all relevant original documents upon request may be denied admission or later told to leave the university.
Given below are few of the important highlights of the program.
Program Full Name | Master of Commerce in Finance and Taxation |
Program Level | Master Degree Courses |
Duration of the Program | 2 Years |
Examination Type | Year |
Eligibility | Graduation with 50% (45% for SC/ST) |
Admission Process | Entrance Exam and Merit Based |
Average Program Fee | Rs. 1 Lakh - Rs. 2 Lakh |
Syllabus of Commerce as prescribed by various Universities and Colleges.
Paper Code | Subjects of Study |
1 | Accounting for Managerial Decisions |
2 | Advanced Management Accounting |
3 | Advanced Auditing and Professional Ethics |
4 | Business Environment |
5 | Business Finance |
6 | Corporate and Allied Laws |
7 | Corporate Accounting |
8 | Corporate Tax Planning and Management |
9 | Direct Tax Laws |
10 | Economic Environment of Business |
11 | Financial Auditing and Taxation |
12 | Financial Management |
13 | Financial Reporting |
14 | Globalization and Business Growth |
15 | Indirect Tax Laws |
16 | Information Systems Control and Audit |
17 | Marketing Management |
18 | Organisation Theory and Behaviour |
19 | Research Methodology and Statistical Analysis |
20 | Strategic Financial Management |
Mentioned below are some states in India that offer the program.