Table of Contents
How do I get a tax consultant license in India?
In India, most of the professionals acting as tax consultants are law graduates or persons having professional qualifications. There are no prescribed qualifications to become a tax consultant/ advisor. Individuals with interpretation skills and expertise knowledge in Tax Laws can act as a Tax Consultant.
What is required to be a tax consultant?
A background in commerce, and courses and certification in taxation are necessary to become a tax consultant. A qualification in chartered accountancy is very helpful, especially in order to acquire a senior job position, but is not required.
How can I start a tax consulting business in India?
These also extend to areas such as taxation and management consulting.
- Regulation, Qualification and Licensing Issues.
- Qualify As A Chartered Accountant.
- Register As A Member With ICAI.
- Take Certificate of Practice.
- Decide On The Structure of Accounting Firm.
- Get Clients.
- Start Practicing.
How much do tax consultants charge in India?
Consultant trades off less tax for more paperwork. The highest tax charged for a consultant is 11.33\% which includes the educational cess whereas an employee can get charged 33.99\% as the highest tax. Consultant’s whose annual income does not exceed Rs. 20,000 will not be taxed.
Do I need to register my consulting business in India?
Registration for Consultants 20 Lakh during the financial year, then the consultant is liable for GST registration and must get registration for the same. To ensure that the business name, brand and logo are protected, registration under Trademark with Trademark Registrar under Trade Marks Act, 1999 is required.
How can I register as a consultant in India?
How to start your own consultancy Business in India or wherever you are!
- Learn what you are good at!
- Get the License you need.
- What kind of Business Consultant do you want to become.
- Identify your Target Market.
- Give your clients’ reasons to hire you!
- Picking the right location.
- Advertise your business consultancy offline.
Why you need a tax consultant?
The primary role of a tax consultant or a tax advisor is to help people and organizations in paying their taxes. They hold expertise in tax law, tax compliance, and tax planning. Both individuals and business owners can hire a tax consultant for long and short-term tax optimization.
How to become a tax consultant in India?
The tax consultants in India are mainly those having the qualification in law, commerce, ICWA, CA, CS, mathematics, science or other such accounting qualification. Other than the above, an aspiring tax consultant may also possess the below qualities
What are the qualifications required to become a tax consultant?
What are the qualifications required to become a Tax Consultant? In India, most of the professionals acting as tax consultants are law graduates or persons having professional qualifications. There are no prescribed qualifications to become a tax consultant/ advisor.
What are the tax benefits of being a consultant?
On the other hand, a consultant can set off losses of another business (for example, share trading) from consultancy income and carry forward unabsorbed losses for eight succeeding years. This is a huge benefit for a consultant since this considerably reduces taxable income and hence taxes.
How to start a consultancy?
A consultancy can be begun on an individual premise as a sole proprietorship firm or Limited Liability partnership if there are at least 2 Partners. The Consultant can hone on a person’s name too.